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Manufacturing Technology Insights | Tuesday, February 15, 2022
An outlook on the increasing growth of the Glass Tableware Market for the APAC region.
FREMONT, CA: According to the recent research report, Glass Tableware Market by Product and Geography - Forecast and Analysis 2021-2025, the growth of the glass tableware market is driven by the increasing number of hospitality sectors. APAC will grow at a rapid rate between 2021 and 2025, accounting for 39 percent of global growth. Glass tableware is mostly sold in China, India, and Japan in APAC. As a result, APAC's market would grow at a faster rate than the sector in other regions. Throughout the projected period, the rapid rise of the hospitality industry and an increase in pub and bar culture would boost the growth of the glass tableware market in APAC.
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Furthermore, as economic activity increases, lower-middle-class populations in many nations are rising up to the upper-middle class. As a result of this transformation, demand for high-end consumer goods and commodities, such as glass dinnerware is increasing. Many consumers in the region are switching from traditional stainless steel, plastic, and melamine tableware to glass tableware, which is driving the glass tableware market in the region forward. The worldwide foodservice sector is being driven by factors such as increased food consumption in terms of frequency of eating out, increased awareness and tendencies among the youth to try new cuisines, and consumer brand sensitivity. Eating out has increased as a result of urbanization, greater disposable income, and busy lifestyles.
Furthermore, as a result of globalization, the youth are becoming more aware of and interested in a variety of international cuisines. As a result, the hotel business has expanded throughout the world, benefiting market growth. Some of the major players in the glass tableware sector are Borosil Glass Works Ltd., Anhui Deli Household Glass Co. Ltd., Ocean Glass Public Co. Ltd., Arc Holdings, Lenox Corp, Libbey Inc., Kavalierglass AS, LA Opala RG Ltd., The Oneida Group Inc., and Turkiye Sise ve Cam Fabrikalari AS.
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