Pune, India, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The global glass packaging market size is projected to reach USD 81 billion by the end of 2027. The rising demand for glass material across the world will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Glass Packaging Market Size, Share & Industry Analysis, By End-use Industry (Alcoholic beverages, Food, Non-Alcoholic beverages, Pharmaceuticals, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 60.32 billion in 2019 and will exhibit a CAGR of 3.95% during the forecast period, 2019-2027.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
Get a Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/glass-packaging-market-102812
List of companies profiled in the Glass Packaging Market:
- Ardagh Group S.A. (Ireland)
- Anchor Glass Container Corporation (BA Glass B.V.) (U.S.)
- Verallia (U.S.)
- Owens-Illinois Inc. (U.S.)
- TOYO GLASS CO.,LTD. (Japan)
- Heinz Glas GmbH (Germany)
- Vetropack Group (Switzerland)
- AGI Glasspack Ltd. (India)
- Yantai NBC Glass Packaging Co., Ltd. (China)
- Yantai Changyu Glass Co., Ltd. (China)
The rising demand for glass and glass material is consequential to the lesser environmental effects it has. The exceptional properties of this material including rigidity and durability will contribute to the growing demand. The high investment in the research and development of efficient glass material, coupled with the presence of several large scale manufacturers across the world will aid the growth of the overall market in the coming years. The adverse effects of plastic and the strict regulations imposed by governments of several countries towards the use of plastic will lead to a huge adoption of glass as alternative solution to plastics. The product is most widely used in the food and beverage industry for beverage supply and distribution. The increasing consumption of bottled and packaged beverages will aid the growth of the overall market in the foreseeable future.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 3.95% |
| 2027 Value Projection | USD 81.00 Billion |
| Base Year | 2019 |
| Glass Packaging Market Size in 2019 | USD 60.32 Billion |
| Historical Data | 2016-2018 |
| No. of Pages | 170 |
| Segments Covered | Type, End-user and Regional |
| Glass Packaging Market Growth Drivers | Demand for glass packaging is single-handedly driven by the beverage industry |
| Environmental Benefits of Glass Will lead to High Demand |
Inquire Before Buying This Report:
https://www.fortunebusinessinsights.com/enquiry/queries/glass-packaging-market-102812
Increasing Efforts to Maximize Glass Packaging Use Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the growing efforts put in to maximize the use of glass by major companies as well as governing bodies across the world will have a huge impact on the growth of the market. This will also influence the companies operating in the market towards making large investments in the development of efficient products. In March 2020, BG Container Glass announced that it has allocated USD 92.2 million for the acquisition of 3 companies engaged in manufacturing of glass packaging. The company claims that it will look to decrease its dependency on external sources and in-house capabilities. These three firms are associated with labels, lids, and boxes for glass packaging. Through the acquisition of these three companies, BG Container will look to establish a stronghold in the market.
Asia Pacific Accounts for Dominant Share; Huge Consumption of Bottled Beverages will Aid Growth
The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these regions, the market in Asia Pacific is projected to emerge as the dominant region in the coming years. The increasing consumption of bottled beverages in several countries across this region will aid the growth of the regional market. The rising consumption of alcoholic beverages and the use of glass packaging material in the beverages industry in India will contribute to market growth. Furthermore, strict government regulations regarding the use of plastic and plastic bans in several countries will emerge in favor of the growth of the market in this region. As of 2019, the market in Asia Pacific was worth 22.20 billion and this value is projected to increase further in the coming years. The market in North America will also witness considerable growth driven by the presence of several large scale companies in this region.
Industry Developments:
March 2020: BG Container Glass (BGC announced that it has allocated USD 92.22 million for the acquisition of three major companies in the glass packaging chain to decrease its dependence on external sources and increase in-house capabilities.
Get Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/glass-packaging-market-102812
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Global Glass Packaging Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By End-use Industry
- Alcoholic beverages
- Food
- Non-Alcoholic beverages
- Pharmaceuticals
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
TOC Continued...!
Read Related Insights:
Food Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Glass, Metals, Paper & Paperboard, Wood, and Plastics), By Product Type (Rigid, Semi-Rigid, and Flexible) By Application (Fruits & Vegetables, Bakery & Confectionery, Dairy Products, Meat, Poultry & Seafood, Sauces, Dressings and Condiments, and Others), and Regional Forecast, 2021-2028
Cosmetic Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Glass, Paper & Board, Plastic, Metal, and Others), By Application (Skin Care, Hair Care, Makeup, and Nail Care), and Regional Forecast, 2021-2028
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
U.S.:+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
