Glass is considered as an ideal material for packaging of products as it reduces the risk of contamination and also protects the product from any damage. Glass is derived from natural products such as limestone, sand, and soda ash. Moreover, glass packaging provide long-term preservation of food products. It is eco-friendly as it can be recycled easily and has a zero rate of chemical interaction which makes it ideal packaging materials. Glass is highly popular for packaging of alcoholic and non-alcoholic drinks, since it conserve the taste and aroma of the beverage and also increase the shelf-life of the food products.
Global glass packaging market was valued at US$ 63.8 Billion in 2021 in terms of revenue, exhibiting a CAGR of 3.7% during the forecast period (2022 to 2030).
Growing demand for glass packaging from cosmetic & personal care industry for packaging of cosmetic products is expected to accelerate the market growth. Glass packaging is used to package the perfumes, nail polishes, face creams, lotions, etc. Glass material preserve the cosmetic products by preventing the penetration of air &moisture and increase the shelf-life of the product. Thus, the growth of the glass packaging market is also attributed to the rapid growth of the cosmetic industry.
Increasing demand for glass packaging from the pharmaceutical industry where it is available in the form of oral vials and bottles for packaging of medicine is expected to bolster the market growth of the glass packaging. It offers chemical resistance to the medicine and prevent contamination. Therefore, growth in the pharmaceutical industry due to increasing production of medicines is projected to accelerate the market growth of glass packaging.
Among region, Asia Pacific held a dominant position in market in 2021, and is expected to maintain its dominance throughout the forecast period. The increasing consumption of alcoholic beverages is driving market growth in the Asia Pacific region. The beer packaging industry in the Asia Pacific region is mainly driven by changing cultural trends, growing populations, urbanization, and the growing popularity of beer among the younger lot. For instance, according to a report by an international organization called movendi in june 2019, between 1990 to 2017, the number of alcohol consumption is increased by 0.59 million to 0.69 million and it is expected to reach 0.79 million by the end of the year 2030. This changing trends are expected to continue in this region, which in turn can stimulate the glass bottles and containers market.
|Base Year:||2021||Market Size in 2021:||USD 63.8 Bn|
|Historical Data for:||2017 to 2020||Estimated Year:||2022|
|Forecast Period 2022 to 2030 CAGR:||3.7%||Forecast Period:||2022 to 2030|
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
|Restraints & Challenges:||
Figure 1. Global Glass Packaging Market Value Share (%), By Region, 2021
Rising preferences for the plastic product as a packaging material is projected to restrict the market growth of the glass materials. Moreover, plastic is also preferred among manufacturers due to its lightweight and flexibility properties. Thus, the growing popularity of plastic as a packaging material will negatively impact market growth to some extent.
The growing popularity of borosilicate due to its advantage such as high strength and offer excellent resistance to thermal shock is expected to propel the market growth of glass packaging. Growing demand for food &beverage industry is another major factor expected to augment the market growth. Growing initiatives by the government to promote the use of the eco-friendly product is further expected to foster the market growth of glass packaging.
Figure 2. Global Glass Packaging Market Value Share (%), By Application, 2021
On the basis of application, the alcoholic beverages segment held highest market share of global glass packaging market in 2021. It is expected to be the largest and the fastest growing segment throughout the forecast period. The increasing availability of bottles of various sizes in the retail market and innovation in design & chemical composition that results in reduced weight of glass bottles are some of the major factors expected to further boost the demand for glass packaging of alcoholic beverages during the forecast period.
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.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section