Europe Glassware Market Is Likely To Up Demand At A USD 4.01 Billion By 2028

 San Francisco, 18 May 2021: The Report Europe Glassware Market Size, Share & Trends Analysis Report By Product (Wine Glass, Beer Glass), By Distribution Channel (Specialty Stores, Online Retail), By Branding (Branded, Non-branded), And Segment Forecasts, 2021 - 2028

The Europe glassware market size is expected to reach USD 4.01 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.8% from 2021 to 2028. The market is expected to witness prominent growth in the future owing to the economic growth in emerging countries and the development of attractive glassware products.                                 

Furthermore, the increasing urbanization is one of the prominent factors leading to a change in the purchasing behavior of consumers. The growing population due to the migration of individuals from different countries has increased the number of glassware purchases as per the individual’s preference, in turn, propelling the product demand. A majority of the population in each EU-27 Member State lived in owner-occupied dwellings in 2018, this share ranging from 51.4% in Germany to 96.4% in Romania; the EU-27 average was 70.0%. The trend of living in rental houses has resulted in individuals often changing their houses, thus triggering the product demand as individuals prefer new glassware in their new house.

A rise in alcohol consumption is also acting as a major driver for the market from both the residential and commercial sectors. According to a 2019 report by the WHO, on average, adults (aged 15 years and over) in the European Union countries drink the equivalent of more than 2 bottles of wine per week. When lifetime abstainers and former drinkers are removed, it reveals that adults drink more than 3 bottles of wine a week. Across the population, 30.4% of people report having consumed more than 60g of pure alcohol on a single occasion in the last 30 days - this is equivalent to more than 5 drinks on 1 occasion.

The growing trend of nuclear families is creating more opportunities and growth prospects for the market. In addition, the frequency of formal dining occasions at home is increasing, thereby creating more demand for luxury and premium glassware among consumers. However, the use of plastic ware in various small restaurants due to their low cost and less maintenance is projected to restrain the market growth in the commercial sector. However, increasing awareness about the health benefits of using glassware for drinking can negate the effect of the restraining factors.

The growth of the commercial sector, particularly restaurants and cafes, in the region is creating a high demand for glassware. As per the Specialty Coffee Association (SCA), in 2017, there were 301,593 cafes and 13,344 coffee-focused shops in Western Europe. The uptick in the number of café outlets is increasing the need for glassware products, which is likely to boost the growth prospects for the market over the forecast period. In Europe, the U.K. is foreseen to remain at the forefront and is projected to expand at a notable CAGR over the forecast period.

Access Research Report of Europe Glassware Market @ https://www.grandviewresearch.com/industry-analysis/europe-glassware-market

Europe Glassware Market Report Highlights

• By product, the wine glass segment is projected to be the fastest-growing segment over the forecast period
• Based on distribution channel, the specialty stores segment dominated the market with a share of over 37.0% in 2020
• In terms of branding, the branded glassware segment is expected to expand at the fastest CAGR of 9.2% from 2021 to 2028
• In Europe, the U.K. held the largest share of almost 16.0% in 2020 and is foreseen to remain at the forefront in the forthcoming years

List of Key Players of Europe Glassware Market

• Şişecam Glassware
• Villeroy & Boch AG
• Fiskars Group
• Lifetime Brands, Inc.
• Ritzenhoff AG
• Steelite International
• Alessi S.p.A.
• Arc International
• Oertel & Co. Kristallglas
• Bormioli Rocco S.p.A. 

Access Press Release of Europe Glassware Market @ https://www.grandviewresearch.com/press-release/europe-glassware-market-analysis