The global glass tableware market is highly competitive in nature with a large number of international players operating in it, says a new research study by Transparency Market Research (TMR). Bormioli Rocco group, Libbey Incorporation, Sisecam (Pasabache), Arc International, and Anchor Hocking Company are some of the leading players in the global glass tableware market. In 2011, Arc International, Libbey Incorporation, and Sisecam (Pasabache) collectively held a share of 43.1% in the global market and are making notable efforts to remain in the leading position throughout the forecast period. Key players are focusing on product innovation and research and development activities to gain a competitive advantage in the overall market.
According to the research study by TMR, in 2015, the global glass tableware market was valued at US$7,743.5 mn and is estimated to reach a value of US$8,828.5 mn by the end of 2017. The market is projected to register a significant growth rate in the next few years.
Improving Economic Conditions to Offer Favorable Growth Opportunities for EMEA Glass Tableware Market
Among the key geographical segments, EMEA accounts for a massive share in the global glass tableware market at present and is estimated to reach a value of US$2,884.2 mn by the end of 2017. The high growth of this region can be attributed to the rising demand for new and innovative types of glass tableware. In addition, the improving economic conditions and adoption of new standards and regulations are estimated to fuel the growth of the glass tableware market in EMEA. On the other hand, Asia Pacific and Latin America are estimated to experience robust growth in the next few years.
Furthermore, the research study emphasizes on the Egypt market for glass tableware in the EMEA region as it holds lucrative opportunities for the leading market players. The easy availability of high-quality raw materials is one of the primary factors fuelling the growth of the glass tableware market in Egypt. This nation is estimated to present substantial growth prospects in the forecast period.
Rising Number of Distribution Channels to Propel Global Glass Tableware Market
The growing middle-class population across the globe and their rising disposable income are some of the primary factors boosting the demand for glass tableware. In addition, the development of catering industries is estimated to accelerate the growth of the market throughout the forecast period. The rising number of malls, supermarkets, and specialized retail stores and development of the retail industry are augmenting the market growth. However, the mounting raw material prices and several difficulties faced by the manufacturers in maintaining the desired temperature levels at manufacturing units are restricting the growth of the overall market.
Nonetheless, the growing demand for luxury casual products and development of innovative and attractive glass tableware products are expected to generate potential opportunities for key players in the glass tableware market across the globe.
Developing Hospitality Industry to Bolster Glass Tableware Market in Egypt
Egypt is an attractive tourist location, owing to which the hotel industry here has been witnessing tremendous growth. This is estimated to boost the demand for attractive glass tableware in Egypt. In addition, the rising purchasing power of consumers and improving lifestyles are expected to encourage the growth of the Egypt glass tableware market. On the other hand, a significant reduction in investments in this market and limited sodium carbonate supply are projected to hamper the growth of the market in the coming years. However, the introduction of affordable table glassware products for a growing middle-class population is expected to drive the Egypt market in the near future.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Glass Tableware Market - Global and Egypt Industry Analysis, Market Size, Trends and Forecast 2011-2017.”
The global and Egypt glass tableware market has been segmented as below:
Global and Egypt Glass Tableware Market, by Product
- Glass Dinnerware
- Glass Flatware
- Glass Beverage-ware
Global and Egypt Glass Tableware Market, by Geography
- North America
- Rest of the World
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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