Demand for glass packaging is on the rise as it is increasingly becoming one of the preferred materials for food and beverage products, pharmaceutical products, and personal care products among others. Glass packs are not chemically reactive, which is one of the key attributes of this kind of package. Further, glass packages are more sterile compared to the other type of packages and its re-usable nature are the factors for its increased preference among the end-use industries.
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Common forms of glass are primarily made from silica and soda ash, sand and limestone. Further, recycled glass is also used for the production of glass. According to Insights and Reports, worldwide volume consumption of glass containers and bottles are expected to cross the 70 million tons mark by the end of 2023, thereby projecting an optimistic growth of the global glass packaging market.
Further, rising geriatric population is another key factor augmenting market growth of the pharmaceutical industry, which in turn is fuelling the demand for glass packaging. According to Insights and Reports, retail sales of homeopathic and herbal medicines in the U.S. crossed the US$ 7 billion mark in 2017.
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Europe was the second largest market for glass packaging in 2016, followed by North America. Alcohol consumption in Germany is experiencing a downturn. 2016 witnessed a meager 10% alcohol consumption in consumers aged 12-18. Alcohol consumption among the teenage population has also witnessed a decline.
Key players operating in the ecosystem of glass packaging include Saint Gobain S.A., Amcor Limited, Bormioli Rocco S.p.A., Ardagh Group, China Glass Holdings and Gerresheimer A.G. among others.
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