Cocktail Glasses Market - Global Industry Dynamics 2019-2020, Trends and Forecast 2020–2028

Cocktail glasses come in a great variety of shapes and sizes. The cocktail glasses market is expected to witness several innovations in terms of design and material.  The cocktail glasses market is expected to witness significant growth in the upcoming years. The rise in the number of hotels, restaurants, cafes, and bars is significantly driving the demand for cocktail glasses globally.

Driving Factors

  • A growing number of middle-class population with better income opportunities will lead to an increase in per capita income globally. This, in turn, will boost the spending capacity on casual houseware products such as cocktail glasses. The rise in disposable income, especially in developing countries is expected to fuel the growth of the global cocktail glasses market in the near future.

  • Furthermore, the expansion of sales channels, both online and offline, has a significant impact on the growth of the cocktail glasses market. e-Commerce websites have made it convenient for brands to easily penetrate different markets and provide consumers a wider choice.

Challenges

  • Fluctuating raw material prices is expected to restrain market growth in the upcoming years. Increasing raw material prices is leading to a high cost of products. The high cost of soda ash is more likely to hamper the growth of the market.

Key Trends

  • One of the latest trends gaining momentum in the global cocktail glasses market is the demand for designer glassware. Crystal glasses are emerging as a new trend in the barware segment. Innovative shapes and designs are the dynamic factors influencing the purchase decisions of consumers.

Market Segmentation

  • The global cocktail glasses market can be segmented based on type, material, end-use, distribution channel, and region. In terms of type, the cocktail glasses market can be classified into highball cocktail glasses, lowball cocktail glasses, collins cocktail glasses, martini cocktail glasses, margarita cocktail glasses, and others.

  • Based on material, the cocktail glasses market can be bifurcated into glass and metal. In terms of end-use, the cocktail glasses market can be split into household and commercial. The commercial segment can be sub-divided into hotels & restaurants, cafes & bars, and others.

  • On the basis of the distribution channel, the cocktail glasses market can be classified into offline and online. The online channel can be sub-divided into company-owned websites and e-Commerce websites. The offline channel can be sub-divided into organized stores and unorganized stores.

  • The global cocktail glasses market can be classified into North America, South America, Asia Pacific, Middle East & Africa, and Europe. Furthermore, the regions are divided into countries such as the U.S., Canada, Germany, France, Italy, the U.K., GCC Countries, China, India, Japan, and Brazil. In terms of value, North America is expected to account for a major share of the global cocktail glasses market during the forecast period. Sophisticated lifestyle and high spending capacity are fueling the growth of the cocktail glasses market in the North American region. The Asia Pacific is projected to witness steady growth, owing to a rise in per capita disposable income and rapid urbanization.

Competition Landscape

  • The global cocktail glasses market is fragmented in nature. The competition in the market is set to intensify with the entry of numerous local and regional players across geographies. Major players are adopting advanced technologies and are successful in finding new ways to compete and thrive in modern markets.

  • Key players operating in the global cocktail glasses market are Libbey Inc., LaOpala R.G. Ltd., Sisecam Group, Bormioli Rocco SpA, ARC International S.A., Lenox Corporation, Borosil Glass Works Ltd., Anchor Hocking LLC, Rіеdеl Vіnum, Ѕсhоtt Zwіеѕеl, TERMISIL Huta Szkła Wołomin S.A., Corelle Brands LLC., Тrіtаn Сrуѕtаl, Kavalierglass, a.s., Zеnаn, Lеnох ТuѕсаnуGоdіngеr, Wuerttembergische Metallwarenfabrik AG, and others

Segments:

By Type:

  • Highball Cocktail Glasses

  • Lowball Cocktail Glasses

  • Collins Cocktail Glasses

  • Martini Cocktail Glasses

  • Margarita Cocktail Glasses

  • Others

By Material:

  • Glass

  • Metal

By End-use:

  • Personal

  • Commercial

    • Hotels & Restaurants

    • Cafes & Bars

    • Others

By Distribution Channel:

  • Online

    • Company-owned Website

    • e-Commerce Website

  • Offline

    • Organized Stores

    • Unorganized Stores

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