The global beer glassware market size is expected to reach USD 473.3 million by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 3.4% during the forecast period. Increasing consumption of craft beer as a result of shifting consumer preference towards flavored or low ABV beer is expected to expand the market reach. In addition, rising number of alcohol-serving restaurants, pubs, bars, and clubs in developing countries including China and India is projected to fuel the demand for various drinkware products including glasses.
Pint segment is expected to lead the market over the next few years. These traditional glasses are the most commonly used for drinking beer. Consumers prefer pints as they accommodate more alcohol and have large crowning heads. Majority of commercial places including restaurants, bars, and pubs use pints to serve beer, which is anticipated to further fuel the product demand.
The household application sector is expected to register the fastest CAGR of 4% from 2019 to 2025. Rising number of house parties coupled with popularity of drinking games among adults are anticipated to promote the product demand from the household sector in the upcoming years.
Online distribution channel segment is expected to witness the fastest CAGR of more than 4% from over the forecast period. Rapid rise in the number of smartphone users is anticipated to bode well for online shopping. Assured safety, safe transportation, and hassle-free product delivery among others are some of the major factor driving the adoption of this distribution channel.
In 2018, Europe held the largest market share of over 30% in terms of revenue. Increasing penetration of microbreweries in Germany, Poland, U.K., Netherlands, Spain, France, and Belgium, among other countries has been fueling the regional product demand. Furthermore, growing trend of home-brewing in Germany, Denmark, and Finland has been promoting the demand for beer glasses in Europe.
Key participants operating in the beer glassware market include Libbey, Inc.; Arc International; Bormioli Rocco; Corelle Brands, LLC; Oneida Group; Bayerische Glaswerke GmbH; The Boelter Companies; Shanxi Dahua Glass Industrial Co., Ltd.; Duralex USA; and Ocean Glass.
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Further key findings from the report suggest:
- Pints segment generated a revenue of more than USD 120 million in 2018owing to high convenience the product offers
- Weizen glass is expected to account for 9.7% of the global revenue share by the end of 2025
- Asia Pacific is expected witness the fastest CAGR of 6.2% from 2019 to 2025. Rise in working class population in emerging economies including China and India is projected to open new avenues Over the forecast period
- Europe led the beer glassware market in 2018, accounting for a one-third of the global revenue share
- Household application is expected expand at a CAGR of 4.0% from 2019 to 2025