The global glass packaging market witnesses a spurring rise in its revenues. Despite the emergence of various innovative packaging solutions and materials, the glass packaging industry continues to witness an upward trajectory. The market growth predominantly attributes to the eco-friendly glass packagings such as zero chemical leaching, malleability, and non-reactive nature.
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Glass packaging solutions are extensively used in rapidly growing food & beverages and pharmaceutical industries globally, which escalates market growth. According to Market Research Future (MRFR), the global glass packaging market is expected to cross the valuation of USD 66,000 MN by 2022, registering an impressive CAGR throughout the anticipated period (2016 – 2022).
Glass packaging solutions keep products safe and preserve their freshness for a longer period. Resultantly, glass has become one of the most preferred packaging materials for alcoholic and non-alcoholic beverages, liquid-based pharmaceutical products, chemicals, and a variety of other perishable and non-perishable products. Demand for glass packaging remains concentrated in industries such as food & beverage, pharmaceuticals, and cosmetics.
Additionally, the changes in consumer's lifestyles with rapid urbanization continue to drive its adoption. Furthermore, increased efforts towards promoting the adoption of environmentally sustainable products foster the growth of the glass packaging market. Rising awareness of the advantages of glass material as a packaging solution for consumable goods defines the market's growing landscape.
Also, the changing lifestyle and economical growth drive the glass packaging market growth pervasively. Increasing health risks and growing health & fitness awareness fuels the market for glass packaging. Moreover, rising investments in innovation and growth, coupled with stronger support from governments worldwide, accelerate the market's growth.
Technological advancements in glass processing techniques and innovative packaging solutions play a significant role in fostering the growth of the Glass packaging market. On the other hand, fluctuating prices and the demand-supply gap in raw materials are major factors projected to impede market growth. Nevertheless, the high demand for eco-friendly packaging solutions would support market growth throughout the review period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global glass packaging market based on application and product.
By product, the glass packaging market is segmented into standard glass quality, super-premium glass quality, and premium glass quality. Of these, the premium glass quality segment will lead the market over the forecast period.
By application, the glass packaging market bifurcated into pharmaceutical packaging, personal care packaging, food and beverage packaging, and others. Of these, the food and beverage packaging segment will dominate the market over the forecast period.
Regional Analysis
By region, the global glass packaging market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the APAC region will rule the market over the forecast period. The increased consumption of alcoholic beverages, consumer’s increased disposable income, and changing lifestyles of consumers, are adding to the global glass packaging market growth in the region. China has the utmost market share, followed by Japan and India.
In Europe, the global glass packaging market is predicted to hold the second-largest share over the forecast period, followed by North America. Increased investments in R&D, innovations in packaging, strict food safety policies in the US and Canada, and increasing adoption in the pharmaceutical sector are adding to the glass packaging market growth in North America.
Global Glass Packaging Market– Competitive Analysis
Characterized by the presence of many well-established players, the global glass packaging market appears to be highly competitive. Well established players incorporate mergers & acquisitions, collaboration, expansion, and technology launch to gain a larger competitive share in this market. Many key players in the glass packaging industry are expanding their existing production capacities in response to the increased demand for innovative glass packaging solutions by brands and consumers.
Major Players:
Players leading the global glass packaging market include Ardagh Group SA, Owens-Illinois Inc., Verallia, BA Vidro, Vidrala S.A., Gerresheimer AG, Stölzle Glass Group, Vetropack Holding Company, Piramal Glass, Zignago Vetro S.P.A., Wiegand-Glas GmbH, Verescence, Vetrobalsamo Spa, Luigi Bormioli Corporation, Allied Glass Containers Ltd, Vitro, Heinz Glas GmbH & Co. KGAA, and Nihon Yamamura Glass Co., Ltd., among others.
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Industry/ Innovation/ Related News:
November 12, 2020 ---- Blackstone Group Inc. (the US), a leading private equity alternative investment management firm, announced its plans to buy Piramal Glass, a unit of Indian conglomerate Piramal Enterprises Ltd. Piramal Glass makes glass packaging and has factories in the US, India, and Sri Lanka with a total capacity of 1,475 tons per day.
October 22, 2020 ---- Owens-Illinois Inc. (O-I Glass – the US), a leading glass container manufacturing company, announced signing a packaging collaboration agreement with a German packaging and bottling machine manufacturer - Krones AG. The collaboration agreement would enable the two companies to create solutions for the glass packaging market, combining O-I's specialized knowledge of glass with Krones' competence in manufacturing machines and filling lines for the food and beverage industries.
Focus areas for the partnership include improvements in glass filling and packaging line speed & efficiency, enhanced agility & flexibility of responding to market trends, development of innovative & sustainable glass systems, and digital solutions such as direct-to-glass digital printing technology.
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