2019-2024 United Arab Emirates (UAE) Container Glass Market Latest Research by Business Expansion Plans, Growth Rate, Industry Demand Status, Top Opportunities, and Forecast

“United Arab Emirates (UAE) Container Glass Market” report provides an in-depth research of market-based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. United Arab Emirates (UAE) Container Glass Market is comprehensively prepared with main focus on the competitive landscape, geographical growth, segmentation, and market dynamics, including drivers, restraints, and opportunities. It also analyzes the current and future prospect of United Arab Emirates (UAE) Container Glass Market.

Complete in-depth analysis of the United Arab Emirates (UAE) Container Glass

• Important changes in market dynamics.

• Segmentation analysis of the market.

• Emerging segments and regional markets.

• Historical, on-going, and projected market analysis based on volume and esteem.

• Assessment of niche industry players.

• Market share analysis.

• Key strategies of major players

Market Overview:

• The United Arab Emirates(UAE) container glass market was valued at USD 215.50 million in 2018 and is expected to reach a value of USD 247.06 million by 2024, at a CAGR of 2.19%, over the forecast period 2019-2024. With high and increasing disposable incomes, the spending of the UAE population on different goods is also growing. According to the World Bank, the share of the urban population in the United Arab Emirates increased from 84.42%, in 2011, to 86.25%, in 2017. The number of expats in the United Arab Emirates is also growing, which is expected to positively impact market growth.

• – The United Arab Emirates has the highest consumption rates of bottled water in the world. Consumers in the country are using glass to hold food and beverages for hygienic reasons, as well as to protect the environment against plastic bottles. Moreover, customers in the country prefer to drink juices, flavored drinks, and other beverages from glass bottles. Glass containers can be reused for many purposes, as compared to other materials.

• – Additionally, the consumers in the United Arab Emirates spent more than USD 200 per capita on beauty products, in 2017. Many international beauty hubs, such as Brazil, Spain, and Italy, are launching their stores in the United Arab Emirates, in order to leverage the opportunity. The increase in cosmetic products usage is expected to drive the growth of container glass market in the region.

• – For instance, in September 2018, a Brazilian cosmetic brand, O Boticario, partnered with Dubai-based investment management company, Millennial Capital, to expand in the Gulf region.

• – As glass is one of the most suitable materials for packaging, it is facing tough competition from other packaging materials. On considering issues, like health and environment, no other packaging material can offer better benefits than glass. However, for commercial reasons, the usage of other packaging materials is on the rise. Some of the reasons that compel the pharmaceutical industry to switch to other packaging mediums are load ability, breakages, and the cost of glass packaging.

  
  

  United Arab Emirates (UAE) Container Glass Market Segmentation by Top Key Players:

• Frigoglass SAIC

• Saverglass SAS

• Middle East Glass Manufacturing Company SAE

• RAK Ghani Glass LLC

• Majan Glass Company SAOG

• Gerresheimar AG

• Piramal Glass Private Limited

• Unitrade FZE

  
  

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  Scope of the Report:

• Glass, being a versatile material in containermanufacturing, preserves the original taste of the drink inside without altering its taste or quality. Glass containers are available in the market in a variety of colors, shapes and sizes according to the prevailing demand.

• Key Market Trends:

  Beverage has the Largest Share in the Market Presently

  – Glass, being a versatile material for packaging, preserves the original taste of the drink, without altering its quality. However, alcoholic beverages are very limited, if not non-existent, owing to the Islamic Sharia Law followed in the region that prohibits the use or consumption of alcohol for spiritual reasoning.
  – The non-alcoholic beverage segment includes packaging solutions for juice, soda, milk, ready-to-drink coffee and tea, carbonated drinks, and sports and energy drinks. Flavored beverages are gaining popularity in the region, as health and wellness consumers are more interested in a variety of different taste options.
  – Moreover, consumers are trading down to smaller size bottles, and with this trend set to continue over the forecast period, consumer demand for price-sensitive container glass packaging products also increases.
  – The glass containers market is facing fierce competition from plastic in the non-alcoholic beverage industry. However, returnable glass bottles remain an essential form of product delivery for all major companies in the non-alcoholic beverage industry, as they provide a cost-effective method.
  – This has helped the glass packaging solutions to maintain their market share and has been driving the adoption due to sustainability features. Along with this, technological advancements have also reduced the weight of glass packaging by 30% in the last five years, while providing equivalent strength. This has dramatically boosted the glass bottles and containers market, especially in the non-alcoholic beverage sector.

  Pharmaceutical has Significant Share in the Market

  – The Middle East region significantly depends on pharmaceuticals and medical doses. The United Arab Emirates shares similar climatic and geographic features and follows a similar trend. In September 2018, the UAE Cabinet approved a federal budget of AED 60.3 billion for the year 2019, of which the healthcare sector is expected to receive AED 4.40 billion.
  – Light and UV penetration concerns have led to the high use of amber bottles in the pharmaceutical industry. For instance, amber colored bottles provide maximum protection from all different wavelengths of light and are mandated in case of many drugs.
  – Besides, government initiatives in the field have further propelled the market. With the collaboration of supply chain members and government, a proper chain for recycling is created, which may assist the vendors in the market and is expected to cut the cost.
  – For instance, in June 2017, the MoH signed a memorandum of understanding with Jebel Ali Free Zone Authority (Jafza) for the development of the pharmaceutical and healthcare sector, with focus on reducing the regulatory barriers. As part of the agreement, the United Arab Emirates is aiming to attract 75 innovative drug makers to the Jebel Ali free zone by 2021. Thus, it is indicating that the MoH intends to work with local companies, to improve the licensing policy for existing drug manufacturers, owing to which the market is expected to gain momentum, during the forecast period.
  – Further, generic drugs adoption is on rising in the region which has the highest adoption of glass packing in the region. Dr. Ameen Hussain Al Amiri, the Ministry’s Assistant Under-Secretary for Public Health and Licensing said in comments published by news agency WAM that the country is also planning to increase the number of manufacturing facilities to 30 by 2020.