Glass Packaging Market Forecast, Developments & Future Scope To 2027
Posted by Mayur Yeole on April 30th, 2021
The most significant players in the global glass packaging market are Ardagh Group S.A, Owens-Illinois Inc., Verallia, Vidrala S.A., Gerresheimer AG, BA Vidro, Vetropack Holding Company, Piramal Glass, Stölzle Glass Group, Wiegand-Glas GmbH, Verescence, Zignago Vetro S.P.A., Luigi Bormioli Corporation, Allied Glass Containers Ltd, Vetrobalsamo Spa, Nihon Yamamura Glass Co., Ltd., Heinz Glas GmbH & Co. KGAA and Vitro.
As per the Market Research Future Reports (MRFR), the global glass packaging market is likely to value more than USD 66,000 million and will expand at a CAGR of 3.29% during the forecast period from 2017 to 2022. Demand for glass packaging industry is concentrated in sectors such as pharmaceuticals, food and beverage and cosmetics. The most important characteristics of glass packaging like zero chemical leaching, malleability, and non-reactive characteristics continue to bring an impact on the glass packaging market 2020. Moreover, it can be recycled and the reuse of glass packaging exhibits its eco-friendly nature. Glass is one of the most demanded materials for the purpose of packaging alcoholic beverages, non-alcoholic beverages, liquid-based pharmaceutical products and several other non-perishable and perishable products. An increase in efforts towards encouraging the adoption of environmentally friendly products has assisted in reviving the glass packaging industry.
The ability to preserve the freshness of a product while maintaining its healthy content of food and beverages are the most important reasons for the expansion of the global market for glass packaging. The market has grown significantly due to the broad usage of glass packaging for alcoholic and non-alcoholic beverage packaging owing to its impermeable specifications. The glass packaging market is estimated to witness a constant expansion during the review period.
The global market for glass packaging is segregated on the basis of product, application, and region.
On the basis of product, the global market for glass packaging can be divided into super-premium glass quality, premium glass quality, and standard glass quality. Among all, the premium glass quality dominates the glass packaging market.
On the basis of application, the global market for glass packaging can be classified into food packaging, beverage packaging, personal care packaging, pharmaceutical packaging, and others. The beverage packaging dominates the glass packaging market is also likely to advance with a robustly expanding CAGR during the forecast period.
As per the Market Research Future Reports (MRFR), the regional analysis of America, Europe, Asia Pacific, Middle East, and Africa.
The APAC region has been reigning the global market for the glass packaging market share since 2017 by acquiring 34.3% market share and is expected to expand at a very fast pace during the review period. The increased consumption of alcoholic beverages encourages the market in the region. Additionally, increased disposable income levels among individuals, lifestyles of consumers, fluctuating preferences also play an important role in expanding the glass packaging market. Japan, China, and India are the most crucial contributors to the market. China is dominating the APAC market. Hence, the region is likely to expand at a CAGR of 3.60% and retains its apex position during the forecast period.
The American region is a lucrative market for glass packaging. The region has witnessed increased investment in research and development and product innovation in terms of packaging. Moreover, the strict food safety policies in nations like the U.S and Canada have observed a rise in the consumption of beverages, and the increased growth rates in the sector of pharmaceutical are some other factors expanding the regional market.
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About the AuthorMayur Yeole
Joined: February 8th, 2021
Articles Posted: 565
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