April 30, 2020
According to the research report titled ‘Global Glass Packaging Market: Analysis By Glass Type, By End User, By Region, By Country: Market Insight, COVID-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report LLC, global glass packaging market was worth USD 50.25 billion in 2019 and is expected to register a significant growth rate during 2020-2025.
Growing demand for healthy and safe packaging practices along with rising environmental concerns are major factors driving the growth of the glass packaging market. The market is expected to further expand owing to increasing consumption of alcohol, in tandem with usage of glass packaging solutions across pharmaceutical and food & beverage industries.
However, emergence of novel COVID-19 pandemic has resulted in global economic slowdown. In addition, the pandemic has limited the movement of finished products and have compelled market majors to close their respective manufacturing facilities, which in turn could hinder the growth of the market.
As per the report, type-II glass packaging market segment is presumed to expand substantially during the forecast period. There has been an upsurge in adoption of type-II glass packaging solutions in the food & beverage industry.
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The glass packaging market share from alcoholic beverages end-user segment is predicted to witness remunerative growth through 2025. Rising intake of alcoholic beverages across the globe is fueling the demand of glass packaging solutions.
Considering the geographical landscape, Asia-Pacific glass packaging industry is poised to acquire noticeable returns in the subsequent years, primarily due to growing demand for food products and beverages as well as alcoholic beverages in the region.
The major contenders in global glass packaging market are Vidrala, Vetropak, Piramal Glass, Heinz-glas, HNGIL, Bormioli, Owens Illinois, Ardagh Group, Verallia and Amcor Ltd.