Market Analysis
The global glass packaging market will touch USD 66,000 million at a 3.29% CAGR between 2016- 2022, reveals the latest Market Research Future (MRFR) report. Glass packaging or glass containers are highly preferred to pack chemicals, liquid-based pharmaceutical products, alcoholic and non-alcoholic beverages, and other non-perishable/perishable products.
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Several factors are adding to the global glass packaging market growth. Some of these factors as per the MRFR report include increasing adoption in cosmetics, pharmaceuticals, and food and beverage industries, the growing preference for eco-friendly packaging solutions, increase in shipments of containers for non-alcoholic beverages, spirits, and wine end markets, alluring features of glass packaging such as non-reactive nature, malleability, and zero chemical leaching, changing consumer lifestyle, rapid urbanization, worldwide economic growth, increasing health risks, and growing health and fitness awareness.
On the other hand, the scarcity of raw materials needed for production and fluctuating prices may limit the glass packaging market growth during the forecast period.
COVID-19 Analysis
The on-going crisis had a mixed impact on the glass packaging market. On the one hand, the market faced a couple of problems such as limited workers and shortage of raw materials due to the government-imposed lockdowns and social distancing trends. On the other hand, the increase in alcoholic and non-alcoholic beverage intake during the pandemic and the reopening of bars and restaurants following the lifting of the lockdown had a positive impact on the market growth. Besides, a surge in the demand for glass packaging to pack healthcare products and medical supplies to address the novel coronavirus also had a favorable impact on the market growth. There has been a burgeoning demand for glass vials for their significance in producing and distributing COVID-19 vaccines.
Global Glass Packaging Market – Segments
The report is segmented into three dynamics;
By Product: Standard Glass Quality, Premium Glass Quality, and Super Premium Glass Quality.
By Application: Beverage Packaging, Food Packaging, Personal Care Packaging, Pharmaceuticals Packaging, and others.
By Region: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Glass Packaging Market – Regional Analysis
The Asia Pacific region dominates the global glass packaging market. The region shows some rapid developments in the healthcare and food & beverage industries, which drives the market growth. Besides, the market growth attributes to increased investments in the development of packaging materials and solutions. Vast consumption of glass packaging material across the end-user industries, alongside the increased consumption of alcoholic beverages in the region, positively impacts the market growth. The APAC Glass packaging market is projected to retain its dominance, growing at 3.60% CAGR throughout the estimated period.
North America stands second in the global glass packaging market. The region has witnessed increased investment in research and development and product innovation. Market growth attributes to the rapid growth in the food industry due to impressive urbanization and high dependency on packaged food products in the region. Additionally, the rapidly growing pharmaceutical industry in the region substantiates the size of the regional market. The North American glass packaging market is expected to expand at a substantial CAGR over the forecast period.
The European glass packaging market is growing rapidly. Factors such as the high demand for glass packaging materials and spurring rise in the region's food and beverage industry drive the regional market growth. Moreover, stringent food safety policies in nations like the UK and Germany influence the region's market growth.
Furthermore, a rise in beverages' consumption, alongside the increased growth rates in the pharmaceutical sector, expands the regional market. The Europe glass packaging market is predicted to grow at a considerable CAGR during the assessment period.
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.
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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