Investments by international hotel brands set to hike the glass tableware market

Market - Mohit Shah - Jul 06,2017

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investments by international hotel brands set to hike the glass tableware market

As per reports, the global glass tableware market is anticipated to rise at a healthy CAGR of 6.1% during the period between 2016 and 2024.

In this modern day scenario, the use of glass tableware has become an important part of commercial and household kitchens. Also, the emergence of the middle class has proven crucial for the soaring revenue in this sector on the global level.

As per a recent research report published by Market Research Reports Search Engine (MRRSE), the global glass tableware market is expected to surge at an impressive CAGR of 6.1% during the period between 2016 and 2024. At this pace, the targeted market is likely to acquire a valuation of US$14.2 billion by the end of 2024.

According to statistics, it has been analyzed that the rising investments from the international hotel brands primarily in emerging economies are acting as one of the key factors accountable for the growth of the glass tableware market. Further, increasing awareness about the environmental hazards of plastic, and the fact that it stays non-biodegradable has motivated consumers to replace plastic tableware with glass.

Presently, the various products available in the global glass tableware market include tableware, beverageware, which covers tea pots, tea or coffee jugs, pitchers and coffee brewers. Considering the geographical divergence, the emerging economies such as China, India, and Japan are expected to push the demand for glass tableware in Asia-Pacific in the coming years. The rising disposable incomes of consumers, along with their changing spending patterns, and flourishing hotel industry is acting as the architecture of the positive trajectory of the market in this region.

Arc International, Libbey Inc., Anchor Hocking LLC and WMF Group, are the notable players which have managed to acquire a significant market share in the global glass tableware sector.

 

For more information on this report visit- http://www.mrrse.com/glass-tableware-market