Pune, India, June, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Glass Packaging Research Report.
Glass packaging is the use of glass for enclosing products for stocking, supply, sale, and use. The global glass packaging market is anticipated to expand at a CAGR of 5.92% during the forecast period between 2022 to 2030.
Growing Food & Beverages and Pharmaceutical Sector To Drive The Fastest Market Growth
The explosive growth of the food & beverages sector led by the alcoholic beverages and beer industry is expected to propel the market growth. Glass can be sterilized and can withstand high temperature making it ideal to package pharmaceutical products. It allows for transparency, and high-quality borosilicate glass does not leach as compared to plastics. Elegance is another property of glass not shared by other packaging materials.
Ideal Properties Of Glass And The Growing Demand For Sanitized Packaging Is Expected To Drive Faster Market Adoption
Glass is a perfect packaging material as it is non-reactive, inert, recyclable, and reusable making it suitable for packaging beverages, and pharmaceutical products. Glass possess attractive properties such as chemical inertness, sterility, waterproof, making it ideal for packaging a wide variety perishable and non-perishable products. The growing demand for non-toxic, healthy, packaging is driving the glass packaging market.
High Cost, Fragility, And Weight Of Glass Packaging Hampers The Market Growth
The glass is heavy, and fragile requiring care during transport. Its high weight reduces transportation efficiency and leads to high transport and warehousing costs.
Segmentation: To gain a 360-degree view of the global glass packaging market, the report is segregated based on application, product, and region.
Based on the products, the market is segregated into bottles, jars, and vials. The bottles segment accounts for the most significant market share owing to its extensive use.
Based on the application segment, the market is segregated into alcoholic beverage packaging, food packaging, non-alcoholic beverage packaging, and pharmaceutical packaging. Alcoholic beverage packaging accounted for the most significant market share in 2022 which is projected to be the fastest-growing segment.
Based on regions, the market is segregated into North America, Europe, Asia Pacific, Middle East and Africa.
Asia Pacific accounts for the highest market share in 2016, which is projected to expand at the fastest CAGR because of the presence of the raw material, low labor costs, and extensive manufacturing capacity. China, India, Japan, and Australia are the prominent markets of the Asia Pacific region. The phenomenal growth of the food & beverage industry and pharmaceutical and chemical industries is the prime driver of the Asia Pacific glass packaging market.
North America accounts for the second largest market share, which is expected to be dominated by the U.S. due to large consumption of beverages. The highly advanced technology used by in the U.S. and Canada to recycle the glass products is aiding the glass packaging manufactures too.
Europe is dominated by Germany, France, and the U.K. The large alcohol market industry of Europe is aiding the market growth. The demand for high-quality glass by the wine industry of Europe is driving the market value.
The Middle East and Africa market are projected to be dominated by Gulf economies of Saudi Arabia, UAE, Israel, Kuwait, and Qatar.
The prominent players operating in the global glass packaging market are Owens-Illinois Inc. (U.S.), Saint-Gobain S.A. (France), Ardagh Group S.A. (Luxembourg), Gerresheimer AG (Germany), Vetropack Holding AG (Switzerland), Amcor Limited (Australia), Nihon Yamamura Glass Co. Ltd. (Japan), Tamron Co., Ltd. (Japan), Piramal Glass (India), Hindustan National Glass & Industries Ltd. (India), Stölzle Glasgruppe GmbH (Austria), Vidrala SA (Spain), Wiegand-Glas GmbH (Germany), O.Berk Company LLC (U.S.) and Shandong Pharmaceutical Glass Co., Ltd. (China) and others.
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