Growth Accelerated by Surging Demand for Cocktail and Mixed Drink Preparation

 

Margarita glasses are specially designed glassware intended for preparation and consumption of margarita cocktails and mixed drinks. The unique salt-rimmed design significantly enhances the flavors of the cocktail, by providing a salted edge to lick between sips. The demand for margarita and specialty cocktails has been surging rapidly in recent years, especially in restaurants, pubs, lounges and bars.

The global Margarita Glass Market is estimated to be valued at US$ 648 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing popularity of social gatherings in restaurants and bars and shift in consumer preference towards flavored and specialty alcoholic drinks has been a major driver for the surging demand of premium and unique glassware like margarita glasses in the recent years. The visually appealing and taste-enhancing design of margarita glasses is primarily augmenting their adoption for serving margaritas and mixed drinks in lounges and bars. Glass manufacturers are launching innovative designs and varieties of margarita glasses in different sizes and shapes to tap the growth opportunities in appetizing glassware market.

Segment Analysis

The global margarita glass market is dominated by the rocks glass segment. Rocks glasses, also known as old fashioned glasses, are short tumbler-style glasses used for cocktails containing ice or spirits over ice. They are suitable for serving margaritas on the rocks. The rocks glass segment accounts for over 40% share of the global margarita glass market owing to its practical application. Margaritas are often enjoyed over ice and rocks glasses allow for a balanced mix of ice and liquor while retaining its chilled temperature for a long period.

Key Takeaways

The global margarita glass market is expected to witness high growth over the forecast period of 2023 to 2030. The market is forecast to grow at a CAGR of 6.9% during the forecast period to reach a value of US$ 1,080 Mn by 2030 from US$ 648 Mn in 2023.

Regional analysis
North America currently dominates the global margarita glass market and is expected to continue its dominance over the forecast period. The region accounts for around 35% share of the global market owing to high consumption of cocktails and popularity of Mexican cuisine and margaritas in the US and Canada. Mexico is also a major consumer market for margarita glasses in the region.

Key players
Key players operating in the margarita glass market include Libbey, Arc International, Bormioli Rocco, Ocean Glass, RONA, City Glass, Sisecam, ADERIA GLASS (Ishizuka Glass Co. Ltd.), Duralex, Bormioli Luigi, Huapeng, RCR Cristalleria Italiana, Anchor Hocking, Nachtmann, Stölzle Lausitz, Vetroelite, Schott Zwiesel, Baccarat, Denby Pottery, and Villeroy & Boch. Libbey and Arc International are the dominant players owing to their widespread distribution network and variety of margarita glass designs.

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