Glass Packaging Market Research, 2032
The global glass packaging market was valued at $45.5 billion in 2020, and is projected to reach $77.5 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.
Glass packaging refers to containers and receptacles made from glass that are used to store and protect various products. These containers can come in the form of bottles, jars, vials, and other shapes designed to hold items such as food & beverage medicines, cosmetics, and more.
An increase in investment and business expansion in the food service industry is expected to create more opportunities for the key market players to develop or launch innovative products in the market to cater to the increase in demand. The key market players in the hospitality sector have increasingly invested in the food service industry to expand the hotel and restaurant business.
Globally, tourism has boosted the hotel and business of restaurant industry and offered a lot of opportunities to the key players in the market. The hotels and restaurants have expanded mostly owing to tourism and since diverse landscapes, cultures, and societies of different countries were very appealing to tourists from other regions. The hotel and restaurant sectors of many nations have gradually expanded over the last two decades which is expected to propel the growth of the glass packaging industry in upcoming years.
Glass Type- Based on Glass Type, the Clear glass segment held the highest market share in 2022, Clear glass allows consumers to see the product within, which is advantageous for different beverages, food products, cosmetic products, and pharmaceuticals. However, the Coloured glass segment is expected to grow at a highest CAGR as it helps protect the contents from degradation caused by UV rays.
In addition, Online retail platform is the major driver for the global market. Currently, numerous retailers have associated or have their own web-based retail stores where consumers can gain information about manufacturers and their products. An increase has been witnessed in the number of online shoppers, owing to the availability of varied product options and price comparison on online shopping sites. This is useful for retailers due to zero expenditure on physical outlets or stores. One of the major reasons behind consumers preferring online shopping online is that they can read reviews provided by other users, and compare various stores, products, and prices by different sellers which is expected to fuel the glass packaging market demand. Furthermore, an increase in e-commerce sales, improvement in logistics services, ease in payment options, and the facility to enter new international markets by major brands significantly contribute toward the glass packaging market growth.
Packaging Type- The Bottles segment held the highest market share in 2022, and is estimated to maintain its leadership status throughout the forecast period. There Glass Packaging Market Size growth is due to rise in preference for sustainable packaging options as environmental awareness increases.
The manufacturers having significant Glass Packaging Market Share are focusing on R&D to offer cost-efficient and durable glass packaging which is the requirement of the customers with the increase in demand for glass packaging. Research and technology are constantly refined and improved through technical innovation, from less durable, but cleaner products to more efficient manufacturing methods. Researchers and designers at organizations work to enhance product features by developing newer, innovative designs, forms, colors, and functionality that encourage customers to buy the products. The ongoing glass packaging market trends are expected to create opportunities for manufacturers in the upcoming years. R&D teams haveperformed various research from raw materials to finished products. They intend to develop sustainable products in the market in the long run. technical innovation in glass packaging manufacturing is expected to create Glass Packaging Market Opportunity for the manufacturers during the glass packaging market forecast.
End user industry- The Food & beverage segment accounted for the largest share in 2022. In the food & beverage segment, glass packaging plays an essential role in gaining a competitive advantage for product manufacturers and retailers who like to differentiate and promote their brands. However, the pharmaceutical segment is expected to grow at a highest CAGR during the forecast period. as glass is inert and non-reactive, making it suitable for storing pharmaceutical products.
The glass packaging market is segmented on the basis of packaging type, glass type, end user industry and region. On the basis of packaging type, the market is categorized into bottles, jars and others. On the basis of glass type, it is bifurcated into clear glass and coloured glass. On the basis of end user industry, it is divided into food & beverage, pharmaceutical, personal care and other. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Region- Asia-Pacific held the highest market share in terms of revenue in 2022. The major drivers of the glass packaging market in the Asia-Pacific region are new and emerging packaging technologies for food packaging and packaging based on eco-friendly materials. Moreover, there is a high demand for new technologies to improve packaging quality and provide better safety and protection to the contained product such as food, cosmetics, and pharmaceuticals. All such factors are anticipated to provide lucrative opportunities for the growth of the glass packaging market. However, LAMEA is expected to grow at a highest CAGR owing to an increase in urbanization, e-retailing, and disposable income in nations such as Argentina, Columbia, and Nigeria, which further fuels the growth of the glass packaging market. Furthermore, one of the largest markets for rigid packaging across the globe is Brazil situated in Latin America.
The major players that operate in the global market have adopted key strategies such as product launch to strengthen their market outreach and sustain the stiff competition in the market.
Competition Analysis
Key companies profiled in the glass packaging market report include Verallia SA, Vidrala, Taiwan Glass Industry Corporation Limited, BA Group, Gerresheimer AG, O-I Glass, Stoelzle Glass Group, PGP Glass Private Limited, Vitro Glass, Ardagh Group S.A.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the glass packaging market analysis from 2020 to 2032 to identify the prevailing glass packaging market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the glass packaging market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global glass packaging market overview, key players, market segments, application areas, and market growth strategies.
Glass Packaging Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 77.5 billion |
 Growth Rate | CAGR of 4.5% |
 Forecast period | 2020 - 2032 |
 Report Pages | 185 |
 By Glass Type |
|
 By End User Industry |
|
 By Packaging Type |
|
 By Region |
|
 Key Market Players | Vitro Glass, Gerresheimer AG, Verallia SA, O-I Glass, Taiwan Glass Industry Corporation Limited, Ardagh Group S.A., Vidrala, PGP Glass Private Limited, Stoelzle Glass Group, BA Group |
Analyst Review
The glass packaging market has witnessed significant growth in the past few years, owing to a surge in major end-user industries such as beveragefood & beverage, personal care product industries, and pharmaceutical industries. The growth in end-user industries is largely attributed to rise in global population and rise in their disposable income. However, relatively lower cost of glass, and its attractiveness, have driven growth of glass packaging solutions.
Contrarily, strict regulations regarding environment deteriorating glass packaging solutions are expected to restrain the market growth. However, this is expected to have a positive impact on the recycled packaging.
Moreover, various developments in the glass packaging industry, such as the launch of new and innovative packaging solutions and geographical expansion are expected to provide lucrative opportunities for the glass packaging market growth?.
The global glass packaging market was valued at $45,505.5 million in 2020, and is projected to reach $77,471.4 million by 2032, registering a CAGR of 4.5%
The forecast period considered for the Glass packaging market is 2023 to 2032, wherein, 2022 is the base year, 2022 is the estimated year, and 2032 is the forecast year.
The latest version of Glass packaging market report can be obtained on demand from the website.
The base year considered in the Glass packaging market report is 2020.
The major players profiled in the Glass packaging market include, Verallia SA, Vidrala, Taiwan Glass Industry Corporation Limited, BA Group, Gerresheimer AG, O-I Glass, Stoelzle Glass Group, PGP Glass Private Limited, Vitro Glass, Ardagh Group S.A.
The top ten market players are selected based on two key attributes - competitive strength and market positioning.
The report contains an exclusive company profile section, where leading companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance, various strategies and recent developments.
By end user industry, the Food and beverage segment was the largest revenue generator in 2020.
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