Glass tableware is a type of product that is used to serve food for eating and other functions as part of a table arrangement. They are made of various materials such as glass, ceramics, and steel. Glass tableware is divided into three categories: glass dinnerware, glass beverageware, and glass flatware.
The Global Glass Tableware Market is expected to exceed US$ 16,933.87 million in sales by the end of 2028, rising at a CAGR of 6.10 percent during the forecast period (2021 to 2028).
The glass tableware market is predicted to develop due to the rapid growth of the urban population. According to the United Nations, the world's urban population has expanded fast since 1950, rising from 751 million in 1950 to 4.2 billion in 2018. The rise in the urban population is caused by both an increase in the overall population and an increase in the percentage of people living in cities. These two variables are expected to add 2.5 billion people to the world's metropolitan population by 2050.
Strong expansion in the hospitality industry is a major element driving the growth of the glass tableware market. According to the National Restaurant Association, the restaurant business in the United States is expected to generate $899 billion in sales. Furthermore, increased investment in restaurants by multinational brands in emerging economies such as India and China is expected to drive glass tableware market growth, as glass tableware is widely utilized in the hotel and catering industries.
In 2020, Asia-Pacific dominated the Global Glass Tableware Market, accounting for 38.32 percent of revenue, followed by North America and Europe, respectively. As a result of increased urbanization throughout the world.