The report provides comprehensive, detailed, and authentic information on the glass tableware market. Qualitative and quantitative analysis by industry professionals has been included in the report, which will help formulate corporate strategies for market expansion or market entry.
Albany, NY -- (SBWIRE) -- 02/18/2016 -- The global glass tableware market is expected to grow at a healthy rate during the period 2011 – 2017, with growth largely contributed by Asia Pacific and EMEA (Europe, Middle East, and Africa) regions. The market was estimated to be worth USD 6,200 million in 2011. Despite the approaching saturation in Western markets for regular glassware products, development of designer glass tableware and multipurpose glass tableware has created new opportunities, and the market is expected to sustain the growth trends.
The report analyzes the global glass tableware market based on the major product types, such as – dinnerware, flatware, and beverage-ware. The beverage-ware market segment holds the highest market share followed by dinnerware. The beverage-ware market is further segmented into barware, stemware, and others, for in-depth analysis. It is estimated that more than fifty percent of the total growth in the global glass tableware market during 2011 – 2017 is expected to be contributed by the beverage-ware segment alone, which makes it the best segment to invest in.
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The beverage-ware market in North America and Eastern Europe is expected to see moderate growth due to changing preference for crystal beverage glassware, which looks more elegant and attractive. For the same reason, it is preferred in the hotel industry, which is a potential end customer for the global glass tableware market, especially glassware. However, with the fast economic growth in Eastern markets such as Asia Pacific and Latin America, and the resultant rise in consumerism, the global glass tableware market is expected to see a moderate to high growth across various geographies.
Among the geographical markets, Latin America and Asia Pacific are the fastest growing regions, but EMEA holds the largest market share as in 2011. However, Asia Pacific is expected to surpass the EMEA glass tableware market by 2017 due to fast economic growth, growing tourism industry, and the rising middle class population. The maximum growth in the global glass tableware market is forecasted in the Asia Pacific region, which is estimated to account for approximately fifty percent of the total market growth during 2011 – 2017. The glass tableware market growth in Egypt is relatively slow as compared to European regions, largely due to low demand for glass beverage-ware. Cultural barriers towards alcohol consumption have negative effect on the beverage-ware market, especially stemware and barware markets.
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Globally, the glass tableware market growth is supported by many social, economic and demographic factors. The major contributors are – economic development in emerging countries, development of new and novel glass tableware products, improvement in manufacturing and packaging technologies, and growing disposable household income.
Consumers now prefer to dine out and travel frequently, which is driving the growth of the hotel industry, and in turn the growth of the glass tableware market. Rise in disposable income has augmented the use of glass tableware at home, which is further driving the market growth.
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Leading players in the global glass tableware industry includes renowned names such as Arc International, Libbey Inc., Bormioli Rocco group, WMF, and Lenox Corporation. Arc International is the global leader with the highest market share, and is closely followed by Libbey Inc. The Egyptian glass tableware market is dominated by companies such as Egyptian Glass co., and El Nasr Glass & Crystal Co.
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