Post Time：May 16,2023Classify:Industry NewsView：1129
According to a Comprehensive Research Report by Market Research Future (MRFR), “Glass Packaging Market Information by Glass Type, Jar Size, Raw Material, Application, and Region - Forecast till 2030”, Glass Packaging Market could thrive at a rate of 5.92% between 2022 and 2030. The market size will be reaching around USD 74.87 Billion by the end of the year 2030
Market Synopsis
Glass packaging is widely used in food and beverage, pharmaceuticals, cosmetics, and other industries to preserve and protect products. The global glass packaging market is expected to grow in the coming years due to the increasing demand for sustainable and eco-friendly packaging options.
One of the major drivers of the glass packaging market is the growing demand for sustainable packaging solutions. Glass is 100% recyclable and can be reused multiple times, making it a preferred option for environmentally conscious consumers and companies. In addition, glass packaging offers superior protection and preservation properties, which is important in industries such as food and beverage and pharmaceuticals.
Market Competitive Landscape:
The affluent companies in the Glass Packaging industry include
Saint-Gobain
Owens-Illinois, Inc.
Amcor plc
Ardagh Group S.A.
HEINZ-GLAS GmbH & Co. KGaA
BA GLASS GROUP
Bormioli Rocco S.p.A
Consol
Gerresheimer AG
Among others.
Report Scope:
Report Attribute | Details |
Market Size 2030 | USD 74.87 Billion |
CAGR | 5.92% CAGR (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Application, and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Market Dynamics | Growing construction, and oil & gas industry worldwide Growing international trade agreements between countries and organizations |
Market USP Covered:
Market Drivers:
One of the major drivers of the glass packaging market is the increasing demand for sustainable and eco-friendly packaging options. Consumers are becoming increasingly conscious of the environmental impact of packaging and are seeking out products that use recyclable and biodegradable materials. Glass packaging is a popular choice as it is 100% recyclable, reusable, and does not release harmful chemicals into the environment when disposed of properly. Furthermore, glass packaging offers excellent barrier properties that help preserve the quality and freshness of the product.
Market Restraints:
One of the main restraints of the glass packaging market is its fragility and weight. Glass is heavy, which makes transportation costs higher compared to lighter materials such as plastic. In addition, glass is brittle and can break easily, which increases the likelihood of damage during transportation and storage. This can result in higher costs for companies due to product loss and damage. To overcome this challenge, manufacturers are developing stronger and more durable glass packaging that is resistant to breakage and can withstand rough handling during transportation.
COVID 19 Analysis
The glass packaging market was impacted by the COVID-19 pandemic, particularly due to the disruption of global supply chains and the reduction in demand for non-essential products. The lockdowns and restrictions on movement in many countries led to a reduction in manufacturing activity and a decline in demand for glass packaging. The pandemic also resulted in a shift in consumer behavior, with more people purchasing goods online and opting for contactless delivery, which affected the demand for glass packaging in traditional brick-and-mortar stores. However, the pandemic also highlighted the importance of sustainable and eco-friendly packaging options, and this has led to an increased demand for glass packaging. As more people became aware of the environmental impact of single-use plastic and other non-recyclable materials, they started looking for more sustainable alternatives, including glass packaging. Additionally, the pandemic led to an increase in the consumption of packaged food and beverages, which also boosted the demand for glass packaging.
Market Segmentation
By Glass Type
The glass types in the market include Type I, Type II, Type III, and Others.
By Jar Size
By jar size, the segment includes 20-50 mL, 51-100 mL, 101-250 mL, 251-500 mL, and Above 500 mL
By raw material
By raw material, the segment includes Cullet, Selenium, Cobalt Oxide, Limestone, Dolomite, Coloring Material, and Others
By Application
By application, the segment includes Alcoholic Beverages, Non-Alcoholic Beverages, Food, Pharmaceuticals, Personal Care, Beauty Products, and Others.
Source: https://finance.yahoo.com/Author: shangyi
