The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Glassware sales over the past few years have been witnessing an upward on account of an increasing demand from diversified commercial channels. While commercial channel account for around 67.77 % share in 2019, it is still expected to grow at a faster rate as compared with the residential channel. Horeca Channel amidst the commercial is expected to exhibit the maximum demand in the future on account of an increasing number of establishments of restaurants.
Prevalence of glass dinnerware and tableware in the fine dining is growing at a steady pace which is expected to amplify in the upcoming years. The glassware manufacturers, therefore, are recommended to focus on the development of the glassware products addressing the requirements of the commercial channels.
Additionally, the market is witnessing an augmented surge in the demand of heat resistant glass on account of an increasing penetration of the microwave ovens across the United States and Canada. On account of increasing awareness pertaining to the harmful health effects of the plastic used in microwave ovens, glassware is witnessing an escalation in the demand and is expected to grow at the fastest pace in the upcoming years. Henceforth, the companies are focusing on the development of the heat resistant glass
High urbanized population across North America is driving the utilization of durable and attractive glassware products. The change in consumer behavior on the back of urbanization implicates the consumer’s process of selection. The easy availability of a wide range of products in the selection of luxury and semi luxury products delineates the growth of glassware industry in urbanized regions.
The change in the food preferences due to urbanization also exhibit the positive trend in Glassware market. The structural taste change from one taste preference to the other evince increased utilization of glass products. Uses in social gatherings have been substantially rising due to the high concentration of urbanized population.
Urbanization aligned with increasing income of middle income groups bespeak the elevation of social stature of individuals. The ascent of social strata of individuals propels the social behavior to shift towards enhanced quality of products made of glass.
Southern part of United States garners significant growth in glassware market due to the acceleration in the growth of income across the region
Increase in the sale of substitute products such as ceramic, plastic and metallic tableware acts as a major restraint for the sale of glassware industry. Rising utilization of ceramic tableware products by middle and higher income groups is expected to restrain the growth of glassware industry.
The ceramic market sustain some of the major players empowering the ceramic industry and their tableware applications. The companies such as Saint Gobain, Morimura Group and Kyocera Corp. are some of the major ceramic manufacturers with strengthened financial structure delineating a competitive edge over the glassware manufacturers.
The metallic table ware and related products are considered to be one of the key substitutes to the glassware products across various parts of North America. The durability and availability aligned to the metallic utensils exhibit better marketability than glassware products