Glass Packaging Is Fastest Growing Segment Fueling The Growth Of Glass Packaging Market

 

The global Glass Packaging Market is estimated to be valued at US$ 63.8 Billion in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: Glass packaging products serve as great barrier packaging materials against moisture, oxygen, aroma, and light. Glass packaging is suitable for packaging medicinal products, food and beverages as glass doesn't react with the content and is highly reusable.

Market Key Trends: One of the key trends driving the glass packaging market growth is surge in demand for glass packaging from the premium beverage industry. Premium and high-end alcoholic and non-alcoholic beverages demand innovative glass packaging solutions to appeal customers. Premium brands rely on unique glass packaging designs and finishes such as embossing, debossing and labeling to attract customers on shelves. This trend is fueling demand for specialized glass packaging and driving the market growth.
Here are the requested Segment Analysis and Key Takeaways for the given Glass Packaging Market:

Segment Analysis

The glass packaging market is segmented by product type and end use. Based on product type, the glass bottles segment accounts for around 60% of the total market share and it is the dominating segment. Glass bottles are most commonly used for packaging beverages such as alcoholic and non-alcoholic beverages. They are also used for packaging food products such as sauces, preserved foods, etc. Glass bottles offer attributes like recyclability, maintenance of product integrity and aesthetic appeal which has made them popular packaging solution among beverage and food producers.

Key Takeaways

The global glass packaging market is expected to witness high growth, exhibiting CAGR of 3.7% over the forecast period, due to increasing use of glass packaging in food and beverage industry. The food and beverage industry has been growing steadily driven by rising population, income levels and changing tastes and preferences of consumers. Glass packaging offers excellent barrier properties to retain freshness, is considered safe for direct contact with food due to its inertness and is fully recyclable.

Regional analysis - Asia Pacific is currently the largest and fastest growing market for glass packaging accounting for around 35% of the global market share. China is the largest consumer of glass packaging in the region owing to its large population and growing food and beverage industry. India and Southeast Asian countries are also exhibiting high growth on account of rising middle class, urbanization and westernization of diets.

Key players - Key players operating in the glass packaging market include Amcor Ltd, Ardagh Group, Gerresheimer, Hindustan National Glass & Industries Ltd, Koa Glass Co. Ltd., Owens Illinois Inc, Piramal Glass Limited, Saint-Gobain, Heinz-Glas, Wiegand-Glas, Vidrala SA, Vitro Packaging and Nihon Yamamura. The market is relatively consolidated with top players accounting for majority of market share. Companies are focusing on expanding their production capacities in high growth regions to leverage opportunities.

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