Opportunities in the Global Glass Packaging Market 2020-2025 - A $51 Billion Industry

Dublin, Aug 25, 2020 (GLOBE NEWSWIRE via COMTEX) -- Dublin, Aug. 25, 2020 (GLOBE NEWSWIRE) -- The "Glass Packaging Market - Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

Modern day lifestyles have altered our consumption patterns, and the beverage industry is leveraging this trend. Compactness and mobility in terms of packaging of products are the lucrative characteristics being offered by the modern brewing sector to construct additional opportunities of revenue. As per the Kirin Beer University, global beer consumption in 2020 was estimated to be 186.72 million kiloliters. In terms of revenue earned by non-alcoholic beverages, PepsiCo reported an annual revenue of $63.5 billion in the same year. Increasing beverage consumption has generated demand for efficient packaging trends with provisions for longer shelf life, aroma retention, heat insulation, sealing and barrier against moisture. Such demands have driven the glass packaging market size to a staggering $51 billion in 2020. Beverages is an application segment under the glass packaging market, which also sees application across industries including food, pharmaceuticals, and cosmetics with eco-friendly, recyclable and sustainable products. A ban on plastic globally is shifting packaging demand towards glass, with demand growing at a global CAGR of 4.7% during the forecast period of 2020-2025.

The APAC region is estimated to be the leading region with 37% share of the global glass packaging market in 2020. Further analysis of imports and exports of glass products and consumption of beverages indicates several factors in support of APAC's dominance in the global glass packaging market.

• India is the leading importer of limestone, a chief raw material employed in manufacturing glass bottles.

• In 2020, China lead globally in terms of exports of glass bottles and containers for packaging and conveyance goods with export values amounting to $1.7 billion and $1.67 billion respectively.

• Asia retained its monopoly in beer consumption for the tenth consecutive year in 2020, and garnered 33.7% share in the global beer market.

• According to the India Brand Equity Foundation (IBEF), India is estimated to be among Coca-Cola's top three markets in terms of volumes, by 2021. It occupied the sixth spot in 2020 and is targeted to be fifth by the end of 2020.

With the beverages industry being the dominant employer of glass packaging, alcoholic beverages is identified to be the fastest growing application segment, progressing at a CAGR of 6.9% going through 2025. With alcohol consumption escalating year on year and novel entrants such as craft beer disrupting the market, alcoholic beverages will sustain their dominance in the glass packaging market share.

Glass to Substitute the Enormous Plastic Empire

Implementation of stringent bans on the use of plastic by countries worldwide is a major factor diverting substantial traffic from plastic packaging towards the eco-friendly and recyclable glass packaging market. As per the Plastic Oceans Organization, more than eight million tons of plastic are dumped into the oceans every year and owing to such alarming circumstances, the U.N. launched the #CleanSeas campaign to eliminate marine litter by 2022. With plastics being eradicated due to ecological concerns, glass packaging remains the primary option due to its recyclable properties. Furthermore, glass is resistant and non-porous; thus it cannot contaminate the product packed inside it. This is increasing its application in the cosmetic packaging market and pharmaceutical packaging market.