According to a new market report, the global glass tableware market is estimated to reach market size worth $8,828.5 million in 2017.
The "Glass Tableware Market - Global and Egypt Industry Analysis, Market Size, Trends and Forecast, 2011 - 2017," published by Transparency Market Research, reports that the highest contribution to the net market growth is expected by the glass beverage-ware market segment, which will almost double during the six years period, growing at the fastest rate as compared to all the other segments.
Some of the factors driving the market growth include the growing tourism sector, especially the hotel and catering industry, developing retail industry, and gradual organisation of the market.
The market is largely influenced by growing consumerism and trends such as growing preference for designer tableware, changing consumer buying behaviour, and other demographic and social trends. The increase in demand from emerging markets and the growing hospitality industry are among other factors, which are significant contributors to the global glass tableware market growth.
Among all regions, EMEA holds the largest market share, especially due to excessive demand in the European markets, across both Western and Eastern Europe regions. The Latin America market is forecasted to register the highest percentage growth for the period 2011 - 2017. It is closely followed by Asia Pacific, which is forecasted to register a marginally less percentage growth during the same period. Though North America and the EMEA region are forecasted to grow in the near future, they are estimated to lose their market share due to slow growth rate as compared to the other regions.