Global Glass Packaging Market: Overview
Glass packaging incorporates jars and bottles, which contain different fluid and solid substances. These are fixed with plastic or metallic corks or lids and caps. Glass is utilized to package non-alcoholic and alcoholic beverages, pharmaceuticals, chemicals, and food. Glass jars and bottles are accessible in different colors, sizes, and shapes. This fits the application wherein they are utilized. Different applications incorporate use of glass bottles in beauty care products, for instance, fragrances and nail paints, and for chemical storage. A significant rise in the worldwide utilization of beer and other alcoholic products is anticipated to be triggering factors for the growth of the global glass packaging market. Development of the healthcare industry and high use of glass bottles for pharmaceuticals storage because of its reusability and sterility is likewise expected to build up the demand for glass packaging throughout the following couple of years. In any case, rising prominence of plastics and its expanding extent of use for packaging are probably going to hamper the progress of the market. However, customer inclination towards glass being used for packaging is anticipated to provide lucrative opportunities to the market players in the near future.
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The global market for glass packaging is anticipated to witness 4.6% CAGR from 2014 to 2020. The market is expected to reach a valuation of US$ 55.24 bn by the end of 2020 rising from US$40.32 bn in 2013.
Demand for Alcoholic Beverages Gaining Pace making it Market Leader in Use
Alcohol beverages (barring brew) was the leading application section of glass packaging, representing more than 40% share of the worldwide market regarding volume in 2013. This segment is anticipated to witness the swift development amid the conjecture time frame, trailed by beer, because of the growing intake of these beverages. Market progression of glass packaging for alcoholic beverages (barring brew) and brew regularly exchange attributable to altering patterns in intake of beverages. Beer storage in glass bottles expands the shelf life of the drink and glass also decreases the impact of UV rays. Pharmaceuticals are expected to display better than expected demand for glass packaging in the following couple of years.
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Asia Pacific to Display Leading Demand
In 2013, Asia Pacific represented the leading demand for glass packaging. The region is relied upon to witness swift development in the following couple of years. As far as income, the glass packaging market in Asia Pacific is expected to grow at 5.3% CAGR in the vicinity of 2014 and 2020. Ascend in discretionary income of customers combined with the impact of western esteems has expanded the utilization of beer. This is anticipated to boost the demand for glass packaging in the region. Besides, the demand for glass packaging is probably going to rise fundamentally in emerging nations such as South Africa because of expanding consumption of alcoholic beverages.
The global market for glass packaging is governed by companies such as Vidrala SA, Vetropack Holdings AG, Gerresheimer AG, Ardagh Group, Saint-Gobain S.A., and Owns-Illinois Inc.
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