Glass Packaging Market size is expected to grow USD 89.2 Bn by 2030

Description

According to the Market Statsville Group (MSG), the global glass packaging market size is expected to grow from USD 64.3 billion in 2021 to USD 89.2 billion by 2030 at a CAGR of 3.7% from 2022 to 2030. Glass is a prominent packaging material among consumers who are concerned about their health and the environment. It is made from all-natural, eco-sustainable raw materials. Moreover, it preserves the taste or flavor of the product as well as the integrity or healthiness of food and beverages. Universally, glass packaging is considered one of the most reliable packaging in terms of taste, health, and environmental safety. This can ensure its continued use worldwide, across a wide range of end user industries, despite the heavy competition from plastic packaging.

Glass packaging is rising in various categories due to the rising consumer demand for safer and healthier packaging. In addition, new technologies for embossing, shaping, and adding artistic finishes to glass are making it more appealing to end-users. Furthermore, increasing demand for eco-friendly products and rising demand from the food and beverage market boost the market’s growth. Lightweight glass has been significant innovation in recent times, providing the same resistance as older glass materials while being more stable, reducing the volume of raw materials used and CO2 emitted.

COVID-19 Impact on the Glass Packaging Market

During the COVID-19 pandemic, most countries considered glass packaging is an essential industry. The COVID-19 pandemic has increased the demand for medicine bottles, food jars, and beverage bottles, which has resulted in increased demand for glass packaging from the F&B and pharmaceutical sectors. Moreover, during the pandemic, consumers recognized the long-term benefits of glass packaging. They can also reuse these packaging for personal use, thereby gaining the market’s growth over the forecast period.

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Scope of the Global Glass Packaging Market

The study categorizes the Glass Packaging Market based on product type, composition and end-use industries at regional and global levels.

By End-Use Industries Outlook (Sales, USD Billion, 2017-2030)

• Food
• Beverage
• Personal Care
• Healthcare
• Household care
• Others

By Product Type Outlook (Sales, USD Billion, 2017-2030)

• Sand
• Sodium Carbonate (Soda Ash)
• Calcium Carbonate (Limestone)
• Cullet

By Composition Outlook (Sales, USD Billion, 2017-2030)

• Iron Pyrite
• Iron Oxide
• Cobalt Oxide
• Selenium

By Region Outlook (Sales, USD Billion, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • the Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The Beverage Industry segment is projected to account for the largest market share, by End-Use Industry

Based on End-Use Industry, the global glass packaging market is divided into food, beverage, personal care, healthcare, household care, and others. Premiumization trends have impacted the choice of glass packaging for various beverage categories, including soft drinks. Soft drinks account for a large portion of the market studied, owing to their worldwide popularity. Soft drinks come in a wide range of flavors and formats, so there's something for every drinking occasion that augments segmental growth.

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The glass packaging market in alcoholic beverages is being vigorously competed with the metal packaging segment in the form of cans. However, due to the demand for premium products, it is expected to maintain its share during the forecast period. Further, the growth is expected across various beverage products, including juices, coffee, tea, soups, non-dairy beverages, and others.

Beverage companies such as PepsiCo and Coke are attempting to reduce their use of plastic packaging. For example, PepsiCo intends to avoid using 67 billion plastic bottles by 2025, with glass bottles serving as an alternative.

The global dairy industry is going transition from plastic to glass bottles. Consumer demand for environmentally friendly milk is driving this trend. In their efforts to help the environment, dairy companies such as Milk & More and Parker Dairies have seen a significant increase in demand for glass bottles, as consumers are willing to pay a little more for the sustainable service rather than the plastic.

Asia Pacific accounts for the highest CAGR during the forecast period

Asia Pacific is projected to gain the largest CAGR during 2022-2030, owing to the growing population along with the huge consumption of alcohol in the region. The Asia Pacific beer packaging industry is primarily driven by the growing popularity of beer among the younger generation, changing cultural trends, urbanization, and many more. Changing trends are expected to continue in this region due to various investments and the increasing diffusion of beer in different regions, which can stimulate the glass bottles and glass packaging market.

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Key Market Players in the Global Glass Packaging Market

• Ardagh Group S.A.
• Couronne Co., Inc.
• Nihon Yamamura Glass Co. Ltd.
• Koa Glass Co., Ltd.
• PGP Glass Private Limited
• Amcor Ltd
• Gerresheimer
• Hindustan National Glass & Industries Ltd
• Owens Illinois Inc
• Piramal Glass Limited
• Saint-Gobain
• Heinz-Glas
• Wiegand-Glas
• Vidrala SA
• Vitro Packaging
• Bormioli Rocco Spa
• AB InBev

Article source: https://article-realm.com/article/Finance/22800-Glass-Packaging-Market-size-is-expected-to-grow-USD-89-2-Bn-by-2030.html