July 03, 2020
According to the research report titled ‘Global Glass Packaging Market: Analysis By Glass Type, By End User, By Region, By Country (2020 Edition): 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 predicted to expand significantly during 2020-2025.
Growing demand for healthier & safe packaging solutions along with increasing consumption of alcoholic beverages are major factors driving the glass packaging market growth. Other factors such as improving environmental awareness along with rising adoption of glass packaging solutions in pharmaceutical as well as food & beverage industries are further aiding the market expansion.
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The COVID-19 pandemic, however, has led to shutting down of production units and restricted the movement of finished goods. The situation has resulted in economic slowdown, which may negatively affect global glass packaging market outlook.
As per type, the market is classified into type-lll, type-ll and type-l. The report states that type-ll glass packaging market segment is expected to register commendable growth in the forthcoming years, primarily due to increasing utilization of glass packaging in food & beverage sector.
Citing the end-user landscape, the market is bifurcated into pharmaceutical, food & non-alcoholic beverages, alcoholic beverages and others. The alcoholic beverages segment is slated to record considerable growth during the study period. Increasing beer consumption is augmenting the demand for glass packaging solutions.
From the regional frame of reference, worldwide glass packaging market is divided into regions namely, Americas, Europe and Asia-Pacific, with key focus on countries such as Brazil, Mexico, U.S., U.K., France, Germany, India, China and Japan.
According to the report, Asia-Pacific market is anticipated to witness highest CAGR through 2025. Increasing consumption of alcohol and flourishing food & beverage sector are favoring the market scenario in APAC.
Vidrala SA, The Vetropack Group, Piramal Glass Pvt. Ltd., HEINZ-GLAS GmbH & Co. KGaA, Hindustan National Glass & Industries Ltd. (HNGIL), Bormioli Rocco, Owens-Illinois Inc., Ardagh Group, Verallia and Amcor plc are the major participants in global glass packaging industry.