Stemware Market: Introduction
- Stemware is usually made from glass, crystal, or ceramics. Stemware comes in various types such as absinthe glass, margarita glass, and wine glass. Wine glass is one of the most popular stemware used.
Key Drivers, Opportunities, and Restraints of the Global Stemware Market
- Increasing popularity of fine dining throughout the world, as well as the number of growing hotels and restaurants, are some of the main drivers expected to drive the global stemware market. Furthermore, the improving standard of living of consumers as a result of increased disposable income, mostly in developing countries such as India and China, is expected to contribute to the growth of the overall market.
- Moreover, increasing number of multinational companies in developing countries over the last few years has resulted in the increase in inflow of clients and guests. This gives rise to demand for premium hotels which offer premium services for the clients and guests. It leads to serving of food and beverages in premium products -such as serving alcohol in stemware. This factor is expected to propel the demand for stemware from the hotel industry during the forecast period.
- The change in consumer buying behavior toward premium houseware products has a positive impact on the global stemware market. Furthermore, availability of trendy stemware products is expected to drive the demand for stemware during the forecast period.
Restraints of the Global Stemware Market
- The Covid-19 pandemic has caused strong change in purchasing and spending patterns of consumers. Consumers are limiting their daily spending and willing to pay only for essential commodities with the evolving economic scenario. In addition, countrywide closure of public places such as bars, restaurants, and pubs, and restrictions on social gatherings across the world have lowered the demand for stemware during Covid-19. Ongoing threat of new coronavirus variants is estimated to lead to challenges in the global stemware market.
Asia Pacific to hold Major Share in the Global Stemware Market
- In terms of region, the global stemware market can be divided into North America, Europe, Asia Pacific, Middle & East Africa, and South America.
- Asia Pacific dominates the worldwide stemware market as launch of restaurants and hotels has increased rapidly in the region. China is leading the growth of the Asia Pacific market due to advanced production and easy availability of stemware with high quality raw material.
- Europe is also expected to hold significant share in the global stemware market during the forecast period. European countries such as Italy, France, and Spain have maximum consumption of wine and beer, which will help to increase the demand for stemware in the Europe market.
Key Players Operating in the Global Stemware Market
Key manufacturers of stemware are focused on designing bespoke designs along with standard product catalogues to cater to a diverse consumer base. Investment in new materials, robust marketing and promotion, and strategic partnerships are key focus areas of stemware manufacturers. Companies are focusing on aggressive marketing, participation, and promotion in trade shows in order to increase their market positioning throughout target areas.
Major players operating in the global stemware market includes:
- Lenox Corporation
- Riedel Tiroler Glashuette GmbH
- Villeroy & Boch
- Ocean Glass Public Company Limited
- Denby Pottery Company Ltd
- Bormioli Rocco
- The Zrike Company, Inc.
- WMF Wurttembergische Metallwarefabrik
- Libbey, Inc.
- ARC Internation
- Guy Degrenne
- Lifetime Brands, Inc.
Global Stemware Market: Research Scope
Global Stemware Market, by Type
- Absinthe glass
- Wine glass
- Champagne glass
- Cocktail glass
- Margarita glass
- Other (Sherry glass, Beer glass, Shifter, etc.)
Global Stemware Market, by Price
Global Stemware Market, by Material
- Other (Metals, Fiber, etc.)
Global Stemware Market, by End-use
- Hotels and Restaurants
- Bars and Pubs
- Other (Cafés, etc.)
Global Stemware Market, by Pack
- Up to Set of 2
- Set of 4
- Set of 6
- Set of 8
- More than Set of 8
Global Stemware Market, by Distribution Channel
- E- commerce Websites
- Company Owned Websites
- Hypermarket & Supermarket
- Specialty Stores
- Other Retail Stores
Global Stemware Market, by Region
- North America
- Rest of 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
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