Europe Glass Packaging Market will exhibit a CAGR of 4.38% and reach USD 22.01 billion by the end of 2027, and the market value as per 2019 was USD 19.24 billion.
Fortune Business Insights, titled, “Europe Glass Packaging Market Size, Share & Industry Analysis, By End-use Industry (Skin/Personal Care, Fragrance, Food, Beverages (Alcoholic beverages, Non-Alcoholic beverages}, Pharmaceuticals and others), and Regional Forecast, 2020-2027”.
Europe Glass Packaging Market Drivers and Restraint :
The increasing demand for glass packaging from the food and beverage sector is a key factor boosting the Europe glass packaging market growth. Most of the alcoholic and non-alcoholic beverages such as milk, beer, sauces, juices, and others are packed in glass containers and bottles as glass helps to maintain the authenticity of the product stored in it without disrupting the taste or smell. Additionally, the increasing awareness about health and fitness and the rising inclination of people towards healthy food and drinks are expected to aid in the expansion of the market in the coming years.
Beverages Segment to Cover Largest Share in the Coming Years
With respect to segmentation by end-use industries, the beverage segment earned 73.18% Europe glass packaging market share in 2019 and emerged dominant. The beer industry holds the major share, contributing to maximum shares in the beverage sector. Food industry, on the other hand, holds the second largest share.
West European Nations hold Highest Share Owing to Increasing Inclination towards Environment-friendly Products
Nation wise, the western nations such as the United Kingdom, France, Germany, and Italy are holding more than 55% share and held the largest Europe glass packaging market share in 2019. They are further expected to continue doing so in the coming years owing to the rising inclination towards environment-friendly packaging products.
Some of the Key Players of the Market for Europe Glass Packaging include:
• Ardagh Group S.A.
• Steklarna Hrastnik, d. o. o.
• Bruni Glass
• Groupe Pochet
• Vetropack Group
• Gerresheimer AG
• HEINZ-GLAS GmbH & Co. KGaA
• Bormioli Luigi SpA
• Stolzle-Oberglas GmbH
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/europe-glass-packaging-market-103472
Some Industry Developments of the Market for Europe Glass Packaging include:
October 2020 – Renovation of clear-glass furnace was successfully completed by Gerresheimer AG. It installed a new and improved technology in the factory will help to reduce the energy needs and multiply the overall glass production capacity for its consumers in the healthcare and pharmaceutical industry.