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Glass Packaging Market Statistics 2019-2024: Share Forecasts, Regional Trends & Growth drivers

Author : Rahul Varpe | Published Date : 2019-10-10 

Intensifying beer consumption amongst the emerging nations is likely to propel the glass packaging market development for its extensive use in beer bottle production. Beer consumption rate in India, Romania and Columbia witnessed an annual growth of 6% in 2015. Mexico and Vietnam observed the highest beer consumption rate gains, approximately 6.5% and 7.5% respectively during the same timeframe. Breweries present exclusive glassware for every brand of beer served by them. Contributing to the promotional activities, industry participants tend to engineer the bottles before the beer. These trends of beer consumption hike feature a positive outlook for the industry by 2024.

The ever-growing healthcare industry will be a significant factor behind the glass packaging market development in the near future. In 2016, healthcare industry had observed revenue gains exceeding USD 1.5 trillion and is probable to follow the similar trend during forecast timespan. Rising demand for medicines and pharmaceutical products will boost the glass packaging market due to its chemical inertness towards liquid syrups.

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Glass Packaging Market size is expected to cross USD 65 billion by 2024, according to research conducted by Global Market Insights, Inc.Certain limitations of glass such as transport related difficulties, brittleness and high cost have led to the rising popularity of plastic bottles and metal cans in recent times. Ease of transportation and handling, moldability and other favorable properties of plastics might have a negative impact on the glass packaging market by 2024. Yet, glass contributed to over 60% share in beer packaging industry in the year 2015 with promising gains in future. The factors like tolerance towards corrosive effect of alcohol, heat-tolerance during the pasteurization process, higher viscosity compared to plastics and recyclability will contribute to the product's usage in packaging during timeframe.

Borosilicate products provides better resistance against shock and hydrolysis, which enables its usage in production of cookware, glassware and laboratory equipment. Soda lime segment has been frequently used in food & beverages sector. This segment is likely to occupy a considerable share of glass packaging market through 2024.

Considering the applications, the glass packaging market can be divided into pharmaceuticals, food & beverages, alcoholic beverages, beer and other applications including cosmetic products, personal care products, etc. In 2016, beer segment had contributed to over 20% of overall market and is projected to witness CAGR over 4.5% by 2024. Pharmaceuticals sector poses as another key application segment that, in 2016, contributed over USD 3.5 billion in revenue. The segment is set to grow with a CAGR exceeding 4% during the forecast period on account of the increasing product usage in medicine and pharmaceutical drugs packaging.

 

Geographically, Asia Pacific accounted for more than one-third of the total glass packaging industry. Rising alcohol consumption coupled with advances in pharmaceutical industry will present brighter growth aspects for the regional product market growth by 2024. Growing hospitality & tourism sector in China and India will drive the regional product market in coming years.

Partial Chapter of the Table of Content:

Glass Packaging Market, By Product

  • Borosilicate
  • De-alkalized soda lime
  • Soda lime

Glass Packaging Market, By Application

  • Alcoholic beverages
  • Beer
  • Food & beverages
  • Pharmaceuticals
  • Others

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Key market players Amcor Ltd, Consol, Bormioli Rocco SpA, Heinz-Glas GmbH, Hindusthan National Glass & Industries Ltd, Nihon Yamamura, Gerresheimer AG, Ardagh Group, Saint-Gobain S.A., Koa, Owens-Illinois Inc., Stolzle-Oberglas GmbH, Vidrala S.A., Piramal, and Vitro.

Read More:

Industrial Protective Fabric Market Statistics: 2019-2025 Global Share Report

https://www.marketwatch.com/press-release/industrial-protective-fabric-market-2019-business-growth-trend-and-forecast-2025-2019-10-10

Shape Memory Alloys Market  Statistics 2019-2025: Forecasts By Class, Top Trends & End User

https://www.marketwatch.com/press-release/asia-pacific-shape-memory-alloys-market-will-grow-at-14-cagr-over-2019-2025-2019-10-10

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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