The global glass container market is expected to grow at a CAGR of 5.2% from 2023 to 2033. The growth of the market is attributed to the increasing demand for glass containers in the beverage packaging, food & personal care, and pharmaceutical industries. Glass containers are inert and non-reactive, making them ideal for storing food and beverages. They are also recyclable and sustainable, which is driving their demand in the packaging industry.
The market for glass containers is anticipated to reach a valuation of US$ 61.5 billion in 2023 and US$ 102.5 billion by 2033. During the projection period, a CAGR of 5.2% is expected in the market.
Take Action: Gain Valuable Insights into the Rising Investments and Market Growth of Glass Container – Download Our Sample Report Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-935
The beverage packaging segment is expected to be the largest market for glass containers. The growth of this segment is driven by the increasing demand for alcoholic beverages, juices, and soft drinks. The food & personal care segment is also expected to grow at a significant rate due to the increasing demand for glass containers for storing food, cosmetics, and toiletries.
The Asia Pacific region is expected to be the fastest-growing market for glass containers. The growth of the market in this region is attributed to rising disposable income, increasing urbanization, and growing consumer preference for aesthetic packaging.
Here are some of the key trends in the glass container market:
- Increasing demand for sustainable packaging
- Growing popularity of glass bottles for alcoholic beverages
- Rising demand for glass containers in the food & personal care industry
- Technological advancements in glass manufacturing
- Expansion of glass container production capacity
The glass container market is a dynamic and competitive market. The key players are constantly innovating and introducing new products to meet the changing demands of the customers. The market is expected to witness significant growth in the coming years.
The following are some market-influencing factors:
- The demand for glass containers is increasing as a result of urbanization, rising disposable income, and aesthetic preferences among customers.
- Glass containers are becoming more popular as people desire more luxurious aesthetics, eye-catching settings, and home décor.
- The market is expanding as a result of the end-users significant increase in demand for glass containers for candle jars and light dazzling bottles.
- The need for glass containers among consumers to preserve food products like pickles, sauces, and other components to improve their quality is a major driver of market expansion.
- Manufacturers of food and beverages are using more glass containers to package their products transparently.
Market opportunities are being fueled by increasing key marketers and expanding design container trends. - Glass bottle sales for milk are becoming more popular among dairy owners, and the market for associated products is growing.
- The market opportunities are being driven by the expansion of low-cost labor, investment, and R&D activities.
Get In Touch With Our Team For a 20% Flat Discount
This market is expected to gain momentum in the upcoming future, as demand for the luxury packaging market is gaining importance across the world.
With US estimated to remain as one of the most lucrative markets throughout the course of the forecast period, Asian countries like China will drive the market in the projected years. Due to the COVID-19 outbreak there have been an increase in demand for medical equipment’s and glass made items like ampoules, vials, bottles, and others in China. The demand increases with the surge in the number of COVID-19 cases. Besides that, many factors like the increase in consumption of alcoholic beverages is expected to fuel the market growth further.
“The need for establishing production lines with advanced systems so as to respond to increasing requests for customization with high efficiency and small lead time have left profound impact on the market. These efforts have been historically crucial in fuelling the demand for glass container.” Remarks Future Market Insights analysts.
Key Takeaways from Future Market Insights’ Glass containers market study
By product type, lightweight bottles will be highly preferred by industries and customers alike, owing to the change in behaviour pattern in consumers and rising environmental concerns
- As glass is chemically inert, demand for pure, green and sustainable packaging is driving sales of glass containers.
- US to be a lucrative market, owing to its increase in alcohol, malt beverage and juice consumption by its people.
- Germany is expected to remain one of the highly valuable market for glass containers, because the distribution of alcohol consumption is heavily concentrated in the country.
- France to show a significant rise in sales due to the demand of luxury packaging items for cosmetics industry.
- UK to show a steady Y-o-Y growth as glass accounts for a major share of soft drink packaging.
Glass containers market: prominent drivers
- Increase in the rise of the beverage and luxury items industry, which is steering the growth of glass containers market.
- Rising healthcare spending will create lucrative opportunities and provide a significant ground for the proliferation of glass manufacturers across key regions.
- Glass bottles are estimated to dominate the market, according to product type, due to the packaging demand from the beverage industry.
- Amber glass containers are expected to gain popularity due to its protection against the UV rays
- Vendors are focusing on environmental sustainability concerns, which will increase the demand of lightweight packaging, thereby minimizing the use of raw materials and the expense of logistics.
Glass containers market: Key restraints
- Reluctance of the consumers to dine out due to the pandemic fear still continues to pose as a problem in the industry’s growth from the food and beverage section.
- Glass, being brittle in nature, faces the risk of getting broken during the shipment of these items, which makes it unfavourable to be transported over long distances, as compared to the plastic containers.
- Glass is also more dangerous when broken as compared to other packaging material. Broken glass can cut a person’s skin and can at times, also be life threatening. This is a danger that is very true for those working in factories, shops and even transportation and packaging operative who are responsible in handling them.
Request a 200-page sample to gain a comprehensive insight and deeper understanding of the market@ https://www.futuremarketinsights.com/ask-question/rep-gb-935
Competitive Insights
There is a preference for glass containers over metal and plastic ones due to rising environmental concerns. This surge in demands will create the entries of new companies into this sector and the key market players are projected to continue their expansion during the years 2021-2031
Glass Container Market Segmentation by Category:
By Product Type:
- Glass Bottle
- Glass Jar
- Glass Vial
- Candle Glass Container
By Color:
- Amber Glass Container
- Blue Glass Container
- Clear Glass Container
- Frosted Glass Container
- Other Colored Glass Container
By End-use Industry:
- Cosmetic & Perfumes
- Pharmaceuticals
- Food Packaging
- Beverage Packaging
- Other Products
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse the latest Market Reports: https://www.futuremarketinsights.com/reports