Glass is widely preferred and used as a packaging material globally. Glass is made from all-natural sustainable raw materials and are widely used as a packaging material by end-users concerned about their health and the environment. Consumers prefer glass packaging for preserving a product’s taste or flavor and maintaining the integrity or healthiness of foods and beverages due to its nonporous & impermeable nature, and also it has zero rate of chemical interactions. Glass is made from sustainable raw materials such as silica, limestone, soda, and others.
The global glass packaging market has witnessed significant growth in recent past years, owing to the rising demand for paper-based packaging for cosmetic products owing to rise environmental concerns among consumers Furthermore, growing investments for research & development in production glass packaging solutions have led to the introduction of products with enhanced better durability. This factors are expected to provide lucrative growth to the global glass packaging market over the forecast period.
Increasing population and high consumption of FMCG products by consumers are expected to augment the market growth of glass packaging. Growing demand for glass bottles and jars due to the growing use of the premium product is expected to accelerate the market growth of the glass packaging. Increasing consumption of beverages such as juices, tea, coffee, and soups is further expected to foster the market growth of the glass packaging over the forecast period.
Increasing production of glass packaging around the globe is expected to augment the market growth of glass packaging. According to the Glass Alliance Europe, in 2020, the EU-28 glass production reached a volume of nearly 39.12 million tons. Thus, the growing production of glass is expected to augment the market growth of the glass packaging over the forecast period.
Growth in the packaging industry due to increasing demand for consumer products is expected to bolster the market growth over the forecast period. According to the Indian Institute of Packaging report in October 2020, the packaging industry in India is expected to reach US$ 204.81 billion by 2025 from US$ 50.5 billion in 2019 at 26.7% annually. Thus, the growing packaging industry is projected to boost the market growth of glass packaging.
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