LONDON--(BUSINESS WIRE)--The global glass tableware market size is expected to post a CAGR of over 3% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing number of organized retail stores is one of the major reasons for the glass tableware market growth. Organized retailers have grown significantly with the establishment of hypermarkets, supermarkets, and specialty stores. Supermarkets are a major distribution channel for glass tableware items as people can choose from a variety of glass dishes and glass beverageware. These stores also offer discounts on these products and better customer experience through proximity marketing, which is boosting the sales of glass tableware products through retail stores such as supermarkets and hypermarkets.
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As per Technavio, the growing use of omnichannel strategy by market vendors will have a positive impact on the market during the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Glass Tableware Market: Growing Use of Omnichannel Strategy by Market Vendors
Conventionally, glassware products were only available in brick-and-mortar retail stores. However, the growing inclination towards glass tableware products has encouraged numerous manufacturers to start selling their products through their e-commerce websites. For instance, in 2017, Libbey invested USD 12.1 million in the launch of its e-commerce initiative, which is expected to contribute to the net sales and profitability of the company. This trend is expected to garner momentum during the forecast period with more glass tableware vendors trying to sell their products through e-commerce platforms.
“Other factors such as the increase in product launches by vendors, and the introduction of smartphone-based retail applications will have a significant impact on the growth of the glass tableware market value during the forecast period,” says a senior analyst at Technavio.
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Glass Tableware Market: Segmentation Analysis
This market research report segments the glass tableware market by product (glass dishes, beverageware, and others) and geography (APAC, Europe, MEA, South America, and North America).
The APAC region held the largest share of the market in 2019, followed by Europe, North America, South America, and MEA respectively. The growth of the glass tableware market share in APAC can be attributed to several factors such as increasing economic activities which include FDI, growth of per capita income, and the presence of established vendors in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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