Press release
Glass Packaging Market to Develop New Growth Story 2024 - 2031 | Amcor Ltd, Ardagh Group, Gerresheimer
Glass Packaging Market
The Glass Packaging Market is estimated to be valued at USD 71.97 Bn in 2024 and is expected to reach USD 95.35 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.
Market Dynamics:
The glass packaging market is mainly driven by increased use of recycled glass. Recycled glass is used extensively in glass packaging manufacturing as it lowers production costs and reduces carbon footprint. According to a study, around 70% of glass containers produced in the United States are made from recycled glass. Stringent regulations regarding use of recyclable materials in packaging is another key factor augmenting the market growth. Additionally, glass is considered as a premium packaging material across industries like food and beverages, pharmaceutical owing to properties like moisture resistance and reusability, thereby benefiting market expansion over the forecast period.
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Major Market Driver: Growing demand for glass packaging in the food and beverage industry
The food and beverage industry has seen exponential growth in recent years, especially demand for packaged and processed food and beverage products. Glass packaging is hugely popular for food and beverage products due to its inert nature, transparency, reusability and sustainability. Glass does not react with the contents it contains and allows consumers to view the product. Major food and beverage companies in industries like dairy, alcoholic beverages etc have significantly increased their use of glass bottles and jars for packaging. The transparency and purity of the products are maintained through glass packaging. Several health trends have also led to increased demand for natural, chemical free packaging like glass. Furthermore, glass waste is 100% recyclable thus making glass packaging the most sustainable option for food and beverage products.
Major Market Opportunity: Growth of sustainable and eco-friendly packaging
With rising concerns over climate change and environmental degradation, sustainability has become one of the top priorities for both consumers and brand owners. There is a growing demand for packaging solutions that are eco-friendly, reusable/recyclable and manufactured using renewable/natural resources. Companies are under increased pressure from regulators as well as customers to switch to more sustainable packaging formats. This increasing focus on green packaging presents a major market opportunity for glass manufacturers. Glass being 100% recyclable without loss of quality makes it the most sustainable packaging option available. Companies can gain competitive advantage and boost sales by positioning their brands as environmentally responsible through use of glass containers. Several governments also offer subsidies and tax benefits for companies adopting sustainable practices like increased use of recycled glass in packaging.
Major Market Trend: Innovation in glass container shapes and designs
While glass has traditionally been used majorly for bottles and jars, packaging manufacturers are innovating new shapes, designs and features to meet the contemporary needs of brand owners and customers. Some of the major trends witnessed are introduction of innovative closure styles, customized shape bottles for specific products, usage of various color options and surface decorations on glass. Unique designs are helping brands differentiate their products on shelves. Technologies like injection molding, narrow neck presses etc allow micro sized containers and intricate detailing. Use of specialty glasses is also increasing for applications requiring long shelf life or temperature resistance. Such innovations are increasing the versatility of glass and boosting its usage for previously difficult to package products and categories. This helps in expanding the potential market scope for glass packaging.
Top Companies Featured in This Report:
★ Amcor Ltd
★ Ardagh Group
★ Gerresheimer
★ Hindustan National Glass & Industries Ltd
★ Koa Glass Co. Ltd.
★ Owens Illinois Inc
★ Piramal Glass Limited
★ Saint-Gobain
★ Heinz-Glas
★ Wiegand-Glas
★ Vidrala SA
★ Vitro Packaging
★ Nihon Yamamura
★ Verallia
★ Wrapper India
★ Toyo Seikan
★ O-I Glass
★ AptarGroup
★ Schott Kaisha Pvt Ltd
★ Roetell
Market Segmentation:
By Product Type:
★ By Type: Bottles, Jars, Vials & Ampoules, Others)
★ By End-Use Industry: Food & Beverages, Personal Care, Healthcare, Household, Others (Agriculture, etc.)
Key Regions/Countries are Classified as Follows:
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
South America (Brazil, Argentina, Rest of SA)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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Reasons to Obtain Our Comprehensive Market Report:
• Conduct an extensive analysis of various aspects of the Glass Packaging Market utilizing Porter's Five Forces framework.
• Gain insights into the growth rate and market shares of different product types and applications/end-users within the Glass Packaging Market.
• Explore the Glass Packaging Market dynamics across different regions through comprehensive regional analysis.
• Assess the impact of Covid-19 on the Glass Packaging Market with a meticulous research approach.
• Stay updated on the latest developments, market shares, and strategies of key market players within the Glass Packaging Market.
• Delve into a thorough evaluation of the market strategies, geographical presence, and business segments of the top players in the Glass Packaging Market.
• Anticipate key challenges, product advancements, and solutions that may influence the market's progression and threats.
Key Questions Answered:
• What was the size of the Glass Packaging Market in 2021, and what will it be worth by 2030?
• What is the current global scenario for the Glass Packaging Market?
• What are the optimal business strategies for maximizing growth potential?
• What are the recent trends in the Glass Packaging Market?
• What is the market share in terms of revenue, sales, and size in specific geographical regions?
• Who are the key industry players in the Glass Packaging Market?
• Which segments of the Glass Packaging Market are in high demand?
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About Us
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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