Research Nester recently published a report titled “North America Glassware Market: Outlook, Industry Analysis & Opportunity Evaluation – 2018-2025” that delivers detailed overview of the North America Glassware Market in terms of market segmentation by appliances types, distribution channel, end users and by regions.
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.
Increasing population is profoundly shaping the consumer experience across the region with more spending power, this is attributed to propel the residential glassware market significantly. Additionally, the emergence of web-based applications as a major shopping channel has resulted in providing consumers with different modes of purchase and offering more reliability towards purchasing decisions.
Urbanization across North America is driving the utilization of durable and attractive glassware products. 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.
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.
However, High urbanization along with higher disposable income exudes the significant acceleration in utilization of glassware products aligned with the consumption and fondness of food & beverages. Significant rise in prevalence of alcohol consumption in the restaurants and hotels is expected to drive the growth in glassware sales over the forecast period.
Higher concentration of smartphone users in the region along with high penetration of internet in countries along with the broadening of online distribution channels such as Amazon and eBay delineates significant increase in demand for glassware products through the online sales channel.
The rise in the population of baby boomers with sophisticated palates has led to an increase in demand for diverse dining experience is projected to contribute substantially in the growth of the glassware market across food service businesses in United States.
Innovations such as, micro technology offering antimicrobial protection and odor control in glassware product ranges. Additionally, rising inclination of consumers towards functional beverages for the health benefits of packaging super food ingredients benefiting convenience and grab-n-go options is projected to propel a considerable growth in the United States glassware market. Moreover, increasing alcohol consumption accompanied with rise in sales of glassware towards the residential segment is expected to fuel the growth in glassware market.
By Sales channel, online channel stands as the fastest growing sales channel on account of rising internet penetration coupled with high concentration of smartphones in the North American countries. By End User, Commercial segment holds larger chunk of glassware sales. Surge in tourist turnout manifests substantial growth of hospitality industry which is further driving the growth in the commercial segment.
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. However, Due to the durability aligned to metallic tableware utensils, the utilization is more frequent in middle and smaller income groups.
This report also provides the existing competitive scenario of some of the key players of the Glassware Market which includes company profiling of Lifetime Brands, Inc., Libbey, Inc., Corelle Brands, LLC, Villeroy & Boch, Lenox Corporation, ARC Group, The Oneida Group, Inc., Bormioli Rocco S.p.A., Duralex International, Guy Degrenne S.A. 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 North America Glassware Market that will help industry consultants, 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.