Glass Packaging Market Overview
From generations, glass packaging has been trusted to store food, beverages, and medicines. Glass stays pure, hence, provides sustainable package, which tends to be healthy for the consumer and the environment. Made from natural raw materials such as sand, soda ash, and limestone, glass is impermeable and nonporous, which protects its contents from degradation and tampering. Glass is the only packaging material generally recognized as Safe (GRAS) by Food and Drug Association (FDA) of the U.S. With the GRAS classification, glass containers require no leaching or extraction testing. The FDA requires all other packaging options to predict the amount of migrating foreign substances that will be consumed and sets limits on the amount consumed when products are packaged in anything other than glass. The Glass Packaging market is estimated to grow at a CAGR of 4.65% during the forecast period of 2018–2023. APAC dominates the glass packaging market in terms of revenue with a share of 37% in 2017. The market is foreseen to grow at a CAGR of 6.89% during the forecast period of 2018—2023.
Glass Packaging Market Outlook
The Glass Packaging market has been fragmented into various segments in this report. On the basis of type, the market has been segmented into clear glass, laminated glass, insulated glass and others. On the basis of the different end users wherein these glass packaging are used, the market has been segmented into food industry, non-alcoholic beverages, alcoholic beverages, pharmaceuticals and others. Glass is always preferable as a safe choice to use packaging products as compared to plastics. Plastics can melt, and there are risks of chemical leaking in food, which might lead to enormous number of health problems for the consumers. Glass has an almost zero rate of chemical interactions, which ensures that the product inside the glass bottles will keep their original strength, aroma, and flavor. Due to this, when consumers choose enormous number of products that are packaged in glass, they avoid potential risks and enjoy a number of benefits.
Glass Packaging Market Growth Drivers
The increasing beer consumption in emerging countries of APAC will drive the glass packaging market growth as the product is extensively used for beer bottles. Also, factors such as increasing income levels, influence of western lifestyle, ease of availability, and reduced costs of beer has led to rising consumption of beer in these emerging economies. The countries such as India, South Korea, China, and Thailand have been witnessing significant increase in beer consumption. This increase in beer consumption will positively impact the glass packaging market growth till 2023Glass Packaging Market Challenges
The Glass Packaging market may be hindered owing to the growing popularity of plastics as a packaging material. Some limitations of the product such as brittleness, high cost, and transport related difficulties has led to the adoption of plastics as the preferred packing material in recent years. Also, the global plastic production was more than 330 million tons in 2017 and is likely to increase to more than 380 million tons by 2023. This will impact the Glass Packaging industry negatively as most of the plastic produced in the world are used for packaging purposes.
Glass Packaging Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the types of packaging in the Glass Packaging Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of glass packaging, and their specific applications in the Glass Packaging market.
Glass Packaging Market Report: Industry Coverage
Type of Glass Packaging: Clear Glass, Laminated Glass, Insulated Glass, and others.
End Use Industries of Glass Packaging: Food Industry, Non Alcoholic Beverages, Alcoholic Beverages, Pharmaceuticals, and others.
The Glass Packaging Market report also analyzes the global region for the market. The regions and countries covered in the study include:
- North America (U.S., Canada and Mexico)
- South America (Brazil, Venezuela, Argentina, and others)
- Europe (U.K, Germany, France, Italy, Spain, Russia and others)
- Asia-Pacific (China, India, Japan, South Korea and others)
- Rest of World (Middle East and Africa)
Glass Packaging Market Key Players Perspective
Owens-Illinois is the leading player contributing to 12% of the overall market revenue. The company being a pioneer in glass packaging for various applications has remained as the dominant player. The other leading players to include, Ardagh Group, Verallia AG, Vidrala, Gerresheimer, and Vetropack Group together occupied a share of 15% of the overall market revenue. These players hold a dominant share in the market due to the constant R&D investments and endeavors to discover new products.
Glass Packaging Market Trends
- Going green is a main theme in the packaging market. The environmental-friendly packaging of beverage products has not only become an ethical concern but more of a marketing technique employed by companies to cater to the consumer demand and to build the company image and brand loyalty.
- Thus, factors such as growing concern for the environment, combined with consumer preference for healthy living, is driving the increased trust in glass as the ultimate packaging choice for food and drinks.