Dublin, June 07, 2023 (GLOBE NEWSWIRE) -- The "Spirit Glass Packaging Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Capacity, Color of Glass, and Application" report has been added to ResearchAndMarkets.com's offering.
The spirit glass packaging market size was valued at US$ 35,258.06 million in 2022 and is expected to reach US$ 47,357.29 million by 2028; it is estimated to register a CAGR of 5.0% from 2022 to 2028.
Spirit glass packaging is a type of packaging that is specifically designed to hold and transport spirits such as whiskey, rum, gin, beer, and vodka. Glass is a popular material for spirit packaging due to its ability to preserve the taste and aroma of the liquid, its ability to be recycled, and its durability.
There are various types of spirit glass packaging, including bottles, jars, and decanters. Glass bottles are the most common type of packaging for spirits, and they come in various shapes and sizes. Some bottles are designed with special features, such as cork or screw cap, to keep the liquid fresh and prevent leaks.
Moreover, the market growth is fueled by rising consumer preference for glass packaging. The higher utilization rate of glass packaging for applications such as whiskey, rum, gin, beer, and vodka has broadened the scope of spirit glass packaging. The product innovation of different types of spirits such as flavored liquors and development of bottled blended spirits are creating a demand for spirit glass packaging. Glass packaging design and type positively influences brand image, product differentiation, and product acceptability & preference.
Based on applications, the spirit glass packaging market is segmented into whiskey, vodka, rum, wine, beer, and others. The beer segment registered a larger share of the spirit glass packaging market in 2022. Beer comes is available in glass bottles of different capacities such as 375 ml, 500 ml, 650 ml, 750 ml, and 940 ml.
Manufacturers of spirit glass packaging offer beer packaging Beer comes in a wide range of bottle shapes such as the long neck, stubbies, growlers, and many othersetc.
The long neck shape is the most popular bottle shape. Glass packaging keeps beer fresher for a longer period of time. Beer bottles are commonly made with brown or green glass. Also, clear glass packaging is used For in a few some beers such as Corona, clear glass packaging is used. Brewers often apply UV-protected coats to glass to preserve the taste of beer. However, the increasing usagee of metal cans for beer packaging may might hamper the market growth for spirit glass packaging.
In 2022, Asia Pacific held the largest revenue share of the global spirit glass packaging market. Various advantages of using spirit glass packaging over other alternatives are driving the spirit glass packaging market growth in the region.
Moreover, the alcohol industry in Japan witnessed a decline in production. Hence, the National Tax Agency (NTA), the Japanese government, launched "The Sake Viva!"-a nationwide campaign in September 2020, and asked people aged between 20 and 39 to develop ideas to help revitalize the popularity of alcoholic drinks, make drinking more attractive, thereby boosting the industry. These government initiatives have provided significant opportunities for alcoholic beverage manufacturers to expand their products to fulfill the demand. Hence, the growing alcohol industry is likely to increase the demand for spirit glass packaging across the country.
Moreover, a rise in disposable income coupled with rapid urbanization; improving standard of living; and growing social acceptance of alcohol consumption, especially in China, Japan, and India, are driving the demand for alcoholic beverages.
Therefore, all the factors mentioned above are fueling the growth of the spirit glass packaging market in Asia Pacific.the market growth in Japan, India, China, Australia, South Korea, Singapore, Taiwan, and Indonesia is attributed to growing alcohol consumption among the population; the shift in changing preferences from standard to premium beers, whisky, vodka, wines, and other spirits; increasing number of celebrations with alcoholic beverages; and unusual product innovation by the spirits manufacturers across the region.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 160 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 35258.06 Million |
| Forecasted Market Value by 2028 | 47357.29 Million |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Surge in Consumer Preference for Glass Packaging
- Growth of HORECA Sector
Restraints
- Increasing Awareness Regarding Adverse Effects of Spirit Consumption
Opportunities
- Rising Demand for Innovative and Custom Glass Packaging
Future Trends
- Adoption of Recycled Glass Packaging
Companies Mentioned
- O-I Glass Inc
- Toyo Glass Co Ltd
- Ardagh Group Sa
- Verallia Sa
- Vidrala Sa
- Gerresheimer AG
- Nihon Yamamura Glass Co Ltd
- Vitro Sab De Cv
- Ba Glass Bv
- Heinz-Glas GmbH & Co Kgaa
For more information about this report visit https://www.researchandmarkets.com/r/z9w29l
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