Global Glass Packaging Market for Food & Beverages: Snapshot
The global Glass Packaging Market for Food and Beverages is forecast to expect high growth projections birthing with the multiple use of the glass packaging in the personal care sector, food and beverages, pharmaceuticals, and medical supplies sector. The escalating consumption of alcoholic drinks such as beer could projected to fuel the demand of the glass packaging market in near future. Furthermore, high consumption of beer in developing countries could drive the demand for global market for glass packaging for food and beverages.
On the other hand, the pharmaceutical companies is likely to propel the demand for glass packaging market in coming years. Whereas, the cosmetic industry have also exhibited the high demand for the glass packaging for the packaging of perfumes, nail paints, and other beauty product has also influence the market growth in near future. In contrast, the presence of substitute such as plastic will restrain the growth of the global glass packaging market. However, the government initiative to curtail the use of the plastic for various environmental concern is another opportunity to help in overcoming this restraint. Additionally, the effectiveness for preserving the product kept inside the glass packaging material could likely to fuel the demand in near future. Depending on this aspect the global market for glass packaging is projected to witness significant growth in demand.
The global glass packaging market is likely to register 4.6% CAGR from the period between 2014 till 2020. This market is anticipated to touch a valuation of US$ 55.24 bn by 2020 end escalating from US$40.32 bn in 2013.
Escalating consumption of alcoholic beverages drives global glass packaging market
The report segregates the global market for glass packaging for food and beverages on the basis of application. Out of all the application segments, alcoholic beverages could be the leading application segment in terms of substantial revenue contribution to the global market. This segment is likely to witness growth due to rising intake of beer in global market, which ultimately drives the demand of the global glass packaging market in coming years. Also, the storage of beer increase the life span of the drink and also protect from harmful UV rays are another factor propelling the demand of the product over the coming years. Moreover, development of healthcare sector for pharmaceutical storage due to its reusability and sterility are another factor boosting the glass packaging market at global level. Also, consumer inclination toward food packaging for more durability is projected to provide lucrative opportunities for the new entrants and the key players in coming years.
Asia Pacific dominates global glass market in terms of consumption of Beer
Increase in discretionary income of consumers along with that the Impact of western esteems has expanded the consumption of beer, this could be another factor driving the demand of the global market for glass packaging in this region. Rise in take of the beer consumption in country like South Africa could also significantly drives the demand for the glass packaging market in the coming years.
Some of the leading operator in the global market for glass packaging includes Saint-Gobain S.A., Vetropack Holdings AG, Owns-Illinois Inc. and Vidrala SA.
- Alcoholic beverages (excluding beer)
- Food & beverages
- Others (Including personal care products and chemicals)
- North America
- Asia Pacific
- Rest of the World