The global glass container market will exhibit 2.1% Y-o-Y growth in 2021, after contracting in 2020 due to disruptions caused by unprecedented COVID-19 outbreak. According to a new study by Future Market Insights (FMI), the near-term opportunities for the market will remain positive, especially as application in beverages packaging continues surging. The report also projected to market to surpass a valuation of US$ 81 Bn through 2031.
Glass container sales are strongly influenced by demand in the alcoholic beverage industry since a majority of alcoholic beverages are filled in glass containers. Due to the aesthetic appearance that can be accomplished by the use of glass in manufacturing of containers and its reflective design, sales within alcoholic beverages segment is poised to surge considerably. Glass containers also enable the alcohol manufacturer to present the premium quality of the product to their target consumers.
Increasingly used as a versatile material in manufacturing of containers, glass can retain the original flavour of beverage inside without altering its taste or consistency. Glass containers are available on the market in a range of colours, shapes and sizes. It has been reported that about 23% of Anchor Glass Container Corp’s revenue, a major player in glass container manufacturing, comes from its product sales of craft beer glass packaging and 24% from mass-market beer glass packaging.
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Key Takeaways of Glass Containers Market Study
Outlook for glass containers market remains strong for the next 10 years as FMI forecasts it to register 4.0% CAGR between 2021 and 2031
Sales of glass containers in the U.S. are estimated to rise. The U.S. is projected to account for over 80% of glass containers sold in North America as growth outlook remains positive for the remaining forecast period
Despite Germany’s dominance, growth exhibited by the UK market will be stronger. It is expected to register a 1.9% Y-o-Y growth in 2021
Outlook for France and Spain will remain stable
China, India, and Japan will continue exhibiting high demand for glass containers through the forecast period
“Glass containers in the brewing and beverage industries have long evolved from being simple transport containers. End users insist on innovative and trendy glass containers to boost the supply chain instead of simplistic design to encourage shoppers. Demand for small sized jars and bottles, glass containers are occupying significant share in the global market attributing to boost impulse purchase of the products. In addition, key players in the distribution of beverage packages are projected to witness greater profit earnings.” says an FMI analyst.
Sustainability and Reusability of Glass Containers Boosting their Applications
Glass containers are increasingly preferred for handling drinks, food, and prescribed drugs since they eliminate the risk of leaching toxic chemicals. Glass is a highly recyclable medium and has features that make it a highly desirable material for containers.
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Many environmental resources are protected by recycling and reuse. A glass container’s ability to maintain the strength, fragrance, and seasoning of items makes it a desirable choice for food and beverage packaging.
Glass, through interaction with several liquids, remains chemically pure and is therefore preferred for use in food and beverage packaging. Rising focus on environmental sustainability and curbing carbon dioxide emission has catapulted glass containers as preferred choice to replace plastic or metal containers.
COVID-19 Impact on Glass Containers Market
The COVID-19 pandemic has affected the packaging industry owing to the instabilities in the supply chain. While businesses across food and beverages sector reported sluggish growth, pharmaceutical industry continues exhibiting demand for effective packaging amid pandemic crisis.
Consequently, the market for glass containers have seen a decrease in revenue in Q1 and Q2 of 2020. This is partly due to government restrictions imposed on manufacturing industries and outlets that serve food & beverages to contain the spread of the virus.
However, as the sanitization process and non-contaminated beverage systems have improved, beverage intake is slowly rising in developed and emerging countries. This move is anticipated to accelerate more glass container shipments to the global market by the end of the year 2020. Industries such as retail packaging, e-commerce and logistics are also expected to see a fast turnaround.
Glass Containers Market Landscape
Ardagh Group S.A., Amcor Limited, Consol Glass (Pty) Ltd., Owens-Illinois, Inc., Saverglass Group, BA Glass, Hindusthan National Glass & Industries Limited, Nampak Ltd., Wiegand-Glas GmbH, Vidrala S.A. are prominent players in the glass containers market. With competition within the market getting fiercer, companies are focusing on innovative product launches.
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For instance:
AGI glaspac has launched a range of integrated antibacterial food glass jars through its retail segment Greendrop Glassware in June 2020.
Ardagh Group launched online and interactive 3D glass packaging catalogue in the later part of 2020.
Key segments
Product Type
- Glass Bottle
- Glass Jar
- Glass Vial
- Candle Glass Container
Color
- Amber Glass Container
- Blue Glass Container
- Clear Glass Container
- Frosted Glass Container
- Other Coloured Glass Container
End-Use Industry
- Cosmetics & Perfumes
- Pharmaceuticals
- Food Packaging
- Beverage Packaging
- Other Products
Region
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
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Future Market Insights (ESOMAR certified 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.
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