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Container Glass Global Market Size, Share Report, Growth Prospects, Developments Plans, Future Insights and Trends Analysis Till 2033
Container Glass Global Market
The Business Research Company offers in-depth market insights through Container Glass Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The container glass market size has grown strongly in recent years. It will grow from $40.28 billion in 2023 to $42.79 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to growing demand for glass packaging, expansion of the pharmaceutical industry , adoption of glass packaging for cosmetics and personal care products, stringent regulations promoting sustainable and recyclable packaging, increase in global trade and shipping.
The container glass market size is expected to see strong growth in the next few years. It will grow to $53.34 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to surge in demand for sustainable and eco-friendly packaging solutions, growth in the e-commerce sector, increasing preference for glass in premium and luxury product packaging, adoption of lightweight and innovative glass manufacturing technologies, rise in the use of glass in the pharmaceutical industry . Major trends in the forecast period include development of smart glass packaging with rfid and qr code technologies, customization of glass packaging for brand differentiation and consumer appeal, use of recycled glass in container manufacturing to promote circular economy, integration of augmented reality (ar) in glass packaging for interactive consumer experiences, collaboration between glass manufacturers and technology companies for innovative packaging solutions.
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Market Segmentation:
The container glass market covered in this report is segmented -
1) By Glass Type: Borosilicate-Based, Soda-Lime-Silica-Based
2) By Forming Method: Blow And Blow, Press And Blow, Narrow Neck Press And Blow
3) By End User: Food And Beverages, Cosmetics And Personal Care, Pharmaceuticals, Chemical, Other End-Users
Major Driver - Increased Demand For Fast-Moving Consumer Goods And Alcoholic Beverages Drives Growth In The Container Glass Market
The increasing demand for fast-moving consumer goods (FMCG) and alcoholic beverages is expected to propel the growth of the container glass market. The demand for fast-moving consumer goods (FMCG) and alcoholic beverages is increasing due to reasons such as growing awareness, easier access, changing lifestyles, rising income levels, and others. This increase in demand will drive the demand for container glass as this is an effective and safer packaging option for these products. FMCG goods and alcoholic beverages are non-durable products that require packaging such as container glass that can protect physically from damage caused by exposure to the sun, dust, temperature changes and contaminants. Container glass also protects against loss of nutritional value such as denaturing of proteins and oxidation of fats due to their excellent properties such as neutral reaction. For instance, in October 2023, according to the India Brand Equity Foundation (IBEF), FMCG sales in the country are predicted to increase by 7-9% in terms of revenue in 2022-23. The volume growth in India's fast-moving consumer goods (FMCG) industry was 7.5% in the April-June 2023 quarter, the highest in the previous eight quarters, driven by a recovery in rural India and faster growth in contemporary trade. Thus, the increasing demand for fast-moving consumer goods (FMCG) and alcoholic beverages will drive the growth of the container glass market.
Competitive Landscape:
Major companies operating in the container glass market report are Ardagh Group SA, Amcor PLC, Consol Glass Ltd, Owens-Illinois Inc, Saverglass Group, Amcor Limited, FrigoGlass, Vidrala SA, Central Glass Co, Vitro, Vidrala, Hindusthan National Glass & Industries Ltd, Gerresheimer AG, Verallia, Vetropack Group, AGI Glasspack Ltd, Bormioli Rocco, Stoelzle Glass Group, Piramal Glass Private Limited, HEINZ-GLAS GmbH & Co, Koa Glass Co Ltd, Nihon Yamamura Glass Co Ltd, Saint-Gobain, O-I Glass Inc, AGC Inc, Fuyao Glass Industry Group Co Ltd, Guardian Industries, PGP Glass Limited, Toyo Seikan Group Holdings Ltd., Zwiesel Glas Group
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Top Trend - Innovative Products Embraces Container Glass Market Growth
Product innovation is a key trend gaining popularity in the container glass market. Innovations such as safety-coated and antibacterial food storage glass containers are taking place in the market to provide a sustainable and safe alternative to ordinary glass containers. Safety coated glass containers with plastic coating are great for handling flammable liquids as they are easier to hold and less probably to break. Antibacterial food storage glass containers use a nanotechnology-based anti-microbial compound called Germ Guard, which prevents and eliminates the formation of dangerous bacteria, fungi, and molds. Key players are innovating these containers to offer unique benefits and strengthen their market position. For instance, in August 2023, Revino Inc, a US-based provider of revived glass bottles, launched end-to-end refillable glass bottle reuse system. It is designed to be reused multiple times without compromising quality or integrity. Their bottles offer emissions reductions of up to 85% compared to single-use bottles and can be refilled up to 50 times, breaking even on carbon emissions after the third reuse.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Container Glass Market Characteristics
3. Container Glass Market Trends And Strategies
4. Container Glass Market - Macro Economic Scenario
5. Container Glass Market Size And Growth
…..
27. Container Glass Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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