Decanter Market to Garner $528.3 Mn, Globally, by 2030 at 4.1% CAGR: Allied market Research

Premiumization of decanters, spirit tourism, and proliferation of on-premise consumption of alcohol drive the growth of the global decanter market.

PORTLAND, Ore., Sept. 30, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Decanter Market by Material (Glass and Plastic), End User (Commercial and Residential), and Sales Channel (Offline Channels and Online Channels): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global decanter industry was pegged at $354.75 million in 2020, and is expected to reach $528.3 million by 2030, growing at a CAGR of 4.1% from 2021 to 2030.

Drivers, restraints, and opportunities

Premiumization of decanters, spirit tourism, and proliferation of on-premise consumption of alcohol drive the growth of the global decanter market. However, negative health and social impact of alcohol and use of lead in making crystal glass decanter hinder the market growth. On the contrary, sales of decanter via online channels and popularity of plastic decanters present new opportunities for the market players in the future.

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Covid-19 scenario:           

• The Covid-19 pandemic negatively affected the sales of decanter as the prolonged lockdown across Asian and European countries disrupted the supply chain.
• Majority of the sales of decanter via brick-and-mortar stores shifted to online sales channels during the pandemic.
• However, increase in disposable income and expansion of the hospitality industry is likely to help the market get back on track post-pandemic.

The glass segment dominated the market

By type, the glass segment held the lion's share in 2020, accounting for more than 95% of the global decanter market, as glass decanters have become a symbol of status and grandeur. However, the plastic segment is estimated to register the highest CAGR of 5.4% during the forecast period, owing to its cost-effectiveness and superior durability as compared to glass decanters.

The commercial segment to manifest the highest CAGR through 2030

By form, the commercial segment is projected to manifest the highest CAGR of 5.0% from 2021 to 2030, due to rise in outdoor consumption of alcoholic beverages. However, the residential segment held the largest share in 2020, contributing to around three-fourths of the global decanter market, owing torise in consumption of alcohol and increase in demand for decanters in residential areas.

Europe, followed by North America, held the largest share

By region, the global decanter market across Europe, followed by North America, dominated in terms of revenue in 2020, accounting for nearly three-fifths of the market, due to presence of market players and high penetration of decanters. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 6.3% during the forecast period, owing to rise in urban population and improved standard of living in the region.

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Major market players

• Bormioli Luigi S.p.A.
• Fiskars Group
• Godinger
• Lenox
• Ngwenya Glass
• Prestige Decanters
• Riedel
• Royal Selangor
• Saver Glass
• Tossware

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