Post Time：Oct 26,2021Classify:Industry NewsView：1112
The glass bottles market survey offers insights into chief growth drivers and restrains impacting the overall growth trajectory. The survey also provides insights into competitive landscape of global glass bottles market, identifying the key market players and analyzing the impact of their growth strategies.
As per a study by FMI, the glass bottles sales are expected total US$4.8 bn through 2031, growing at a CAGR of 5.2% over the forecast period of 2021 to 2031. The market witnessed a rise of 3% CAGR during its historical sales period between 2016 and 2020.
According to a study by FMI, the glass bottles market worth will reach US$37.1 bn in 2021. After battling a slight dip of sales during COVID-19 outbreak, the sales grew by 1% year-on-year in 2021.
Glass bottles are 100% recyclable, which makes them better alternative to plastic bottle form the environmental point of view. With focus on sustainability rising at a high pace, glass bottles sales will continue rising through the assessment period.
As per FMI, sales in the U.S. will rise considerably. Ban on single-use plastic and other policies undertaken to protect environment will create a conducive environment for increasing glass bottle sales in the country. Besides this, demand in China will continue surging, pushing growth in East Asia.
While glass bottle application is increasing across diverse industries, the food and beverages sector will account for over half of the market share. Increasing use of glass bottles in beverage packaging will continue driving sales. Demand in pharmaceutical sector also is expected to rise in the coming years.
"Innovations remain key focus for market players. From launch of long-neck beer bottles to ensuring greater agility, manufacturers are leaving no stone unturned to cater to the changing consumer preference," says the FMI analyst.
Key Takeaways
The U.S. is expected to lead the global market as it holds 84% market shares in North America. Consumers in this country prefer and consume glass bottles for alcoholic beverages. The ban on single use plastic is also another factor boosting demand in the market.
Germany holds 25% of the Europe market as it has some of the oldest and largest pharmaceutical companies in the world. The usage of glass bottles in Germany is majorly driven by pharmaceutical application.
India holds 39% market shares in South-Asia as this country is the second largest consumer and producer of glass bottles in the region.
Type I grade glass bottles hold 51% of the market and are expected to register high demand due to extensive application in pharmaceutical industry.
Glass bottles with capacity of 501-1000ml hold 36% market share as they are primarily used for storing and transporting water, fruit juices, and milk.
Key Drivers
Rising trend for sustainable, bio-degradable materials in packaging industry is expected to boost demand for glass bottles in the market.
Glass bottles are becoming the ideal packaging material for food and beverage application therefore boosting its demand in the F&B industry.
Key Restrains
COVID-19 crisis has impacted the production and manufacturing of glass bottles due to lockdown and disrupted supply chain.
Shutdown of numerous end-use industries is also expected to hamper demand for glass bottles in the global market.
Competitive Landscape
The global glass bottles market is moderately fragmented in nature. Key players in the market are focusing on increasing production and investing in product development. Innovation for improved, sustainable products will keep players ahead in the competition.
For instance, in June 2021, AB InBev announced about the launch of a lightweight longneck beer bottle for commercial applications. Several other companies are expected to focus on product launches spurring growth in the market.
Key players operating in the glass bottles market profiled by FMI includes:
Owen Illinois, Inc.
Ardagh Group, SA
Vitro, S. A. B. de C. V.
Vidrala, S.A
BA Glass B.V.
AGI Glasspack Limited.
Frigoglass Jebel Ali FZCO
Consol Glass (Pty) Ltd.
Toyo Glass Co., Ltd.
Gerresheimer AG
Vetropack Holding AG
Borosil Glass Works Ltd.
Carib Glassworks Limited (CGL)
Piramal Glass Private Limited
Albéa S.A.
Verallia SA
Stölzle-Oberglas GmbH
Gallo Glass Company
Allied Glass Containers Ltd
SGA S.A.
Glass Bottles Market
More Insights on the Glass Bottles Market:
FMI provides an unbiased analysis of the glass bottles market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global glass bottles market with a detailed segmentation on the basis of:
By Grade:
Type I
Type II
Type III
By Manufacturing Process:
Blown
Tubing
By Capacity:
Up to 50 ml
51 - 200 ml
201 - 500 ml
501 - 1000 ml
1001 ml & Above
By End User:
Food
Beverages
Pharmaceuticals
Personal Care & Cosmetics
Perfume & Fragrances
Chemicals
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa (MEA)
Source: https://www.bignewsnetwork.com/Author: shangyi
