Global Glass Tableware Market to Reach US$8.8 bn by 2017, Propelled by Rapid Rise in Hotel and Catering Industry
Market Research Reports Search Engine (MRRSE) has recently announced the addition a new market study on the glass tableware market in Egypt and across the globe. The research report is titled “Glass Tableware Market – Global And Egypt Industry Analysis, Market Size, Trends And Forecast 2011 – 2017” and has been published by Transparency Market Research (TMR), a market intelligence and research firm.
According to the research study, the worldwide glass tableware market is estimated to rise from a value of US$6.2 bn in 2011 to US$8.8 bn by 2017 at a CAGR of 6.0% between 2011 and 2017. The rapid growth of the hotel and catering industry across the globe has propelled this market significantly.
The rising trend of nuclear families, together with increasing disposable incomes of the middle-class population, is also expected to drive the growth of this market extensively during the forecast period. However, the augmenting prices of raw materials and the difficulty faced in maintaining the desired level of temperature in glassware are likely to hamper the market’s development in the forthcoming years, notes the market study.
The market report classifies the global as well as Egypt glass tableware market into flatware, dinnerware, and beverage-ware. Currently, the beverage-ware segment is leading the overall market with the majority share and is closely followed by the dinnerware segment.
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Analysts at TMR expect the market segment to maintain this trend during the forecast period. The increasing preference for crystal beverage glassware in homes as well as restaurants, owing to its appealing and sophisticated looks, is likely to boost the market to a great extent, states the report.
The research study further segments the beverage-ware market into stemware, barware, and other glassware.
For the purpose of the market report, the glass tableware market has been segmented geographically into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to post the highest growth during the forecast period.
Market experts anticipate the increase in the middle-class population base to be the key driving force behind this exponential rise. Asia Pacific is also projected to report the fastest growth rate while North America and Europe are likely to experience a moderate rise over the forecast period. The Egypt glass tableware market is projected to register relatively slower growth during the same time frame, says the study.
Bormioli, Sisecam, City Glass, Arc International, Anchor, WMF, Pearl Glass Co., Leonox, Pyramid Glass, and Libbey Inc. are the key companies functioning in the global glass tableware market, states the research report.