Barware Market

Barware Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Barware: Introduction

Barware refers to utensils or glassware that is used to prepare and serve alcoholic and nonalcoholic beverages.
Barware consists of stemware, glasses, mixers, knives, shakers, and other tools. Some barware may be referred to as shaker sets or bar sets, but 'barware' is the umbrella term for all types of accessories found in residential and commercial bars.

Key Drivers of the Global Barware Market

Attractive appearance and ease of usage contributes positively to the growth of the global barware market. Consumers purchase barware even for residential applications.
Rising consumer demand for eco-friendly products which do not adversely impact health is driving market growth. Growing awareness about the ill effects of plastic drinkware on health and the environment are encouraging the usage of recyclable and safe material-based products.
Key companies are working toward launching innovative products made of eco-friendly materials. For instance, Urban Bar has launched an exhaustive range of drinkware made from steel, with Hawaiian themed Tiki patterns.
Based on raw material, glass accounted for the largest market share at the global level as a result of its attractive looks

Growth Opportunity in BPA-free Product Market

Increasing demand for BPA-free packaged products are expected to create a new opportunity in the market. Companies are trying to avoid the usage of BPA. For instance, TOSSWARE launched highest-quality polymer based barware which are 100% BPA-free, shatterproof, and recyclable.

Rise in Raw Material Cost to Hamper the Market

Overall cost of raw material including glass, steel, and others is rising at the global level. Increase in raw material cost is likely to significantly impact small and medium players. This factor is expected to restrain the market in the next few years.

Europe to Hold Major Share of the Global Barware Market

Europe held majority share in the barware market as a result of large number of bars and restaurants in the U.K., Germany, Italy, and France. A large number of small, medium, and large companies are present across this region. In addition, increase in sales through e-commerce channels is expected to further boost the market growth.
Asia Pacific is the fastest growing barware market as a result of increase in number of bars in developing countries including India, China, and Sri Lanka. Moreover, increase in disposable income among the middle class population coupled with adoption of western culture and rapid growth in the hospitality industry are propelling the growth of the market in Asia Pacific. For instance, in India, coffee chain company “Cafe Coffee Day’s” sales increased from 1.6 million cups in 2017 to over 2 million cups in 2018.

Key Players Operating in the Global Market

The global barware market is fragmented in nature with the presence of different small and large players. Companies are adopting the strategy of product innovation & development as well as investing in geographical expansion. Some of the large players are acquiring small scale players to increase their product range and market share as well as geographical reach in the barware market. A few of the key players operating in the global barware market are listed below: