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Brazil Luxury Drinking Glasses Market for Service Sector is expected to reach US$ 14.11 million by 2030

Brazil Luxury Drinking Glasses Market for Service Sector is growing at a CAGR of 5.2% to reach US$ 14.11 million by 2030 from US$ 9.43 million in 2022 by Product Type, Material Type, and End Use.

By The Insight Partners

According to the latest market study on “Brazil Luxury Drinking Glasses Market for Service Sector Forecast to 2030 – COVID-19 Impact and Country Analysis – by Product Type, Material Types, and End Use,” the market size of Brazil luxury drinking glasses market for service sector was valued at US$ 9.43 million in 2022 and is projected to reach US$ 14.11 million by 2030; it is anticipated to record a CAGR of 5.2% from 2022 to 2030. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Luxury drinking glasses are highly used for serving wine, vodka, champagne, beer, and other drinks. These drinking glasses are made of different materials and are available in various designs, styles, shapes, and sizes. In Brazil, breweries selling craft beers and flavored alcoholic beverages report high demand for alcoholic beverages. The rising consumption of beverages such as beer, whisky, spirits, and wines in restaurants, cafes, and hotels drives the demand for luxury drinking glasses.

Brazil Luxury Drinking Glasses Market for Service Sector – Country Analysis

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00033006

Economic growth, tourism development, government initiatives, and global events contribute to the growth of hotel establishments in Brazil. The country has experienced economic growth, attracting domestic and international investments. A thriving economy correlates with increased business activities, conferences, and tourism, leading to the development of the hospitality industry. Brazil boasts diverse attractions, including iconic landmarks such as Rio de Janeiro, Amazon, and beaches. The country hosted major events such as the FIFA World Cup and the Olympics, contributing to an influx of tourists. High-end hotel establishments invest significantly in luxury drinking glasses to convey a sense of sophistication and exclusivity. This contributes to the aesthetic appeal of fine dining and upscale settings.

According to the BRIC Group, spending among tourists has increased since the COVID-19 pandemic, creating potential opportunities for the hospitality industry to offer luxury products and services in Brazil. Further, the Brazilian Luxury Travel Association guests and travelers requested for various services, of which 90% requests included food, 60% requests included special menu, and 71% requested for experience package in Brazil. In 2022, Rosewood Hotels announced the development of Rosewood São Paulo, offering high-end services. The hotel owns champagne glasses etched with Jean Cocteau sketches from Allard’s private collection. Therefore, the rise in hotel establishments in Brazil drives the luxury drinking glasses market for service sector.

Glasvin, Vicrila Industrias Del Vidrio SLU, Tiroler Glashutte GmbH, Rona AS, Turkiye Sise ve Cam Fabrikalari AS, Stoelzle Oberglas GmbH, Crystal Bohemia AS, Nadir Figueiredo SA, Bormioli Luigi SpA, and Leerdam Crisal Glass are among the key players operating in the Brazil luxury glasses market for service sector.

Impact of COVID-19 Pandemic on Growth of Brazil Luxury Drinking Glasses Market for Service Sector

Before the COVID-19 pandemic, the thriving hospitality sector in Brazil, including upscale hotels, fine dining restaurants, and events, fueled the demand for luxury drinking glasses. Luxury establishments sought to enhance the overall experience for their customers with luxury products. Strategies such as collaborations with renowned designers, limited edition releases, and exclusive events were initiated to attract the target audience. However, during the onset of the pandemic, the government of Brazil imposed trade bans and travel restrictions to control the spread of SARS-CoV-2. The hospitality sector, a major user of luxury drinking glasses, faced severe disruption due to lockdowns, travel restrictions, and changing consumer behavior. Mitigation strategies to combat the effects of the pandemic negatively impacted the market growth.

However, the marketplace began recovering from the losses incurred as the country's government announced a relaxation in social restrictions. In 2021, the rising vaccination rates contributed to improvements in the overall conditions in Brazil, which led to conducive environments for businesses and the hospitality sector. Glassware manufacturers were permitted to operate at full capacities, which helped them overcome the demand and supply gap.

The "Brazil Luxury Drinking Glasses Market for Service Sector Analysis and Forecast to 2030" is a specialized and in-depth study of the consumer goods industry, focusing on the Brazil luxury drinking glasses market for service sector trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The Brazil luxury drinking glasses market for service sector is divided on the basis of product type, material type, and end use. Based on product type, the market is segmented into wine glass, whiskey glass, water and juice glass, cocktail glass, and others. Based on material type, the market is divided into glass, ceramic, crystal, titanium, and others. In terms of end use, the market is segmented into hotels, fine dining restaurants, bars, and others.

Wine glasses are available in different sizes and shapes for a variety of wines. Each type of wine needs a specific style of glass for service to enhance the flavors, aromas, and overall experience of wine consumption. Whiskey glasses are available in various designs and different styles. Types of whiskey glasses include whiskey tumblers, highball glasses, tulip glasses, snifters, and neat glasses. Water and fruit juice glasses are made from glass, ceramic, and metals, and they are available in beautiful designs. Highball glass, collins glass, rocks glass, coupe glass, martini glass, copper glass, margarita glass, and hurricane glass are a few types of cocktail glasses. The others category includes coffee glass, vodka glass, rum glass, beer glass, brandy glass, and tequila glass.

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