Top 3 Factors Providing Impetus to Global Glass Tableware Market

Published By : 07 Jul 2016 | Published By : QYRESEARCH

In spite of the foreseen saturation within the Western markets for the demand for regular glassware products, the advancement of sophisticated and multipurpose glass tableware has brought in new opportunities. This is why the glass tableware market is predicted to grow in the coming years. 

There are a number of factors fuelling the growth of the global glass tableware market:

  • Expanding Catering and Hotel Industry: The increasing development of the catering as well as the hotel industry in the past few years has emerged a key factor fuelling the global glass tableware market. Within hotel and the catering industries, the glass tableware is being extensive utilized for enhancing the aesthetic appeal of banquet halls, dining areas, and lounges. This is why, a number of product introductions in the market have largely contributed to the growth of this market.
  • Rising Middle-Class Population and Increasing Disposable Income of Customers: The expansion in the middle-class population has also propelled the growth of the glass tableware market. Glass tableware is being extensively utilized in middle-class households owing to the economical prices and the sophisticated product designs being introduced by the major players operating in this market. Some of these players are Bormioli Rocco group, Arc International, and Lenox Corporation, among others. 

In addition, the increasing disposable income of individuals within emerging nations has also augmented the growth of the global glass tableware market. The soaring disposable incomes of customers have also fuelled the growth of service industries. This as a result has augmented the preference for premium-glass tableware. 

  • Soaring Demand for Luxury Products: The increasing disposable incomes of customers have also resulted in an increased demand for luxury products within the global glass tableware market. For instance, the growing demand for premium beverages such as wine and champagnes globally has raised the demand for sophisticated beverage ware, thus raising the overall growth of the glass tableware market. 

However, the demand for glass tableware may be hampered by the soaring prices of materials and the issue of maintain desired temperatures in glass tableware. In addition, the increasing demand for crystal tableware owing to its aesthetic properties may also negatively impact the development of this market.

Back To Top