ID: MRFR/PNT/0750-CR | 185 Pages | Published By Snehal Singh on August 2018
The Glass Packaging Market occupies a market value of USD 74.87 billion by the end of 2030. The market projects a CAGR of 5.92% during the market forecast period of 2021-2030.
The glass packaging market is projected to register a CAGR of 5.92% from 2022 to 2030. Growing consumer demand for healthy and safe packaging contributes to the growth of glass packaging in various categories. Advanced technologies make glass packaging more attractive to end users due to embossing, shaping, and applying artistic finishes. The glass packaging market size is expected to reach approximately USD 74.87 Billion by 2030. The market has also been influenced by factors such as an increasing demand for eco-friendly products and an increasing demand from the food and beverage industry. As a result of increasing consumer spending and a change in lifestyles, emerging markets like India and China are experiencing a high demand for beer, soft drinks, and ciders.
Due to the COVID-19 pandemic, the market's supply and demand were immediately and dramatically altered. As bottle law enforcement agencies resume glass collection efforts, the volume of glass collected has increased. However, the sector has not yet recovered from the pre-glass recycling requirements state. There is a major disparity between on-premise use and consumption at home, which has also impacted the collection practices due to the COVID-19 limits. Restaurants and bars, major sources of glassware litter, are still subject to closure and have a smaller capacity due to COVID-19 limits.
A growing eco-consciousness among consumers is driving the glass packaging industry. Glass packaging is a reusable alternative to plastic packaging and is environmentally friendly. Growth in the industry is expected to be driven by increasing disposable incomes and changing consumers' lifestyles. In emerging economies, alcohol consumption is growing as well. As alcoholic beverages become increasingly premiums and consumers consume more innovative alcoholic beverages, such as craft beer, the market is expected to grow in Western markets. In North America, Asia, and the Middle East & Africa, glass packaging is extensively used in the pharmaceutical industry because it keeps products sterile and contamination-free.
The glass packaging industry believes that by helping reduce the amount of food waste, food waste can be reduced in a negative way that reduces greenhouse gas emissions. As a suggestion for preserving food freshness, glass should be highlighted more in the packaging industry. Experts in the glass industry are urging the packaging industry to do the same. A product with an inert nature and a high degree of impermeability are "excellent" when protecting food and drink from contamination. It is often possible to store things in glass packaging for at least 18 months without adding additional chemical coatings.
As container glass is manufactured by annealing, air-polluting compounds such as sulfur dioxide, nitrogen dioxide, and other harmful particles are released. Asthma, chronic bronchitis, mucus secretion, and lung cancer can result from exposure to these harmful compounds at high concentrations. Further, particulates released during the final stages of container glass manufacturing are even more dangerous, as they are smaller in size and can cause various health-related disorders once they reach the respiratory system. These factors are expected to hamper the growth of the market during the forecast period.
There is still a high demand for spirits and alcoholic beverages, as well as glass packaging. The Phoenix Packaging supply chain of handcrafted glass spirit bottles complements the attention to detail bartenders bring to the preparation of inventive cocktails, making it possible to cocktail after work and after hours. As the trusted packaging supplier for JFB Sorel Liqueur, a Brooklyn, New York-based company that values "the profound understanding of the environmental impact of throwaway materials," several companies, including Universal Packaging Inc., Stoelzle Glass Group, Jiangsu Rongtai Glass Products Co., Ruisheng Glass Bottle Wholesale Co., Ltd., and other companies trust Phoenix Packaging. Sprite bottles can be customized according to the client's needs.
The glass packaging market segmentation, based on glass type, is type I, type II, type III, and others. The glass packaging market growth was prominently high under the type I glass packaging category in 2021, as this glass packaging is more often used to make vials. However, type II is anticipated to be the fastest growing in the coming years.
The glass packaging market segmentation, based on raw material, is cullet, soda lime, selenium, cobalt oxide, limestone, dolomite, coloring material, and others. In 2021, soda lime glass packaging accounted for the market's largest market share due to its affordable and easy-to-recycle glass because it can be reformed and remelted numerous times.
