Glass Packaging Market 2020-2024 Global Research activities, Industry Overview, Capital Investment
Research Reports
Dec 29, 2020
The global glass packaging market witnesses a spurring rise in its revenues. Despite the emergence of various innovative packaging solutions and materials, the glass packaging industry continues to witness an upward trajectory. The market growth predominantly attributes to the eco-friendly glass packagings such as zero chemical leaching, malleability, and non-reactive nature.
Glass packaging solutions are extensively used in rapidly growing food & beverages and pharmaceutical industries globally, which escalates market growth. According to Market Research Future (MRFR), the global glass packaging market is expected to cross the valuation of USD 66,000 MN by 2022, registering an impressive CAGR throughout the anticipated period (2016 – 2022).
Glass packaging solutions keep products safe and preserve their freshness for a longer period. Resultantly, glass has become one of the most preferred packaging materials for alcoholic and non-alcoholic beverages, liquid-based pharmaceutical products, chemicals, and a variety of other perishable and non-perishable products. Demand for glass packaging remains concentrated in industries such as food & beverage, pharmaceuticals, and cosmetics.
Additionally, the changes in consumer’s lifestyles with rapid urbanization continue to drive its adoption. Furthermore, increased efforts towards promoting the adoption of environmentally sustainable products foster the growth of the glass packaging market. Rising awareness of the advantages of glass material as a packaging solution for consumable goods defines the market’s growing landscape.
Also, the changing lifestyle and economical growth drive the glass packaging market growth pervasively. Increasing health risks and growing health & fitness awareness fuels the market for glass packaging. Moreover, rising investments in innovation and growth, coupled with stronger support from governments worldwide, accelerate the market’s growth.
Technological advancements in glass processing techniques and innovative packaging solutions play a significant role in fostering the growth of the Glass packaging market. On the other hand, fluctuating prices and the demand-supply gap in raw materials are major factors projected to impede market growth. Nevertheless, the high demand for eco-friendly packaging solutions would support market growth throughout the review period.
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Global Glass Packaging Market – Segments
The report is segmented into three dynamics;
By Product: Standard Glass Quality, Premium Glass Quality, and Super Premium Glass Quality.
By Application: Beverage Packaging, Food Packaging, Personal Care Packaging, Pharmaceuticals Packaging, and others.
By Region : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Glass Packaging Market – Regional Analysis
The Asia Pacific region dominates the global glass packaging market. The region shows some rapid developments in the healthcare and food & beverage industries, which drives the market growth. Besides, the market growth attributes to increased investments in the development of packaging materials and solutions. Vast consumption of glass packaging material across the end-user industries, alongside the increased consumption of alcoholic beverages in the region, positively impacts the market growth. The APAC Glass packaging market is projected to retain its dominance, growing at 3.60% CAGR throughout the estimated period.
North America stands second in the global glass packaging market. The region has witnessed increased investment in research and development and product innovation. Market growth attributes to the rapid growth in the food industry due to impressive urbanization and high dependency on packaged food products in the region. Additionally, the rapidly growing pharmaceutical industry in the region substantiates the size of the regional market. The North American glass packaging market is expected to expand at a substantial CAGR over the forecast period.
The European glass packaging market is growing rapidly. Factors such as the high demand for glass packaging materials and spurring rise in the region’s food and beverage industry drive the regional market growth. Moreover, stringent food safety policies in nations like the UK and Germany influence the region’s market growth.
Furthermore, a rise in beverages’ consumption, alongside the increased growth rates in the pharmaceutical sector, expands the regional market. The Europe glass packaging market is predicted to grow at a considerable CAGR during the assessment period.
Global Glass Packaging Market– Competitive Analysis
Characterized by the presence of many well-established players, the global glass packaging market appears to be highly competitive. Well established players incorporate mergers & acquisitions, collaboration, expansion, and technology launch to gain a larger competitive share in this market. Many key players in the glass packaging industry are expanding their existing production capacities in response to the increased demand for innovative glass packaging solutions by brands and consumers.
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Major Players:
- Ardagh Group SA
- Owens-Illinois Inc.
- Verallia
- BA Vidro
- Vidrala S.A.
- Gerresheimer AG
- Stölzle Glass Group
- Vetropack Holding Company
- Piramal Glass
- Zignago Vetro S.P.A.
- Wiegand-Glas GmbH
- Verescence
- Vetrobalsamo Spa
- Luigi Bormioli Corporation
- Allied Glass Containers Ltd
- Vitro
- Heinz Glas GmbH & Co. KGAA
- Nihon Yamamura Glass Co.Ltd.
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