NEWARK, Del, Feb. 26, 2024 (GLOBE NEWSWIRE) -- In 2024, global sales for glass bottles and containers are expected to total US$ 65,544.6 million, with forecasts suggesting a climb to US$ 110,017.6 million by 2034, driven by a projected compound annual growth rate (CAGR) of 5.3% over the period. This indicates a notable advancement from the US$ 62,234.5 million revenue recorded in 2023.
Consumers increasingly opt for on-the-go drinks, leading to an upsurge in demand for glass bottles. Glass is preferred by manufacturers and consumers alike due to its transparency and inert properties, which enhance its applications and contribute to the visual appeal of products.
The rise in demand for bottled beverages is a key factor driving the need for glass bottles and containers. Consumers are increasingly concerned about product safety and authenticity, leading manufacturers and brands to embrace glass bottles. The perceived safety of glass, with minimal risks of chemical interactions, aligns with consumers' preferences for a healthier lifestyle.
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The pharmaceutical industry's focus on generic medicines, coupled with the growing trend towards health and wellness, is expected to drive the adoption of glass bottles further. The inert and unreactive properties of glass make it a preferred choice for health and personal care products, ensuring the integrity of contents crucial for cosmetics and pharmaceuticals. The increased emphasis on visual appeal and product transparency draws consumer attention to glass packaging.
“Innovation in shapes and styles has become a captivating avenue for manufacturers and brands. Diverse designs, shapes, and sizes in glass containers align with branding strategies, attracting customers and distinguishing products,” says Ismail Sutaria, Principal consultant at Future Market Insights
Key Takeaways from the Glass Bottle and Container Market
- Glass bottles lead the market and are estimated to gain 3/4th of market share by 2034, advancing at a CAGR of 5.2% over the forecast period.
- Type 1 borosilicate glass is estimated to account for a 46% value share and expand 1.5x times its current market value by the end of 2034.
- Type 3 regular soda lime glass is anticipated to create a significant incremental dollar opportunity worth US$ 14,004.6 million in the upcoming decade.
- Glass bottles and containers are prominently used in beverage packaging, which is expected to reach a valuation of US$ 38,977.5 million by the end of 2034.
- Asia Pacific is anticipated to gain an incremental opportunity of US$ 20,228.4 million by 2034.
- North America is expected to capture 28% of the market share in 2024 and reach a valuation of US$ 25,802.4 million by the end of 2034.
Competitive Landscape
The glass bottles and containers market is dominated by a few leading companies, such as Owens-Illinois Inc. (O-I) and Ardagh Group, which use various strategies to promote growth.
- Owens-Illinois Inc. invests heavily in research and development to create innovative glass packaging solutions that cater to changing consumer preferences and sustainability demands.
- Ardagh Group offers diverse glass packaging options and focuses on expanding its market presence through acquisitions and strategic partnerships. They invest in cutting-edge technologies to improve efficiency and remain competitive.
- Owens-Illinois Inc. and Ardagh Group prioritize sustainability initiatives, such as lightweighting, energy efficiency, and promoting the recyclability of glass.
- By aligning their growth strategies with global sustainability goals, these leading companies are driving growth in the glass bottles and containers sector while addressing environmental concerns and meeting the market's evolving needs.
Key Players:
- Ardagh Packaging Group Plc
- Owens-Illinois Inc.
- Alpla Group
- Verallia Packaging SAS
- Aptar Group
- Vetropack Holding Ltd
- Stolzle Glass Group
- AGI Glasspack Ltd
- Hindustan National Glass & Industries Ltd
- Vitro SAB de CV
- Consol Glass (Pty) Ltd
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Market Segmentations:
By Product:
- Glass Bottle
- Sauce / Syrup Bottle
- French Square Bottle
- Boston Rounds Bottle
- Glass Jug
- Others (Rio rounds, woozy bottles, pill packer etc.)
- Glass Jar
- Mason Jar
- Hexagonal Glass Jar
- Paragon Glass Jar
- Straight Sided Jar
- Others (Facet jar, tempered round jar, etc.)
- Glass Vial
- Food Grade Vial
- Pharma Grade Vial
- Other Glass Bottles & Containers (Syringe, Ampoules, etc.)
By Material:
- Type 1 (Borosilicate Glass)
- Type 2 (Treated Soda Lime Glass)
- Type 3 (Regular Soda Lime Glass)
- Type 4 (General Purpose Soda Lime Glass)
By End Use:
- Cosmetic and Perfumery
- Perfumes
- Colour Cosmetics
- Pharmaceuticals
- Food Packaging
- Generic Food Packaging
- Specialty Food Packaging
- Beverage Packaging
- Alcoholic Beverage
- Non Alcoholic Beverage
- Food Storage
- Candles and Fragrance
- Others (Home & Personal Care, Specialty, and Craft Products)
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Explore Related Reports of Packaging:
- From 2022 to 2032, the Boston round glass bottle market is foreseen to expand with a CAGR of 5.6% to reach US$ 152 Billion.
- The glass bottles market is expected to increase from US$ 40.2 billion in 2023 to US$ 70.2 billion by 2033, at a 5.7% CAGR from 2023 to 2033.
- The global glass liquor bottles market is estimated to create an incremental opportunity of more than US$ 6 Billion by the end of 2032, exhibiting growth at a CAGR of 4% to 5% during the forecast period 2022-2032.
- The returnable glass bottle market is likely to register a CAGR of 3% during the forecast period, and is anticipated to reach a market share of US$ 25 Billion in 2032.
- The container liners market is expected to register positive growth through 2023, with the overall valuation forecast to reach US$ 891 million this year. FMI projects container liners sales to increase at 4.6% CAGR between 2023 and 2033.
- From 2023 to 2033, the container stacking machine industry is poised to flourish at a CAGR of 4.3% to reach a valuation of US$ 3667.28 Million.
- The global container washing system market is projected to be valued at US$ 922.5 Million in 2023 and is anticipated to expand at a CAGR of 4.8%. Owing to the advances in packaging, the market is likely to surpass a valuation of US$ 1474.2 Million by 2033.
- The glass container market is predicted to capture a valuation of US$ 61.5 billion in 2023 and is estimated to rise to US$ 102.5 billion by 2033. The market is anticipated at a CAGR of 5.2% during the forecast period.
- The global bottle carriers market size was valued at around US$ 546 Million in 2021 and is projected to exhibit growth at a CAGR of 4.7% from 2022 to 2032. The market is anticipated to reach a valuation of US$ 895 Million by 2032.
- The overall scope for bottle shippers market, which is projected to grow at a CAGR of 2.5% between 2023 and 2033, totaling around US$ 6.0 billion by 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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