- 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.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
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:
- AnHui DeLi Glassware
- Arc International
- Bormioli Rocco
- Ocean Glass
- Steelite International
- The Oneida Group
Looking for Regional Analysis or Competitive Landscape in Barware market, ask for a customized report
Global Barware: Research Scope
Global Barware, by Material
Global Barware, by Application
Global Barware, by Distribution Channel
Global Barware, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.