The crystalware and glassware market has been segmented by products into soda lime glass, lead glass and heat resistant glass, out of which, soda lime glass dominated the crystal and glassware market in 2016 and is anticipated to behold this positive growth by contributing more than half of total crystalware and glassware market over the forecast period.
The global market of crystalware and glassware is expected to flourish at a robust compound annual growth rate over the period 2023-2033. The usage of crystalware and glassware in ornament and decorative applications is anticipated to drive the growth of the market by noteworthy revenue by the end of 2033. Further, factors such as growing number of restaurants and hotels combined with rising popularity of fine dining are driving the demand for crystalware and glassware around the globe.
In terms of geography, North America has been leading crystalware and glassware market in terms of market demand and is anticipated to retain its dominant stance over the forecast period which can be attributed to the presence of large manufacturing companies for crystalware and glassware in this region. Further, Europe and Middle East & Africa’s crystalware and glassware market is expected to grow with modest growth rate over the forecast period.
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Growing Demand in Residential Sector
The growth of the crystalware and glassware market is driven by rising modern infrastructure facilities combined with the growing demand for crystalware and glassware in residential apartments, restaurants and hotels. Further, the rapid urbanization around the globe has propelled the demand for crystalware and glassware owing to the adoption of luxury products for decorative purposes. This factor is expected to benefit the expansion of crystalware and glassware market over the forecast period.
However, penetration of plastic and ceramic products and availability of cheap products is likely to inhibit the growth of the crystalware and glassware market in the near future.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the crystalware and glassware market which includes company profiling of Noritake, Villeroy & Boch AG, Guy Degrenne SA, Lifetime Brands, Lenox Corporation, The Zrike Company, World Kitchen LLC, Libbey, Oneida and WMF Wurttembergische.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the crystalware and glassware market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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