Global Container Glass Market Gaining Momentum—Projected to Reach Worth USD 84.1 in 2027
Published | 15 May 2021
A study recently
conducted by the strategic consulting and market research firm, Blue Weave Consulting,
revealed that the global
container glass market was worth USD 56.4 billion in 2020 and is
further projected to reach USD 84.1 billion by 2027, at a CAGR of 6.0% during
the forecast period (2021-2027). The
growing demand for environment-friendly packaging material, along with the
availability of attractive packaging solutions are some of the major factors
expected to propel the market growth for global container glass. Additionally, glass
containers are also used by pharmaceutical companies in the packaging of syrups
and suspensions, which in turn is driving the market growth. Also, the excessive demand for sauces and condiments has
increased the need for container glass as a suitable packaging solution. The
emphasis on design and printing to make container glass appealing has also
given the market a significant boost. Container glass is also used in the packaging of
alcoholic beverages such as beer and vodka; the massive consumption of alcohol
across the world directly enhances the growth of the container glass market.
Increasing
demand for environmentally-friendly packaging material driving the market
growth for the container glass market
Our
ecosystem is facing irreparable damage due to plastic as it is a
non-biodegradable waste. Plastic has been around for 60 to 70 years and has
been continually damaging the marine ecosystem.
Glass, on the other hand, can be easily recycled and molded, and it
never loses its integrity. Since glass does not affect the environment,
businesses prefer it to plastic. Moreover, a glass container can be easily
sterilized under high temperatures and are, therefore, used in the packaging of
injectables in pharmaceutical companies. Furthermore, the shift in consumer
preferences for environmentally friendly packaging serves as a significant
growth factor for the global container glass industry.
Increased
use of glass in the food, beverages, and pharmaceutical industry driving the
market growth for the container glass market
Glass
is majorly used in the packaging of food and beverages as compared to other
packaging materials such as plastic, paper because it is a tough, durable,
chemically inert material and does not interact with chemicals present in the
food. Since glass is not decomposed and degraded by microorganisms, it is used
in the packaging of pharmaceuticals, food, and beverages. Glass is also suitable
for the sterilization process and hence highly used in the packaging of food
and beverages. Pharmaceutical products undergo photosensitive degradation which
degrades the quality of the product but by using amber glass bottles in the
packaging of such photosensitive pharmaceutical products, pharmaceutical
companies can prevent the degradation. These are a few factors driving the
growth of the container glass market.
Global
Container Glass Market–By Glass Type
There
are mainly four categories of glasses by type –type-1, type-2, and type-3and
type-4. Type-1 glasses dominate the container glass market segment among these
four types. Type-1 glass has a 10% boric oxide content, 80% silica content, and
a minimal amount of aluminum oxide and sodium oxide. The boric oxide makes it
hydrolytically resistant and chemically non-reactive, hence making it suitable
for the storage of pharmaceutical products like syrups and suspensions. Furthermore,
since the type-1 glass has a low coefficient of expansion and a high thermal
shock property, it can easily withstand temperature changes during
transportation. Because of its chemical inertness, Type-1 is also ideal for
packaging parenteral and non-parenteral medications. These are the reasons why
type-1 glass dominates the global container glass market in this category.
Impact
of COVID-19
Global
glass container market growth is likely to be hindered by the COVID-19 pandemic
as lockdowns, social distancing, and trade restrictions have disturbed the
supply chain market. Due to COVID-19, the production processes of many
companies and factories have been reduced. Numerous companies are operating
with a limited workforce owing to the unavailability of workers and to maintain
social distancing norms. Since these businesses use glass containers for the
packaging of their products, reduced production is inhibiting the
market growth. These factors have combined to lower sales for key players in
the industry, putting a damper on future investment. On the other hand, those
key players who are providing glass to pharmaceutical companies are witnessing
a growth in business by helping pharmaceutical companies increase their
production capacity to combat COVID-19. But the percentage of pharmaceutical
companies is less as compared to the consumer goods market; hence COVID-19 is negatively
impacting the global container glass market.
The
Asia Pacific Leads the Global Container Glass Market
The Asia Pacific dominates the global container glass
market due to the increasing number of food and beverage industries in the
region, which is acting a growth factor for the container glass market. Growing population,
which contributes to higher beverage consumption, and technological advances in
the food and beverage industries are also major factors driving growth in the
Asia Pacific container glass market. Alcohol is also widely consumed in
countries such as India and South Korea, and glass is the primary packaging
material for alcohol.
Competitive Landscape
Some of the key
players in the global container glass market are Hindustan National Glass; Toyo
Glass Co. Ltd, Consol Glass, AGI Glaspac, Saverglass Group, Ardagh Packaging
Group PLC, Owens-Illinois Inc., Verallia, Vidrala SA, Piramal Glass, Dickinson
and Company, Frigoglass, Adelphi Healthcare Packaging, and other prominent
players. The key players have been taking all possible measures to bring new technologies
and developments to the sector. Furthermore, strategic planning is aiding them
in gaining a competitive edge in the market.
Don’t
miss the business opportunity of the global container glass market. Consult our
analysis to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information
about growth potential, upcoming trends, and statistics of the global container
glass market. It also highlights the factors driving forecasts of total market
size. The report promises to provide recent technology trends in the global
container glass market, along with industry insights to help decision-makers
make sound strategic decisions. Furthermore, the report also analyzes the
growth drivers, challenges, and competitive dynamics of the market.
About Us
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