Valued to be $61.2 Billion by 2026, Glass Packaging Slated for Stable Growth Worldwide

A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Glass Packaging - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

 Players covered include Amocor Limited; Ardagh Group SA; Bormioli Rocco Srl; Consol Glass Pty., Ltd.; Gerresheimer AG; Heinz-Glas Group Holding HGGH GmbH & Co. KGaA; Hindusthan National Glass & Industries Ltd.; Koa Glass Co., Ltd.; Nihon Yamamura Glass Co., Ltd; O-I (Owens-Illinois, Inc.); Piramal Glass Ltd.; Stolzle-Oberglas GmbH; Verallia Group; Vetropack Holding Ltd.; Vidrala SA; Vitro S.A.B. de C.V.; Wiegand-Glas GmbH and Others.

Segments: Application (Alcoholic Beverages (Excluding Beer), Beer, Food & Beverages, Pharmaceuticals, and Personal Care Products & Chemicals)

Global Glass Packaging Market to Reach $61.2 Billion by 2026

Amid the COVID-19 crisis, the global market for Glass Packaging estimated at US$50.6 Billion in the year 2020, is projected to reach a revised size of US$61.2 Billion by 2026, growing at a CAGR of 3.1% over the analysis period. Alcoholic Beverages (Excluding Beer), one of the segments analyzed in the report, is projected to record a 3.6% CAGR and reach US$27.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Beer segment is readjusted to a revised 3.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $14.1 Billion in 2021, While China is Forecast to Reach $12.3 Billion by 2026

The Glass Packaging market in the U.S. is estimated at US$14.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$12.3 Billion by the year 2026 trailing a CAGR of 5.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.8% and 2.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.5% CAGR.

Food & Beverages Segment to Reach US$11.2 Billion by the year 2026

In the global Food & Beverages segment, USA, Canada, Japan, China and Europe will drive the 2.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.2 Billion in the year 2020 will reach a projected size of US$8.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.