DUBLIN, March 22, 2023 /PRNewswire/ -- The "Global Glass Packaging Market Size, Segments, Outlook and Revenue Forecast 2022-2028 by Glass Type, Capacity, Application, Geography" report has been added to ResearchAndMarkets.com's offering.
The Global Glass Packaging Market is expected to witness a positive CAGR of ~5% during the forecast period (2022-2028) and cross US$85 Bn by 2028, due to steady consumer demand for safe and healthier packaging.
The steady consumer demand for safe and healthier packaging, acts as one of the major factors driving the growth of the glass packaging market. Furthermore, increasing demand from the pharmaceutical and personal care sector impacts the demand and therefore, boosts the growth of the glass packaging market.
The increase in beer consumption throughout the world is one of the primary reasons driving market expansion. Beer is one of the alcoholic beverages that is packaged in glass bottles. According to a 2022 report published by Packmedia srl, the glass bottle continues to be the most widely used packaging for alcoholic beverages. This directly impacts the growth of the glass packaging market.
In 2020, an independent consumer research survey, commissioned by Friends of Glass and the European Container Glass Federation (FEVE) was carried out across 13 European countries that revealed the changing preference of people to glass packaging as compared to 2018.
According to European Container Glass Federations (FEVE), 162 manufacturing plants are distributed all over Europe, and container glass is an essential contributor to Europe's real economy as it has created job opportunities along the total supply chain.
One of the main challenges for the market is the increased competition from alternative forms of packaging, such as aluminum cans and plastic containers. As these items are lighter in weight than bulky glass, they are gaining popularity among manufacturers and customers. The high transportation costs associated with glass packaging products are the factor challenging the growth of the market.
Glass has a density of approximately 2.6 g/cm3, which means a piece of glass the same size as a piece of plastic is almost three times heavier. If the packaging is shipped over a long distance, glass has a clear disadvantage.
Not only is glass more expensive to ship and handle, but it also costs more to produce, primarily due to the amount of energy and extreme heat required during the production process.
The ongoing Covid-19 led to a significant growth in the demand for glass packaging to be used in several end-use industries such as food and beverage, cosmetics, and pharmaceuticals. key players have also witnessed a surge in demand from consumers for glass packaging.
The Covid-19 pandemic has positively impacted the market for glass packaging. The industry is witnessing increased demand from the food & beverage and pharmaceutical sectors, as the pandemic has led to a greater demand for medicine bottles, food jars, and beverage bottles.
Moreover, during the pandemic, consumers recognized the sustainable benefits of glass packaging. In a survey of over 10,000 consumers from 10 countries by industry experts, glass and paper-based cartons were seen as the most sustainable, and multi-substrate packaging was viewed as the least sustainable.
Scope of the Report
The Glass Packaging Market is segmented by Glass Type, Capacity, Packaging Type, Application, and Geography. In addition, the report also covers the market size for each of the five regions' Glass Packaging Market. The revenue used to size and forecast the market for each segment is USD billion.
By Glass Type
By Packaging Type
By Application/End User Segment
Key Trends by Market Segment
By Glass Type: The Type 1 segment is estimated to hold the largest market share of the Global Glass Packaging Market in 2021. The growth of this segment can be attributed to the inherent characteristics of Type 1 glass, making it ideal to be used as pharmaceutical glass packaging
Type 1 is the borosilicate glass, comprising 80% silica, and 10% boric oxide. The chemical materials used in this type of glass have good chemical resistance
Type 1 glass containers are widely used for pharmaceuticals as the properties exhibited by the materials used do not allow the container to react with any substance or solution kept inside it.
Since 2020, the demand for glass-based vials is witnessing a spike owing to the increased COVID-19 vaccine production by companies.
By Capacity: The 501-1000ml capacity segment is estimated to hold the largest market share of the Global Glass Packaging Market in 2021. The reason behind the largest share of this segment is that majority of the alcoholic as well as non-alcoholic beverages are packed in the 501-1000ml capacity bottles.
501-1000 ml glass bottles are multi-functional and are used in diverse end-use applications such as packing beer, wine, milk, water, juices, and many others.
These bottles are used on a large scale in the healthcare and food and beverage industry, as the recycling rate of glass bottles is very high as compared to other packaging material types.
For Instance, according to a data on plastic bottles recycling in the year , The Container Recycling Institute found that plastic bottles are recycled at a rate of 29%. In comparison to this, glass has a recycling rate of 37%.
According to the 2022 Silicon Valley Bank State of the Wine Industry report, for the period of September 2020 through September 2021, approximately 55% of the wine was sold in 750 mL bottles.
By Application/End User Segment: The Food and Beverage segment is estimated to hold the largest market share of the Global Glass Packaging Market in 2021.
Glass packaging is used for a wide range of products such as bottled water, beer, coffee, soft drinks, dairy products, energy drinks, juice, sports drinks, tea, and wine & spirits.
The rising premiumization of alcoholic beverages and the growing consumption of innovative alcoholic beverages like craft beer is projected to aid the market growth.
By Geography: Asia Pacificaccounts for the largest share among all regions within the total Glass Packaging market.
Asia-Pacific dominates the glass packaging market due to the increasing use of glass in various end-use industries including food and beverages, pharmaceuticals, and alcoholic beverages. The high availability of raw materials including silica and presence of a huge consumer base in countries is responsible for the growing demand.
The increasing consumption of alcoholic beverages is driving market growth in the region, owing to various investments and changing trends which in turn can stimulate the demand for glass bottles and containers in the region.
For more information about this report visit https://www.researchandmarkets.com/r/cc9hkd
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