Packaging is a type of the advanced technology, which involves enclosing numerous defensive types of products for stocking, supply, sale, and use. The growing demand for non-toxic, healthy, and expediency food & beverages coupled with principal evolution in the alcoholic beverages and beer industry in the recent years have propelled the growth of the glass packaging market, exclusively in Asia Pacific, Europe, and North America.
Glass packaging products keep the consumables safe and healthy for longer period because glass is non-reactive with many consumable and non-consumable products. Glass is widely known for its recyclability and reuse, thus making it an ideal product for packaging alcoholic, non-alcoholic beverages, and pharmaceutical products. Glass possess a number of properties such as sterility, chemical inertness, and highly moldable, waterproof, and shapeable, which tends to make it more suitable for packaging a variety of product, which can be perishable and non-perishable.
The global glass packaging market is majorly propelled by the increase in the demand for alcoholic and non-alcoholic beverages, most preferably aerated soft drinks. The alcoholic beverages such as beer has witnessed a phenomenal growth in the consumption. The extensive use of glass in the beer bottle packaging coupled with the increasing disposable income, higher influence among the younger age crowd of beer consumption, ease of availability is boosting the sales of beer across the globe, which subsequently has resulted into the growth of the glass packaging for this segment.
Global glass packaging market is segmented based on product, application, and region. Based on the products, the market is segmented into bottles, jars, and vials. The bottles segment is projected to dominate the glass packaging market over the forecast period owing to the extensive use of bottles in the all major end-use sectors. Bottles provide an ideal way to keep the consumables safe, fresh, and healthy for a longer period as well as they are easy to transport. Based on the application, the market is segmented into alcoholic beverage packaging, non-alcoholic beverage packaging, food packaging, pharmaceutical and personal care packaging. Alcoholic beverage packaging dominated the market in 2016 and is projected to be the fastest-growing application during the review period 2017-2023. The growing consumption of alcoholic beverage, especially beer, whiskey, scotch, vodkal, and rum across the globe is creating a lucrative demand for alcoholic beverage packaging, which, in turn, is benefitting the global glass packaging market.
The glass packaging industry is widely segmented by a number of multinational, local, and regional vendors. The North American manufacturers currently hold the dominant position in the global market. Local players are mounting the stakes by catering revolutionary product line at lower prices as compared to international vendors. The market is also expected to have high expansion activities by deep-rooted and international manufacturers.
The globalglass packaging market is expected to grow at a CAGR of about 6% during the forecast period 2017-2023.
Global Glass Packaging Market:
The global glass packaging is segmented by the prominent regions, which are North America, Europe, Asia Pacific, and Rest of the World. Among these regions, Asia Pacific registered the highest market share in 2016 and is anticipated to grow at the highest CAGR over the forecast period on account of good presence of the raw material, low labor costs, and highly advanced manufacturing technology. The region contains most of the global population and thus, the consumption of food & beverages products as compared to the other regions is high. This has flourished the overall packaging industry including evolution of the glass packaging industry. China, India, Japan, and Australia among others are the prominent nations majorly contributing to the growth of the Asia Pacific glass packaging market. The phenomenal evolution in the food & beverage industry of these nations is creating a fruitful foundation for the glass packaging market. Moreover, growing pharmaceutical and chemical industries are substantially contributing to the development of the glass packaging market.
North America held the second largest share of the global glass packaging market in 2016 and is expected to witness a remarkable growth over the forecast period. Countries such as the U.S. and Canada are dominating the market due to high consumption of alcoholic and non-alcoholic beverages. The highly advanced technology used by the city municipals in the U.S. and Canada to recycle the glass products is aiding the glass packaging manufactures to manufacture the new product through the recycled glass, which indirectly reduces the cost of manufacturing. All these factors are majorly driving the North American glass packaging market.
The key players of global Glass Packaging market are Owens-Illinois Inc. (U.S.), Saint-Gobain S.A. (France), Ardagh Group S.A. (Luxembourg), Gerresheimer AG (Germany), Vetropack Holding AG (Switzerland), Amcor Limited (Australia), Nihon Yamamura Glass Co. Ltd. (Japan), Tamron Co., Ltd. (Japan), Piramal Glass (India), Hindustan National Glass & Industries Ltd. (India), Stölzle Glasgruppe GmbH (Austria), Vidrala SA (Spain), Wiegand-Glas GmbH (Germany), O.Berk Company LLC (U.S.) and Shandong Pharmaceutical Glass Co., Ltd. (China)