Global Glass Tableware Market to Reach US$8.8 bn by 2017, Rise in Hotel and Catering Industry Fuels Demand

2024-04-19 11:19:25 News & Society

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Transparency Market Research (TMR) has recently published a study on the global glass tableware market with a special focus on Egypt market. The report estimates the global market to rise at a CAGR of 6.0% during the period from 2011 and 2017 and reach US$8.8 bn by 2017 from a value of US$6.2 bn in 2011.The market study is titled, ?Glass Tableware Market - Global And Egypt Industry Analysis, Market Size, Trends And Forecast 2011 ? 2017.?

The global glass tableware market has been witnessing remarkable growth in its valuation since the last few years. The rapid rise in the hotel and catering industry has fueled the demand for glass tableware significantly in the recent times. Apart from this, the shift in the consumer preference for high-end tableware, fueled by the rise in their disposable income, is likely to boost this market in the coming years. By the end of the forecast period, analysts expect the worldwide glass tableware market to increase approximately by 40% of its value in 2011.

The report evaluates the global market for glass tableware on the basis of the product and its regional distribution. Based on the product, the market has been classified into glass dinnerware, glass beverage-ware, and glass flatware. The beverage-ware segment led the overall market in 2011 and was closely followed by the dinnerware segment. Analysts project this segment to retain its lead over the forthcoming years and account for a share of more than 50% in the overall market by the end of the forecast period. Stemware and barware are the key glass beverage-ware available in the global market, notes the research study.

Regionally, the study has segmented the worldwide market for glass tableware into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Europe and the Middle East and Africa jointly led the overall market in 2011. However, Asia Pacific and Latin America are likely to register the fastest growth over the forecast period with Asia Pacific acquiring the leading position in the coming years.

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The increasing disposable income of consumers owing to the economic development in these regions is the prime factor that is likely to drive the demand for glass tableware in Asia Pacific and Latin America during the forecast period. The rise in the tourism industry is also projected to boost this market in these regions, states the report.

The report further analyzes the Egypt market for glass tableware and states that, compared to other European markets, it exhibits slower growth. The low demand for glass beverage-ware in this region owing to cultural barriers that prevent individuals from consuming alcohol is impacting this market negatively. Experts predict this trend to continue in the near future.

The major international manufacturers of glass tableware, mentioned in this report are Anchor, Pearl Glass Co., Arc International, Sisecam, Bormioli, Leonox, Pyramid Glass, WMF Group, Libbey Inc., and City Glass.

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