New York, US, May 12, 2022 (GLOBE NEWSWIRE) -- Glass Container Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Glass Container Market Information by Product Type, End-use, and Region - Forecast till 2030”, the market is estimated to grow at a CAGR of 12.5% CAGR to reach USD 78.41 Billion by 2030.
Market Scope:
The major glass-forming ingredients in a glass container are boron trioxide and silica. Soda-lime-silica-based glass, often known as soda-lime glass, is one of the most common types of glass. It is ideally suited to the production of windowpanes, glass containers, and commodity goods in the food and beverage, pharmaceutical, décor, and other end-use industries.
Market Competitive Landscape:
The noteworthy companies in the glass container market are
- Amcor Limited (Australia)
- Frigoglass (Greece)
- Owens-Illinois Inc. (U.S.)
- Consol Glass (Pty) Ltd. (South Africa)
- Central Glass Co., Ltd. (Japan)
- Vitro, S.A.B de C.V. (Mexico)
- VIDRALA (Spain)
- Industries Limited. (India)
- Hindusthan National Glass
- Ardagh Group S.A. (Luxembourg)
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Market USP Covered:
Market Drivers:
Another key element that has boosted the expansion of the glass container market is an improvement in the global health care system. The growth in the average living age of a person globally has boosted the demand for pharmaceutical medicines that require packaging in glass containers, which is another element that boosts the glass container valuation. One of the other major factors driving market expansion is an upsurge in beer consumption has grown. Beer is one of the alcoholic beverages that is packaged in glass bottles. It is packaged in dark-colored glass bottles to protect the contents, which might degrade when exposed to UV radiation. Craft beer manufactured locally by small and major brewers is becoming increasingly popular. As a result of this tendency, glass packaging producers have had to alter their manufacturing and, in some cases, shift their focus to other growth sectors, such as food and beverage.
Market Restraints:
Because glass containers are prone to breakage, they must be handled with care. The cost of transportation rises because the products packaged in them must be transported with care from one location to another. The market's growth is hampered by high competition from replacement packaging such as plastic metal. Plastic packaging solution improvements are posing a threat to the market. This is partly due to the growing use of polymers such as polyethylene terephthalate (PET) as glass bottle alternatives.
COVID 19 Analysis
The COVID-19 epidemic increased the need for industries in the food and beverage industry to focus more on cleanliness and disinfecting, and given the current scenario, consumers are opting for a sustainable and healthy lifestyle. As most of the items in this sector are included in basic services, the packaging sector must adhere to conservative standards. These lines were stopped when the government issued housing assistance orders during the pandemic. Furthermore, the COVID-19 pandemic contributed to an increase in demand for glass milk deliveries. Moreover, many dairies have switched to glass bottle milk packaging to boost sales and brand awareness.
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Market Segmentation
By Product Type
The glass bottle segment has become a sought-after container for liquids like beverages. From the wines to the did, glass bottles are used on a large scale worldwide. The great majority of bottles, jars, and jugs on the shelves are glass or plastic. Consumers notice a quality difference between glass and plastic. Because it is perceived as more expensive, glass provides a premium experience in terms of look, feel, and weight, which is important for premium fruit juices, craft cold brew, and other products that wish to establish a sophisticated image for marketing.
By End-Use
Since glass does not react with many chemicals, it keeps packed items fresh and healthy, making it the greatest choice for the food industry. Because of its qualities like reuse, recycling, and chemical stability, container glass is widely utilized in the food and beverage industry. It is used to keep a variety of foods fresher for longer periods. To store various food and beverage products, glass jars such as containers and wide and narrow neck bottles are utilized increasingly in several industries.
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Regional Insights
The Asia Pacific was the undisputed leader in glass container market size, accounting for over 37.2 percent of the global glass container revenue share. With the rising demand for beverages and packaged foodstuff, these industries are still experiencing huge growth in the glass container market. Furthermore, the region has a high availability of silica, which is a main raw element in glass making. The significant key market trend in Asia-Pacific is container glass in industries such as pharmaceuticals, foods and drinks, and chemical manufacturing. Proliferating demand for packed food items, where container glass is utilized to pack and store various food items for long periods, drives growth in the Asia-Pacific container glass market. Following Asia-Pacific, Europe accounts for 31.9 percent of the glass container share's overall glass container Market Revenue. The growing demand for beer across nations is one of the major factors driving the market's rise in Europe.
Recently, a local Kroger consumer who buys a drink in a glass bottle, hand soap in a plastic bottle, or a stainless-steel container of disinfecting wipes may soon receive one in the previously used packaging. These are just a few examples of products that may be packaged in "circular reuse" packaging. Kroger is collaborating with Loop to increase the sustainability of its private-label brands. Loop recovers and sanitizes reused material for recirculation with new products. In-store branded displays identify goods that fit the circular reuse program. Customers can refill the containers or return the empty containers to store Loop collecting bins.
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