The global Beer Glassware Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global beer glassware market is estimated to value for USD 473.3 million, by the end of 2025, and is estimated to grow at the significant rate of 3.4% from 2019 to 2025, according to a new report by Million Insights. Beer is known to be the highest consumed beverage in the alcoholic beverage category. Increasing popularity of craft beer owing to rising consumer inclination towards flavored beer is contributing to market growth. Moreover, growing number of bars, hotels, and pubs in the countries is also expected to be a key factor driving the demand for the product.
Key Players:
- Libbey
- Arc International
- Bormioli Rocco
- Corelle Brands, LLC
- The Oneida Group
- BayeriescheGlasswerke GmbH
- The Boelter Companies
- Shanxi Dahua Glass Industrial Co., Ltd.
- Duralex USA
- Ocean Glass
Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-beer-glassware-market/request-sample
Growth Drivers:
Additionally, manufacturers are launching new flavors such as cheese, chocolate, lemons, and apple to attract large consumer base. This is gaining traction among consumers and is also expected to bolster the market growth. Increasing popularity of craft beer is propelling the product demand across the globe. Moreover, growing adoption of beer products over whiskey and rum is a key factor driving the demand for the product. Increasing inclination of youth towards drinking games and house parties are boosting the market growth.
Glassware styles include serving measures, stacking, traditions, and folk art. Drink ware manufacturers use these styles in the commercial breweries. Various types of glasses with different styles are used to enhance beer head, aroma, and appearance.
Product Outlook:
- Mugs
- Pints
- Pilsner
- Weizen
Distribution Channel Outlook:
- Offline
- Online
Regional Outlook:
In 2018, Europe accounted for a market share of over 30.0% in the overall market. The growth of microbreweries in countries such as Germany, Spain, France, U.K. and Belgium are fostering the demand for the product. In Europe more than 6000 breweries were small and medium enterprises type.
Asia Pacific is estimated to grow at the highest CAGR of 6.2% over the forecast period. The rise in beer-drinking culture especially among the younger generation of Vietnam, India, Thailand and others is expected to surge the market growth. Moreover, rising number of bars, lounges, and pubs is projected to proliferate the demand for the product over the forecast period.
COVID-19 Impact Insights
The COVID-19 pandemic has negatively impacted the global beer glassware market. During lockdown, all the restaurants, bars and hotels were shutdown which is expected to adversely impact the growth of beer glassware production. In addition, beer glassware manufacturing facilities are not working at full capacity due to lockdown measures. The supply chain disruption, and lack of labor force have hampered the growth of beer glassware products.
For instance, in April 2020, Libbey Inc., has reduced its manufacturing and distribution operations in Mexico. Moreover, to reduce capital expenses, the company has also cut down salaries of their employees. However, once the lockdown eases the market is expected to grow at sluggish rate in the next few years.
Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com
No comments:
Post a Comment