Global Glass Packaging Market
Global Glass Packaging Market Size Set to Reach USD 82.56 Billion by 2029
Published | 29 July 2023
Global glass packaging market flourishing due to a spurring demand from thriving global beverages industry, the introduction of innovative glass packaging enables its utilization in diverse areas including pharmaceuticals, electronics, beauty, and personal care products.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global glass packaging market size at USD 63.45 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global glass packaging market size to expand at a robust CAGR of 4.49% reaching a value of USD 82.56 billion by 2029. The global beverages industry is experiencing significant growth, and this growth is driving the demand for glass packaging. Furthermore, the glass packaging market is expected to witness rapid growth in the pharmaceutical industry during the forecast period. Glass stands out in the alcohol and pharmaceutical sectors due to its versatility and its ability to accommodate a wide range of bottle sizes and shapes. Glass is a highly recyclable material, and the focus on circular economy practices is driving the adoption of glass packaging as it can be recycled and reused multiple times. The emphasis on premiumization has been a key factor driving the preference for glass packaging across diverse beverage categories, including soft drinks. These are the major factors driving the growth of global glass packaging market during the period in analysis.
Opportunity: Innovations in glass material for packaging
As the glass packaging industry continues to innovate, it opens up possibilities for a wider range of product applications beyond the traditional sectors like beverages and food. The introduction of innovative glass packaging enables its utilization in diverse areas such as pharmaceuticals, electronics, beauty, and personal care products. These advancements enhance the functionality of glass packaging, making it more user-friendly and practical for consumers. Moreover, innovation in glass packaging also contributes to its sustainability. Manufacturers are exploring ways to reduce material usage, resulting in lighter and more compact packaging options. Additionally, incorporating recycled materials in the production process further enhances the environmental sustainability of glass packaging.
Impact of COVID-19 on Global Glass Packaging Market
During the Covid-19 pandemic lockdown, non-essential industries, including the glass packaging sector, experienced production halts. The low demand and supply chain disruptions resulted in decreased profits for many players in the packaging industry. Over the past two years, the cost of glass bottles surged significantly due to soaring energy prices and ongoing supply chain challenges. Glass manufacturing facilities require continuous operation, and restarting them after shutdowns took months, which poses a significant risk of manufacturing and supply disruptions. However, as the world gradually emerges from the aftermath of the pandemic, the industry is expected to regain stability and embark on a steady growth trajectory.
Global Glass Packaging Market
Global Glass Packaging Market - By End User
Based on end user, the global glass packaging market is segmented into food & beverages, pharmaceuticals, personal care & cosmetics, and others. The food & beverages segment holds the largest market share. The segment is experiencing significant growth driven by the widespread adoption of glass packaging for alcoholic beverages and the increasing global consumption of alcohol. Its popularity in the beverages industry is further enhanced by the wide range of bottle sizes and shapes available in the retail market. The food industry holds a significant share of the glass packaging market. Glass packaging is widely preferred by numerous food and beverage companies globally due to its ability to withstand thermal shocks, which is crucial for maintaining the quality and integrity of food products.
The global glass packaging market is fragmented, with numerous players serving the market. The key players dominating the global glass packaging market include Amcor Limited, Owens-Illinois, Inc, Saint Gobain S.A., Vitro Packaging, LLC, Hindusthan National Glass & Industries Limited, Gerresheimer AG, Bormioli Rocco SPA, Ardagh Packaging Holdings Limited, Vetropack Holding AG, Vidrala S.A., Consol Specialty Glass (Pty) Limited, Heinz-Glas GmbH, Koa Glass Co. Ltd, Nihon Yamamura Glass Co Ltd, and Piramal Glass Limited. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisition to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Glass Packaging Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Glass Packaging Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Glass Packaging Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Product (Bottles, Jars & Containers, Ampoules, Vials, Others); By End User (Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, Others)
Publish Date: July 2023
The rising consumer demand for packaging that is safe and promotes health and well-being and the growing demand for glass packaging in the healthcare and cosmetic industries are expected to boost the growth of the global glass packaging market during the forecast period between 2023 and 2029.
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