Market Analysis
The Global Glass Packaging Market will touch USD 66,000 million at a 3.29% CAGR between 2016- 2022, reveals the latest Market Research Future (MRFR) report. Glass packaging or glass containers are highly preferred to pack chemicals, liquid-based pharmaceutical products, alcoholic and non-alcoholic beverages, and other non-perishable/perishable products.
Several factors are adding to the global glass packaging market growth. Some of these factors as per the MRFR report include increasing adoption in cosmetics, pharmaceuticals, and food and beverage industries, the growing preference for eco-friendly packaging solutions, increase in shipments of containers for non-alcoholic beverages, spirits, and wine end markets, alluring features of glass packaging such as non-reactive nature, malleability, and zero chemical leaching, changing consumer lifestyle, rapid urbanization, worldwide economic growth, increasing health risks, and growing health and fitness awareness.
On the other hand, the scarcity of raw materials needed for production and fluctuating prices may limit the glass packaging market growth during the forecast period.
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COVID-19 Analysis
The on-going crisis had a mixed impact on the glass packaging market. On the one hand, the market faced a couple of problems such as limited workers and shortage of raw materials due to the government-imposed lockdowns and social distancing trends. On the other hand, the increase in alcoholic and non-alcoholic beverage intake during the pandemic and the reopening of bars and restaurants following the lifting of the lockdown had a positive impact on the market growth. Besides, a surge in the demand for glass packaging to pack healthcare products and medical supplies to address the novel coronavirus also had a favorable impact on the market growth. There has been a burgeoning demand for glass vials for their significance in producing and distributing COVID-19 vaccines.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global glass packaging market based on application and product.
By product, the glass packaging market is segmented into standard glass quality, super-premium glass quality, and premium glass quality. Of these, the premium glass quality segment will lead the market over the forecast period.
By application, the glass packaging market bifurcated into pharmaceutical packaging, personal care packaging, food and beverage packaging, and others. Of these, the food and beverage packaging segment will dominate the market over the forecast period.
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.
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Key Players
Top industry players profiled in the global glass packaging market report include Vitro, Heinz Glas GmbH & Co. KGAA, Nihon Yamamura Glass Co., Ltd., Vetrobalsamo Spa, Allied Glass Containers Ltd, Luigi Bormioli Corporation, Zignago Vetro S.P.A., Verescence, Wiegand-Glas GmbH, Stölzle Glass Group, Piramal Glass, Vetropack Holding Company, BA Vidro, Gerresheimer AG, Vidrala S.A., Verallia, Owens-Illinois Inc., and Ardagh Group S.A.
Industry Updates
February 2021- Leading glass packaging provider Stoelzle Glass Group has opened its fifth production line in its plant in France.
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Rising alcohol consuming population throughout the year is likely to be the key driver for the Asia Pacific glass packaging market in the forecast period.
Glass as packaging material provides chemical inertness and stability, that which leads to insignificant chemical leeching into reusability, sterility and glass.
Though the plastics use may hamper the product growth, the consumer preference for glass packaging is increasing due to its use results in preservation of taste, quality and flavor of the contents.
Additionally, transparency of glass helps consumers to view the stored contents.Request for a sample of this report @ https://www.graphicalresearch.com/request/1217/sampleAccording to the Graphical Research new growth forecast report titled Asia Pacific Glass Packaging Market By Application (Alcoholic Beverages, Beer, Food & Beverages, Pharmaceuticals, Others), By Product (Borosilicate, De-alkalized Soda Lime, Soda Lime), Industry Analysis Report, Regional Outlook (China, India, Japan, Australia, Indonesia, Malaysia) Estimated to surpass USD 25 billion by 2024.The product segments in the Asia Pacific glass packaging market, borosilicate glass, de-alkalized soda lime glass and soda lime glass.
Among the product segment, soda lime glass is likely to occupy a noteworthy share in the industry.
The alcohol beverages mainly includes, spirits, wines etc.
New York, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Glass Packaging Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Glass Packaging Market Research Report, Product, Application and Region - Forecast till 2028” the market is projected to be worth USD 74.87 Billion by 2028, registering a CAGR of 5.92% during the forecast period (2021 - 2028), The market was valued at USD 53.37 billion in 2020.List of the Key Companies Profiled in the Glass Packaging Industry Research Report are:Owens-Illinois Inc.Vetropack Holding CompanyArdagh Group S.AVeralliaVidrala S.A.BA VidroGerresheimer AGStölzle Glass GroupPiramal GlassZignago Vetro S.P.A.VerescenceLuigi Bormioli CorporationVetrobalsamo SpaWiegand-Glas GmbHAllied Glass Containers LtdNihon Yamamura Glass Co. Ltd.VitroHeinz Glas GmbH & Co. KGAA.
Furthermore, the benefits of recyclability and reuse of glass packaging fit well with the concept of using packaging materials that are not only efficient but also environmentally friendly.
Increased attempts to promote the use of environmentally sustainable products have also aided in the revival of glass packaging.In the alcoholic beverage business, the market for glass packaging is experiencing significant competition from the metal packaging segment in the form of cans.
The expansion is likely to be seen across a variety of beverage categories, including juices, coffee, tea, soups, non-dairy beverages, and others.
Currently, approximately 70% of natural mineral water bottles are manufactured of plastic.
Taking environmental factors into account, the range of bottled-water packaging material is expanding.Market SegmentationThe global glass packaging industry has been segmented into product and application.By product, the global glass packaging market has been segmented into standard glass quality, premium glass quality, and super premium glass quality.By application, the global glass packaging market has been segmented into beverage packaging, food packaging, personal care packaging, and others.Competitive LandscapeDue to the global presence of large competitors, the global glass packaging industry is extremely competitive.
The Glass Packaging Market Research Report Forecast is a valuable source of insightful data for business strategists.
It provides the industry overview with recent trends, size, share, growth analysis, historical, futuristic data, revenue, demand and strategic development.The broad glass packaging market has been sub-grouped into product and application.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
This detail will lead to a focused approach leading to identification of better opportunities.Request a FREE Sample Copy of Glass Packaging Market Report with Full TOC At: https://www.valuemarketresearch.com/contact/glass-packaging-market/download-sampleBy ProductBorosilicateDe-alkalized Soda LimeSoda LimeBy ApplicationAlcoholic BeveragesBeerFood & BeveragesPharmaceuticalsOthersBrowse Full Global Glass Packaging Market Research Report with TOC At: https://www.valuemarketresearch.com/report/glass-packaging-marketThe report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the glass packaging market include Ardagh Group, Gerresheimer AG, Owens-Illinois Inc, Saint-Gobain, Vetropack Holding AG, and Vidrala S.A. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for glass packaging in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
