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 ~US$ 6.2 Billion in 2022 and is likely to cross ~US$ 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)
~US$ 5.4 Billion
The Barware Market Estimated Size (2022)
~US$ 6.2 Billion
The Barware Market Projected Size (2032)
~US$ 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.
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Barware Is Becoming A Sign Of Being Socially Upward, Gaining Popularity Among Middle Class Households
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 décor, 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.
Improper And Unorganised Sector Is Having Negative Effect On 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.
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Country Insights
Themed bars are trending in USA, attracting people seeking out-of-the world experiences.
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.
Beer lovers in European countries are always equipped with a beer mug.
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.
Competitive Landscape
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.
Shaze, a premium store providing number of gift items and accessories, which are luxurious is also manufacturing and providing premium barware. There are bar tables, glass sets, decanters and many more for luxury lovers. These barware is handcrafted and specially designed to suit a high-class, royal household.
Perigold is a drinkware and barware manufacturing company providing all sorts of bar utilities. They provide glasses, decanters, chillers, tools, carts, coasters etc. all of them are unique and designed to catch eyes.
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Scope Of Report
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.
Key Segments Profiled In The Barware Market
By Product Type:
Glasses
Tools
Chillers
Others
By End User:
Household
Bars
Restaurants
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
Frequently Asked Questions
What is the current Barware market value?
The Barware market is expected to reach a valuation of ~US$ 6.2 Bn in 2022.
What are the key trends driving the Barware Market?
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.
Who are the leading players in the 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.
