Wednesday, 20 December 2017

Glass Packaging Market Analysis, Outlook and Forecast 2025

Packaging is a technology that involves enclosing and protecting various types of products for storage, distribution, sale and use. The increasing demand for healthy, safe, convenience food & beverages and major growth of alcoholic beverages and beer industry in the recent past, especially in Asia Pacific, Europe and North America has been rapidly driving growth of the global glass packaging market. Glass packaging products can keep consumables safe and healthy for prolonged periods of time, as glass is largely non-reactive with most products. Also, it inhibits chemical interaction between the liquid and body. Glass products can be 100% recycled and reused. Also, 80% of recycled glass can be made into new glass products as well. Glass packaging is widely used for the packaging of beverages (alcoholic and non-alcoholic) and pharmaceutical products.
There are four types of glass used in glass packaging, namely, Type I glass, Type II glass, Type III glass, and Type IV glass. The type I and Type III glass packaging are mostly preferred by end users. The type I glass products are produced from borosilicate and are largely used by pharmaceutical and chemical companies, as they have the ability to keep chemicals safe. The type III glass are made from untreated commercial soda lime glass, and are highly preferred by the food and alcoholic beverages end-users. This is due to their ability to keep the consumables safe and healthy for huge period of time. The increasing consumption of alcoholic beverages and beer are making the type III glass products as the dominant product type segment, accounting over 83% in terms of value, in the global glass packaging market.
On the basis of product type, the global glass packaging is segmented into bottles, vials, jars, and others. Bottles was the largest product type segment in the global glass packaging market in 2016 and is expected to retain its dominance throughout the forecast period. The glass bottles are widely used by alcoholic beverages (except beer), beer and soft beverages end users. The glass bottles have the ability to keep the consumables fresh, safe and healthy for a longer period of time. The plastic bottles are unable to keep consumables safe for a longer period of time and also there is a lot of chemical interaction, which in turn is encouraging alcoholic beverages & beer manufacturers to opt for glass bottles for packaging. Moreover in food & soft beverages industry, glass provides the highest level of protection and the quality and freshness of food is maintained. Also, in pharmaceuticals industries as well, the product protection and safety are of the utmost importance. Owing to this, the inert material, namely, glass is the most ideal packaging option for the pharmaceutical industry, as glass packaging safeguards contents from oxygen ingress and cross-contamination, hence providing the superior protection.
The global glass packaging market was valued at US$ 53,616.38 million and 72,030.27 kilo tons in 2016 and is expected to expand at a CAGR of 4.9% in terms of revenue and 4.8% in terms of volume during 2017 – 2025.
Alcoholic Beverages (except Beer) is the largest end-use industry, followed by Beer for glass packaging market
Alcoholic end-use industry segment is expected to be the dominant industry, followed by beer in the global glass packaging market over the forecast period and are also expected to witness fastest growth over the following decade. The rapid increase in alcohol consumption, especially in the Asia-Pacific and Europe regions is the major driving force for the growth in glass packaging market. Also, the growing population coupling with high standard of living are the also the key factors driving alcohol consumption around the world. The glass bottles are mostly preferred by beer and wine manufacturers, thus, the increasing beer consumption in China, India, and other developing economies are adding up to the significant growth in global glass packaging market. Furthermore, the ability of glass materials to occur in different attractive shapes are propelling wine manufactures to use the glass bottles for packaging. Hence, the rise in wine market in Europe and Asia-pacific region is coupling the growth of glass packaging market globally.
Regional Insights
Asia-Pacific, followed by Europe, and North America, respectively accounted for major share in the global glass packaging market both in terms of revenue and volume in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, Asia-pacific held a market share of 38.5% in terms of value in the global glass packaging market. The rising population, increasing beer consumption in China, India, and ASEAN countries, and rise in the standard of living are the major factors fueling the growth of glass packaging market in Asia-Pacific. In Europe, the alcoholic beverages and beer consumption is increasing at a huge pace, especially in France, Italy and Germany. Also, there is a huge demand of attractive shape glass bottles by wine and spirit manufacturing companies in Europe, which in turn is allowing glass packaging market to grow at a significant pace over the following years.
Multinational players
Major players in the global glass packaging market include Saint-Gobain S.A, Amcor, Bormioli Rocco, Ardagh Group, China Glass Holdings, Gerresheimer AG, Hindusthan National Glass & Industries, Heinz-Glass, Koa Glass, Orora Packaging Australia, Nihon Yamamura Glass, Owens-Illinois Inc., Piramal Glass and Consol Glass.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Contact Us
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200 Seattle,
WA 98154
Tel: +1-206-701-6702

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)