Glass Packaging Market in North America - 73% of Growth to Originate from the US

NEW YORK, Feb. 17, 2022 /PRNewswire/ --

Glass Packaging Market in North America Facts at a Glance-

• Total Pages: 120

• Companies: 10+ – Including Amcor Plc, Ardagh Group SA, BA Glass BV, Gerresheimer AG, HEINZ-GLAS GmbH & Co. KGaA, O-I Glass Inc., Piramal Glass Private Ltd., Sonoco Products Co., Uhlmann Pac Systeme GmbH and Co. KGA, and WestPack LLC among others.

• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis

• Segments: Application (food and beverage, pharmaceuticals, personal care, and others)

• Geographies: The US, Canada, and Mexico

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According to the recent market study by Technavio, the Glass Packaging Market in North America will grow by USD 3.30 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.61%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets. The US will register the highest growth rate of 73% among the other regions.

Regional Market Outlook

TheGlass Packaging Market in North America's share growth in the US will be significant during the forecast period. Market growth in this region will be faster than the growth of the market in other regions. The major driving factor for the glass packaging market in the US is the high consumption of alcoholic beverages in the country. According to Glass Packaging Institute (GPI), the US glass container industry manufactured 26.5 billion glass containers in 2019, and beer bottles accounted for almost 50% of glass container consumption in the US in 2020. Also, wine glass packaging producers constantly invent new designs to stay up with the newest trends. For example, in September 2020, Ardagh Group, Glass, North America, a business division of Ardagh Group and the domestic manufacturer of glass bottles for the US spirits market, confirmed a long-term supply agreement with Heaven Hill Brands, an independent, family-owned, and operated distilled spirits supplier, to manufacture premium spirits bottles in the US. The demand for glass containers from the alcoholic beverage industry will drive the demand for glass packaging in the US during the forecast period.

Vendor Insights-

The Glass Packaging Market in North America is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.

• Amcor Plc - The company offers glass packaging products such as Glassy.

Latest Drivers & Trends Driving the Market-

• Glass Packaging Market in North America Driver:

The increasing consumption of beverages is one of the key drivers supporting the glass packaging market growth in North America. Glass containers provide enhanced protection from external environmental factors and help preserve the flavor and aroma of the product for a long period. The increased use of single-serve containers, rising disposable income, and improved standards of living are augmenting the demand for glass beverage containers. The proliferation of distinct package sizes, the introduction of fresh products, and increased consumption of healthier drinks, and non-dairy milk alternatives, will drive the need for glass containers. This, in turn, will boost the growth of the glass packaging market in North America during the forecast period.

• Glass Packaging Market in North America Trend:

The demand for sustainable packaging is another factor supporting the glass packaging market growth in North America. Sustainable packaging will have a major impact on the purchasing decision of end customers during the forecast period and beyond. This is due to the growing consensus among consumers that packaging materials lead to more wastage and environmental pollution. Approximately one-third of the consumers think that some products are often over-packaged. Therefore, materials with the least environmental footprint are expected to have higher demand. In terms of the recyclability of packaging materials, glass stands at the third position after paper and metal. Such factors are expected to drive market growth during the forecast period.