Glass Packaging Market revenue projected to rise to 2024

Zion Market Research has recently released its report on the Global Glass Packaging Market.

Packaging is defined as a system of enclosing products and preparing goods for long distance transportation, distribution, storage, and delivery to consumers. Glass is the most chosen packaging material for beverages and foods, pharmaceuticals, and personal care products. It maintains the quality and flavor of the food products without affecting its taste. Its high-quality characteristics such as reusability, chemical inertness, sterility, transparency, corrosion, and heat resistivity make it eligible for diversified application. The size, shape, and color can be achieved through various molding processes depending on the end application.

Global Glass Packaging Market: Segmentation

On the basis of the type of materials, the global glass packaging market is segmented as sand, sodium carbonate (soda ash), calcium carbonate (limestone), and cullet. In addition, to enhance or for recognition of the products, the small amount of metal composition is added in order to colorize or decolorize the product. Hence, on the basis of this metal composition, the global market is segmented as iron pyrite, iron oxide, cobalt oxide, and selenium. The end-products of the glass packaging are bottles and jars. Based on the end-user application, the global market is further classified as food, beverages, personal care, pharmaceuticals, alcoholic, and medical industries.

Global Glass Packaging Market: Growth Factors

Significant change in the lifestyle and increasing health consciousness among the consumers are the factors driving the demand for products such as juices and drinks or functional drinks, which indirectly raises the demand for glass packaging. Wide application of glass packaging in pharmaceuticals industries in terms of drug delivery without contamination as well as its anti-corrosive property and high sterilization strength also makes it applicable in the medical industry. The Huge demand for alcohol drinks, which is majorly packed in glass bottles in various quantities, is one of the major factors responsible for driving the growth of the glass packaging market. Moreover, rising population and high consumption of food and beverages, as well as various FMCG products by the consumers, are driving the glass packaging market globally. On the other hand, development of various alternatives such plastic with similar properties may restrain the growth of glass packaging market in future.

Global Glass Packaging Market: Regional Analysis

Geographically, Asia Pacific is anticipated to be the largest market for glass packaging and is also projected to grow in coming years owing to increasing consumption of food and beverages and rising trend of consuming alcoholic drinks. Europe is estimated to grow rapidly due to technological developments and high consumption of beer along with rising industrialization majorly in France and Germany. Moreover, North America and the Middle East are anticipated to grow at a steady pace owing to rising pharmaceuticals industries in these regions.

Global Glass Packaging Market: Competitive Players

Some of the key players contributing their efforts in glass packaging market are CVC Capital Partners, Amcor, Ardagh Group, Gerresheimer, Koa Glass, Owens Illinois Inc., Saint Gobain, Heinz Glass, BA Glass, Weigand Glass, Vidrala SA, Nihon Yamamura, China Glass Holding Limited, Consol Glass Limited, Stolzle-Oberglas GmbH, Piramal Glass Limited, and Tamron Co., Ltd. Major players are adopting new strategies to enhance their position in the global market. For example, CVC Capital Partners along with BA Glass is having plans to buy Anchor Glass Container Corp. for $1 Billion.