Based on application, the market is divided into alcoholic beverages, non-alcoholic beverages, food, pharmaceutical, personal care, beauty products, and others. The alcoholic beverage category dominated the market for glass packaging in 2021. The market share for glass packaging is expected to grow over the coming years as alcohol consumption increases. In the forecast period, glass packaging for alcoholic beverages is expected to grow due to the increasing availability of bottles in various sizes in retail stores and innovations in design and chemical composition that reduce the weight of glass bottles.
By region, the glass packaging market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific accounted for the most extensive market share. Europe will exhibit the highest CAGR during the forecast period.
Asia-Pacific dominated the market share in 2021. India and China are expected to have the fastest growth in the market, driven by the growing food and beverage industry and the growing alcohol consumption in the region, aided by the robustly growing population of drinkers. As a result of these emerging economies, the Western alcohol beverage market is expected to mature. As a result of increasing premiumization in the alcoholic beverages industry, the Asia Pacific glass packaging industry is also expected to grow.
Europe accounted for the second-largest market share in the market in 2021. Glass packaging is being catalyzed by increasing investments in technological advances and a growing focus on making the manufacturing process of glass packaging more sustainable. Market growth in Europe glass packaging is expected to be driven by growing industrialization, particularly in France and Germany. Germany, France, and Italy account for the majority of production in the beverage industry. Still, Eastern European countries like Poland and Turkey will likely grow significantly soon due to increasing beverage consumption and trade opportunities.
The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach with diverse product portfolios. Companies such as Saint-Gobain, Owens-Illinois, Inc., Amcor plc, Ardagh Group S.A., HEINZ-GLAS GmbH & Co. KGaA, BA GLASS GROUP, Bormioli Rocco S.p.A, dominate the market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting research and development. Furthermore, they embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base. For instance, On April 29, 2022, Ardagh Group ("Ardagh") acquired Consol Holdings Proprietary Limited ("Consol"), Africa's largest glass packaging company. In addition to the ZAR 3 billion ($200 million) investment program in two new furnaces, the $1 billion deal also includes Consol's net debt assumption, making it a significant inbound investment.
Saint-Gobain, Owens-Illinois, Inc., Amcor plc, Ardagh Group S.A., HEINZ-GLAS GmbH & Co. KGaA, BA GLASS GROUP, Bormioli Rocco S.p.A, Consol, Gerresheimer AG, Hindusthan National Glass & Industries Limited, Koa Glass Co., Ltd., Nihon Yamamura Glass Co., Ltd., Orora Packaging Australia Pty Ltd, Piramal Enterprises Ltd., Rockwood & Hines Glass Group, Shanghai Vista Packaging Co., Ltd., Sisecam Group, Stölzle-Oberglas Gmbh, Vetropack, Vidrala, Wiegand-Glas GmbH among others.
The objectives of the study are summarized in 5 stages. They are as mentioned below:
To identify and estimate the market size for the glass packaging market report segmented by glass type, jar size, raw material, and application by value (in US dollars). Also, to understand the consumption/ demand created by consumers of glass packaging market forecast between 2022 and 2030
To identify and infer the drivers, restraints, opportunities, and challenges in the glass packaging market growth
To find out the factors which are affecting the glass packaging market size among consumers
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||2030: USD 74.87 Billion|
|CAGR||5.92% CAGR (2022-2030)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Glass Type, Jar Size, Raw Material, and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||Saint-Gobain, Owens-Illinois, Inc., Amcor plc, Ardagh Group S.A., HEINZ-GLAS GmbH & Co. KGaA, BA GLASS GROUP, Bormioli Rocco S.p.A, Consol, Gerresheimer AG|
|Key Market Opportunities||Glass spirits bottles are being produced according to customer specifications|
|Key Market Drivers||Growing eco-consciousness among consumers|
The glass packaging market forecast period is 2022 - 2030
The market is expected to register a CAGR of ~5.92%over the next 10 years, according to glass packaging market research.
Asia-Pacific is expected to register the highest CAGR during 2022 - 2030
Europe held the largest share in 2021
Leading players in the global glass packaging market include Vidrala SA, Ardagh Group SA, and Piramal Glass, among others.
The market size is expected to be USD 74.87 Billion.
Besides promoting the shelf life of the products, these glass bottles prevent the food from getting contaminated and bring up the lucrative opportunity for market growth. The recycling industry is another leading industry during the forecast period. During this time, the European market was marked to be the recycling industry bringing large opportunities to grow.