Glass Packaging Market – Furthermore, rising consumption of beer across the world is anticipated to strengthen the global glass packaging market growth over the foreseeable period. Increasing demand for functional food and beverages coupled with changing life styles of consumers is anticipated to be the key factor driving the global glass packaging market over the projected period. Increasing environmental concerns across the world is the key factor to promote glass packaging industry over the next five years owing to its eco friendly and recyclable property. Glass material is highly resistant to aqueous and acidic solutions. This property of glass materials found numerous packaging applications in major industries including chemicals, alcohols, liquor & beer and foods & beverages. Growth of these end-use industries is further expected to drive the market over the forecast period. Increasing application scope of glass packaging in pharmaceuticals is expected to open new avenues for the market over the next five years. However, growing awareness towards the cost benefits of plastic packaging is likely to impact glass packaging market growth negatively.
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Beer industry has been the largest application segment for glass packaging over the last decade and the trend is expected to continue over the forecast period. Glass reduces UV rays effect and prevents beers and other alcoholic beverages from spoilage. This property of glass increased the consumption of glass in packaging beer and alcoholic beverages over the past few years. Growth of beer manufacturing industries in regions including Asia Pacific and Europe is anticipated to boost the glass packaging demand in the region. Availability of different flavors of beers coupled with increasing disposable income of consumers is the key driver to boost the demand of beers across the globe. This trend is expected to drive glass packaging market over the next five years.
Alcoholic beverages witnessed to be the second major application segment for glass packaging market followed by foods & beverages. Foods and beverages industry witnessed strong growth over the past few years owing to increasing functional foods and beverages demand. In addition, rising application scope of glass packaging in pharmaceuticals, cosmetics & personal care products, and chemical industries are anticipated to drive the market over the foreseeable period. However, plastic packaging and metal cans may replace the application of glass packaging in major application like cosmetics, perfumes, chemicals and aerosols. These factors are expected to hamper the market growth in near future.
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Asia pacific was the largest regional market for glass packaging owing to increasing consumption of beer in this region. In Asia Pacific, China holds the major market share of beer in terms of consumption. Europe has been witnessing high growth over the past few years on account of increased consumption of beer by young generation in Eastern Europe. North America is anticipated to witness significant growth over the forecast period owing to increasing demand from end-use industries in this region. Countries such as Poland and Norway are expected to witness strong growth over the next five years owing to the fastest growth of beer market in these regions.
Glass Packaging market is highly fragmented in nature with the presence of huge number of small and medium scale companies in this market. Some prominent players present in the market include Amcor Limited, Saint-Gobain S.A., Hindusthan National Glass & Industries Limited, Bormioli Rocco SPA, Owens-Illinois, Inc., Ardagh Group, and Vetropack Holding AG.
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