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Container Glass Global Market Report 2024 To 2033 | Ardagh Group SA, Amcor PLC, Consol Glass Ltd
Container Glass Market Outlook
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According to The Business Research Company's, 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 Drivers and Trends:
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.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
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
Container Glass Market 2024 Key Insights:
• 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%.
• Increased Demand For Fast-Moving Consumer Goods And Alcoholic Beverages Drives Growth In The Container Glass Market
• Innovative Products Embraces Container Glass Market Growth
• Asia-Pacific was the largest region in the container glass market in 2023
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