The Barware Market is likely to hold the global market at a moderate CAGR of ~4.9% during the forecast period. The global market holds a forecasted revenue of ~USD 6.2 Billion in 2022 and is likely to cross ~USD 10 Billion by the end of 2032.
The Barware market is anticipated to show promising growth prospects during the forecast period, expanding the Barware market size.
| Attribute | Details |
|---|---|
| The Barware Market Estimated Size (2021) | ~USD 5.4 Billion |
| The Barware Market Estimated Size (2022) | ~USD 6.2 Billion |
| The Barware Market Projected Size (2032) | ~USD 10 Billion |
| The Barware Market CAGR (2022 to 2032) | ~4.9% |
Barware are observing a steady market growth, thanks to increasing number of casual alcohol drinkers and increase in trend of having a house bar. Having barware handy in house is becoming a necessity, as many people are serving alcohol and fancy cocktails in designer glasses, as it is considered as an aesthetic and a sign of Class in society.
The barware mainly include different glasses designed specifically for a type of drink, like wine glass, beer mugs, sherry glasses, shot glasses, highballs, etc., and other tools, utensils, accessories and mixing equipment required to make and serve beverages just like bars. Most of these glasses are made from traditional silica glass, but there are other options like steel, wood, ceramic and coloured plastic.
Not only are bars looking for new kinds of barware as they give original or distinctive experiences when pouring beverages, but this barware is also growing in favour among households. Bars will always have a need for various types of glasses, ice-shaping equipment, mixing glasses, or strainers, etc.
Middleclass people are all around the world and the number of middle class households are still increasing. Thanks to the growing economy and disposable income, many people who like to live a lavish and luxurious life are spending money on amenities which are considered as Premium.
Having fancy cutlery and glass sets is also considered as a sigh of high class. Hence many middle class families are adding barware into their inventory to impress guests and leave an impression. Many enthusiasts always seeking ways to decorate their house are also in search of unique looking cutlery.
As a result, barware is also gaining popularity as dcor, and not just a utility tool. There is a trend of gifting cutlery while visiting someone, or during any occasion.
Along with the above facts an increase in the number of regular drinkers is another factor driving the barware industry upward. Bars are consistently the largest consumers of barware, and since the trend for themed bars and restaurants is spreading, the desire for personalised barware is rising as well, helping to fuel the barware market.
Diversified market and unorganised sector is proving to be a challenge in front of barware market. There are number of different barware, and many of them are sold by some specific sellers who produce them.
The main selling channel is online markets, which was supposed to simplify the unorganised market, but the number of online channels only increased confusion for manufacturers and vendors. The unorganised structure of market is also fuelling the omission of tariffs and taxes on these products, clearly ignoring the laws regarding trades.
The unexpected COVID-19 outbreak also had massive impact on the barware market. During lockdown period, all the public places were closed, and there were restrictions on public gathering, many businesses were closed and only essential services were in action. This sudden drop in demand harshly affected the barware market.
USA is home of alcohol lovers, with about 86% of the people consuming alcohol. As there is such high demand for alcohol, there are lots of bars in all the states. There are some special bars, which are based on a theme, like Harry Potter themed Lockhart bar or Beetle House bar, which is completely based on dark and creepy concept, like a Halloween party.
To decorate and present drinks to the customers, there are different innovative ideas and concepts to stand out in the competition. These bars use all sorts of weird looking and theme based glasses and equipment for preparing drinks, to give customers a unique experience.
European countries rank top most when it comes to beer consumptions. There are lots of bar and many of them are specially designed only for beer lovers. Czech Republic, Austria, Germany, Poland etc. and many countries have high number of beer drinkers. Many beer lovers also have beers at home and drink while watching movies and sports.
To serve beer to guests, many households prefer beer mugs and tall glasses, made from wood and glass in different sizes and shapes. These beer glasses and mugs are one of the must have barware in European households.
Some key players in the Barware market are Corelle, Lifetime Brands, William Sonoma, Noritake, True Fabrications, Ikea, Wedgwood, Shaze, Rachael Ray, Libbey, Cocktail Kingdom, Schott Zwiesel and Fiskars and others.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of ~4.9% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical Data Available for | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative units | Revenue in USD Billion, volume in Units, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, pricing analysis |
| Segments covered | Product Type, End User, Region |
| Country scope | USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Thailand, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, South Africa |
| Key Companies Profiled | Corelle; Lifetime Brands; Wedgwood; Shaze; Rachael Ray; Libbey; Williams Sonoma; Noritake; True Fabrications; Ikea; Cocktail Kingdom; Schott Zwiesel and Fiskars; Others |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The Barware market is expected to reach a valuation of ~USD 6.2 Billion in 2022.
The increasing number of middleclass families, trying to elevate their social status, increasing casual alcohol drinkers and improving lifestyle are some of the trends responsible for driving barware market.
Leading players operating in Barware market are Shaze, Rachael Ray, Libbey, Cocktail Kingdom, Corelle, Lifetime Brands, William Sonoma, Noritake, True Fabrications, Ikea, Wedgwood, Schott Zwiesel and Fiskars and among others.
Barware Market
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