Glass Packaging market 2019 research report including industry overview in terms of historic and present situation key manufacturers, product, application and types, key regions and marketplaces, forecast estimation for global market share, revenue, and CAGR.
Dallas, TX -- (SBWIRE) -- 01/26/2019 -- Adroit Market Research launched a study titled, "Global Glass Packaging Market Size 2017 By Application (Alcoholic Beverages, Beer, Pharmaceuticals, Food & Beverages, Others), By Region and Forecast 2019 to 2025".
The global glass packaging market revenue is estimated to reach USD 135.52 billion driven by the increasing demand for the product from numerous end-use industries, majorly from the beverage industry. Rising consumer spending coupled with unique properties of glass is supporting its growth in the global packaging industry.
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Strong capital investments by companies in their plants and working with other industry stakeholders to improve the quality of recycled glass; and to produce innovative packaging solutions to attract more customers are some of the macro factors that are augmenting the growth of the global glass packaging market.
The key trend in the global glass packaging market includes recycling and reduction in the weight of these containers. Suppliers are gradually increasing the usage of cullet to reduce the production and landfill cost. Furthermore, the weight of container glass has been reduced by nearly 30% since the earlier era resulting in the material posing a tough competition for its largest competitor, i.e., plastics.
The growing consumption of alcohol and beer is expected to drive the growth of the global glass packaging market over the next few years. The global beer production stood at 1.3 billion hectoliters in 1998 and increased to 1.95 billion hectoliters in 2017. Increasing beer consumption, especially among the youth of emerging economies, is expected to drive market growth. The growing demand for premium and craft beer is expected to drive the global market, consequently, augmenting the growth of the global glass packaging market.
Pharmaceutical is another application within the global glass packaging industry anticipated to witness significant gains over the forecast period, at a volume CAGR of 3.9% over the forecast period. The hydrolytic stability of glass makes it a viable option for storing pharmaceuticals as they do not react with the solution. The growth of the pharmaceutical industry is expected to provide an impetus to the growth of the global glass packaging market over the forecast period.
Countries such as China, India, and Brazil have seen significant growth in the glass packaging industry on account of the exploding development of the FMCG sector. The anticipated growth of the sector in these countries driven by increasing disposable income of consumers coupled with their substantial growth and size of economies is expected to drive the global glass packaging market.
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Asia Pacific was the largest market for glass packaging closely followed by Europe. Together, these regions accounted for 69.5% of the global glass packaging market volume share in 2017. Preference for glass over other materials among consumers in these regions is expected to augment the growth of the market.
The global glass packaging market is fragmented where the top three players accounted for a market share of over 30% in 2017. Owens-Illinois accounted for the largest market share in the same year. Top global supplier of container glass includes Owens-Illinois, Ardagh, Verallia, and Vidrala with 80, 35, 33, and 8 number of plants, respectively. Furthermore, North America and Europe are the most consolidated marketplaces across the globe with two to three players accounting for nearly 50%. China has the largest number of glass converters of about 900. China is also the largest producer as well as exporter of container glass. Other players in this market include AGI Glaspac, Carib Glassworks Ltd, Hindustan National Glass & Industries Ltd, Consol Glass, VITRO, Nampak Ltd, Amcor Ltd, Gerresheimer AG, Toyo Glass Co. Ltd, and Piramal Glass.
Key segments of the global glass packaging market
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
Alcoholic beverages (excluding beer)
Beer
Food & beverages
Pharmaceuticals
Others
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
North America
U.S.
Mexico
Canada
Europe
Germany
UK
Asia Pacific
China
India
Rest of the World
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