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The decanter market share is expected to increase by USD 110.45 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.69%.
This decanter market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the decanter market segmentation by material (glass and plastic) and geography (Europe, North America, APAC, South America, and the Middle East and Africa). The decanter market report also offers information on several market vendors, including Be Fun LLC, Bormioli Luigi Spa, Fiskars Group, Godinger Silver Art Co., Lenox Corp., Ngwenya Glass Swaziland/Eswatini, Prestige Decanters, Ravenscroft Crystal, Royal Selangor International, Saverglass SAS, Tiroler Glashutte GmbH, Wine Enthusiast Co., ZALTO Glas GMBH, and Zwiesel Kristallglas AG among others.
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The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the global decanter market.
Key Decanter Market Driver
The growing number of pubs, bars, hotels, and home bars is one of the key factors driving the global decanter market growth. The growing number of bars, pubs, and hotels across the world, owing to the concept of socializing at pubs, bars, liquor-serving cafes, and lounges, is expected to drive the global decanter market during the forecast period. This growth is triggered by various other factors, such as demographics, the increase in the working population, changes in lifestyles, and urbanization. According to the United Nations (UN), around 68% of the global population will live in urban areas by 2050. This growth in the influx of people to urban areas and a substantially large percentage of white-collared professionals have supported the launch of pubs, bars, liquor-serving cafes, and lounges. This has a direct impact on the purchase of tableware products for drinking, such as decanters, in the commercial sector. For instance, the business growth of bars and nightclubs in the US grew by 2.5% in 2021 when compared with 2020. The increase in the number of house parties also drives the demand for decanters among residential customers. These factors are expected to fuel the growth of the global decanters market during the forecast period.
Key Decanter Market Trend
The personalization of drinkware for gifting purposes will fuel the global decanter market growth. The culture of gifting drinkware for special occasions such as weddings, anniversaries, and housewarming functions has become popular worldwide, especially in Western Europe and North America. Hence, consumers are increasingly buying personalized drinkware products with customized messages imprinted on them to gift to others besides for their own use. Personalized drinkware products are suitable for any business or promotional event, or occasion. Vendors are introducing in-house laser engraving technology that allows buyers to customize their messages, thus increasingly extending the features of their offerings. Customizing gifts using personalization tools or on-demand printing adds value to general gifts. Consumers can choose from different materials and a wide range of fonts. This trend is expected to support the growth of the global decanter market during the forecast period.
Key Decanter Market Challenge
The criticality of inventory management and product sourcing are the major challenges to the global decanter market growth. Managing inventory is a key concern for vendors. Inventory concerns have evolved in tandem with changing consumer shopping patterns. Consumer preferences change over time, speeding up the inventory turnover requirements. Suppliers or manufacturers of decanters must adjust to the small orders placed by wholesalers and retailers, which creates the need for improved inventory turnaround time. This predominantly increases the raw material, quality control, transportation, and labor costs incurred by manufacturers. Owing to the global increase in energy prices and the rise in manufacturing costs in China, vendors operating in the market have begun to seek more cost-effective and efficient production locations. The extended lifespan of drinkware, such as decanters leads to slow-moving or obsolete inventories. Strong supply-chain relationships are extremely important for effective inventory management. To cope with this issue, most of the makers of drinkware, such as decanters, rely on in-house or third-party information technology (IT) tools to improve the manufacturing and distribution processes. All these factors hinder the growth of the global decanter market during the forecast period.
This decanter market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global decanter market as a part of the global metal and glass containers market within the overall global containers and packaging market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the decanter market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the decanter market encompasses successful business strategies deployed by the key vendors. The decanter market is concentrated, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The decanter market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the decanter market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global containers and packaging market includes the following core components:
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
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28% of the market’s growth will originate from Europe during the forecast period. The UK and Germany are the key markets for the decanter market in Europe. Market growth in this region will be slower than the growth of the market in other regions.
The growing number of pubs, bars, hotels, and home bars will facilitate the decanter market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 had a major impact on Europe. Italy was one of the worst-hit places, with around 1.23 lakh COVID-19 deaths. The economy of several countries was negatively affected due to the imposition of lockdowns in 2020, which included a decline in the production of decanters. In H2 2021, due to the availability of vaccines and the decline in the number of COVID-19 cases, the nationwide lockdowns were lifted. The demand for decanters in the region returned to normal as retail outlets such as grocery stores, convenience stores, hypermarkets, and supermarkets reopened in the region. Following the outbreak of COVID-19, consumers in the region have been taking their health more seriously. Thus, the regional decanter market is expected to grow during the forecast period.
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The decanter market share growth in the glass segment will be significant during the forecast period. A glass decanter with a broad base enhances the amount of oxygen and speeds up the decanting process because it has been shown that some wines take longer to decant than others. The lead improves the index of refraction and provides a significantly more sparkling look, making lead crystal glass decanters a popular alternative to ordinary glass.
This report provides an accurate prediction of the contribution of all the segments to the growth of the decanter market size and actionable market insights on the post-COVID-19 impact on each segment.
Decanter Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.69% |
Market growth 2022-2026 |
$110.45 million |
Market structure |
Concentrated |
YoY growth (%) |
2.8 |
Regional analysis |
Europe, North America, APAC, South America, and the Middle East and Africa |
Performing market contribution |
Europe at 28% |
Key consumer countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Be Fun LLC, Bormioli Luigi Spa, Fiskars Group, Godinger Silver Art Co., Lenox Corp., Ngwenya Glass Swaziland/Eswatini, Prestige Decanters, Ravenscroft Crystal, Royal Selangor International, Saverglass SAS, Tiroler Glashutte GmbH, Wine Enthusiast Co., ZALTO Glas GMBH, and Zwiesel Kristallglas AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Material
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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