United Kingdom Glass Tableware Market is Projected to Generate a Revenue of US$ 802.6 Million by 2031, Says CoherentMI
United Kingdom Glass Tableware Market is estimated to be valued at US$ 422.1 Mn in 2024, growing at a compound annual growth rate (CAGR) of 3.40% from 2024 to 2031, as highlighted in a new report published by CoherentMI. Key Companies Covered: Waterford Crystal, Wedgwood, Denby, Emma Bridgewater, Dartington Crystal and Among Others.
/EIN News/ -- Burlingame, Aug. 13, 2024 (GLOBE NEWSWIRE) -- CoherentMI published a report, titled, United Kingdom Glass Tableware Market is estimated to value at US$ 422.1 Million in the year 2024 and is anticipated to reach US$ 802.6 Million by 2031, at a CAGR of 3.40% during forecast period 2024-2031. Glass tableware is becoming increasingly popular in the United Kingdom as it is a durable material that can withstand frequent usage and washing. Glass tableware does not fade, crack, or retain odors and bacteria like plastic or ceramic tableware over time. Glass pieces are also non-porous, making them hygienic and suitable for serving food. As consumers are becoming more health-conscious, the demand for reusable and hygienic tableware has increased. This growing demand has prompted manufacturers to offer innovative designs and customization options for glass tableware in the UK market.
Market Report Scope:
| Report Coverage | Details |
| Market Revenue in 2024: | US$ 422.1 Million |
| Estimated Value by 2031: | US$ 802.6 Million |
| Growth Rate: | Poised to grow at a CAGR of 3.40% |
| Historical Data: | 2019 - 2023 |
| Forecast Period: | 2024 - 2031 |
| Forecast Units: | Value (USD Million/Billion) |
| Report Coverage: | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered: | By Product Type, By Application Type, By Distribution Type |
| Geographies Covered: | United Kingdom |
| Growth Drivers: | • Rise in Demand Due to Thermal Resistant Property |
| • Increase in Demand Due to Sterile as Their Unique Property | |
| Restraints & Challenges: | • Usage of Disposable Plates in Small Restaurants Due to No Maintenance Cost and Low Prices |
Market Dynamics:
The United Kingdom glass tableware market is driven by factors such as rising disposable income and changing lifestyle and eating habits of consumers. Disposable income of individuals in the UK has increased significantly in the past few years owing to favorable economic conditions and low unemployment rate. Higher disposable income has allowed consumers to spend more on premium and innovative glass tableware products. Furthermore, rapid urbanization and busy lifestyle have led to rise in demand for easy to use and clean glass tableware such as glass tumblers and glass jars.
Key Market Takeaways:
- The United Kingdom glass tableware market size is anticipated to witness a CAGR of 3.40% during the forecast period 2024-2031, owing to the rising popularity of dining out culture and growing demand for luxury home decor items in the UK.
- On the basis of product type, the dinnerware segment is expected to hold a dominant position, accounting for over 35% market share owing to rising consumption of glass tableware sets at homes and commercial establishments.
- By application, the household segment currently dominates the market and is expected to continue its dominance over the forecast period, driven by increasing disposable incomes and consumer spending on home décor and renovation.
- In terms of distribution channels, the B2C segment has the highest share primarily due to the thriving online retail industry in the UK. E-commerce platforms offer consumers convenience and attractive discounts.
- Regionally, UK is expected to continue dominating the market during the forecast period, led by high living standards and availability of global as well as domestic glass tableware brands.
- Key players operating in the market include Waterford Crystal, Wedgwood, and Denby. These players are focused on strengthening their product portfolios and distribution networks globally as well as in the UK.
Market Trends:
Designer and personalized glass tableware: Manufacturers are focusing on developing innovative and designer glass tableware products to cater to changing preferences of consumers. They offer wide range of designs, styles, shapes and sizes to choose from. Customized and personalized engraving on glass tableware items is another trend gaining prominence in the market.
Eco-friendly glass tableware: Rising awareness about environment conservation has led to growth in demand for eco-friendly tableware products. Manufacturers emphasize on using recycled glass content and waste-reducing production techniques to offer sustainable options to health-conscious consumers.
Recent Developments:
- In February 2022, Dartington Crystal for the first time collaborated with an Indian wine and spirits expert, Vaniitha Jaiin and thinKitchen to launch ‘The Connoisseur Collection’ of two bespoke functional line of glasses for wine and whisky.
To get more detailed analysis: https://www.coherentmi.com/industry-reports/united-kingdom-glass-tableware-market
United Kingdom Glass Tableware Market Opportunities:
Increased Popularity of Premium and Luxury Tableware - Over the past few years, there has been a rising trend of consumers purchasing premium and luxury glass tableware for their households in the UK. The demand for high-quality, elegant and delicate glassware from brands such as Waterford Crystal and Wedgwood has been increasing steadily. This has opened up opportunities for glass tableware manufacturers to launch new premium product lines with intricate designs and finer craftsmanship targeted towards the luxury home decor segment. Increasing prosperity and rising disposable incomes have enabled consumers to spend more on luxury tableware items.
Growth of Commercial Sector Demand - The demand for glass tableware from the commercial sector such as hotels, restaurants and cafes has been rising significantly. As the food service industry in the UK continues to grow steadily, supported by factors such as rising tourism and dining out culture, the demand for durable and elegant glass tableware from commercial establishments is on the rise. Leading glass tableware manufacturers can explore opportunities to cater to the specific requirements of commercial customers through tailored product ranges and bulk pricing options. New product innovations such as extra sturdy and dishwasher safe designs are well-suited for heavy commercial usage.
United Kingdom Glass Tableware Market Segmentation:
-
By Product Type
- Dinnerware
- Beverage-ware
- Others
-
By Application Type
- Household
- Commercial
-
By Distribution Type
- B2C
- Online Channels
- Offline Channels
- B2B
Purchase Latest Edition of this Research Report @ https://www.coherentmi.com/industry-reports/united-kingdom-glass-tableware-market/buynow
Top Questions Answered in this Report:
- What factors are impeding the growth of the United Kingdom Glass Tableware Market?
- What are the primary drivers fueling the growth of the United Kingdom Glass Tableware Market?
- Which segment dominates as the leading component in the United Kingdom Glass Tableware Market?
- Who are the key players actively participating in the United Kingdom Glass Tableware Market?
- Which region is expected to take the lead in the United Kingdom Glass Tableware Market?
- What is the projected CAGR of the United Kingdom Glass Tableware Market?
Key insights provided by the report that could help you take critical strategic decisions?
➞ Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
➞ Reports provide opportunities and threats faced by suppliers in the United Kingdom Glass Tableware industry around the world.
➞ The report shows regions and sectors with the fastest growth potential.
➞ A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
➞ The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
➞ This report provides the industry's current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.
➞ This report provides the industry's current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.
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About Us:
At CoherentMI, we are a leading global market intelligence company dedicated to providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. Moreover, CoherentMI is a subsidiary of Coherent Market Insights Pvt Ltd., which is a market intelligence and consulting organization that helps businesses in critical business decisions. With our cutting-edge technology and experienced team of industry experts, we deliver actionable intelligence that helps our clients make informed decisions and stay ahead in today's rapidly changing business landscape.
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