Strategic Analysis to Understand the Competitive Outlook of Glass Tableware Market • July 22, 2021
Shubham Jamdade
According to a new market report published by Transparency Market
Research titled “Glass Tableware Market – Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast, 2019 – 2028,” the global glass tableware market is
expected to reach US$ 10.8 Bn by 2027, expanding at a CAGR
of 2.9% from 2019 to 2027. Asia Pacific held the highest market share in the glass
tableware market in 2027.
The Glass Tableware Market report provides an analysis of the global glass tableware
market for the period 2017 – 2026, wherein 2018 is the base year and 2019 to 2027 is
the forecast period. Data for 2017 has been included as historical information.
The report covers all the prevalent trends and technologies playing a major role in the growth of the market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market growth during the said period.
Growth of the hotel & catering industry is projected to drive demand for glass tableware in the near future. Increase in investments in the hotel & catering industry in emerging countries such as India and China has fueled the growth of the glass tableware industry. Moreover, glass tableware products are widely used in the hotel & catering industry. Furthermore, rise in disposable income of consumers has resulted in increase in expenditure on travel and tourism. This in turn boosts the growth of the hotel industry.
The tableware industry is set for an explosion and is ready to witness many innovations in terms of design and material, driven by changes in fashion, lifestyle, economic conditions, and demographic factors. Tableware manufacturers are experimenting with different shapes, colors, materials, and textures to attract consumers. There is an increased demand for visually appealing as well as functional tableware.
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