Glass tableware has become an important part of commercial as well as household kitchens over the past few years. The emergence of middle class has been pivotal to the soaring revenue of the global market. Their improving purchasing power and rising standard of living has played a crucial role in defining the demand in the global class tableware market. According to the research report by Transparency Market Research, the overall market is anticipated to reach US$14.2 bn by the end of 2024. Between the forecast years of 2016 and 2024, the global market is expected to progress at a CAGR of 6.1%.
The various products available in the global glass tableware market are beverageware, tableware, baby bottles, tea pots, cookpots, bowl, and roasters amongst others. Of these, beverageware is expected to lead the global market as it is poised to acquire a share of 34.9% by the end of the forecast period. This growth will be supported by the increasing consumption of beverages, the recyclability of beveragewares, and rising production of various types of beverages.
In terms of regions, the global market is divided into Europe, North America, Asia Pacific, the Middle East, and Latin America. Asia Pacific has been leading the global market due to improving per capita income of consumers in the region. The region is anticipated to acquire a share of 35.8% by 2024 in the global market as urbanization continues at an accelerated pace.