July 19, 2021
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 slated to grow momentously through 2025.
Surging demand for hygienic and safe packaging, increasing environmental concerns, and rising consumption of alcoholic beverages are propelling the global glass packaging market. Moreover, soaring demand from pharmaceutical and food & beverage verticals are also catalyzing the industry scenario.
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On the contrary, shutting down of production facilities, economic slowdown as well as restrictions on the movement of finished products owing to the COVID-19 pandemic are likely to hamper the market growth graph during the stipulated timeframe.
Based on glass type, the industry space is bifurcated into type III, type II and type I. The type II segment has been gaining traction recently and is slated to continue the same trend in the ensuing years, accredited to demand for glass packaging from food & beverage sector.
In terms of end user terrain, worldwide glass packaging market is classified into pharmaceuticals, food & non-alcoholic beverages, alcoholic beverages, and others. The alcoholic beverages segment witnessed strong growth in the recent past and is poised to grow further, creditable to soaring beer consumption.
From regional frame of reference, Asia Pacific market is anticipated to showcase immense growth over the projected timeframe 2020-2025, creditable to surging sales of food & beverage products and huge demand for alcoholic beverages.
Lastly, the competitive hierarchy of the global glass packaging industry is defined by companies such as Verallia Packaging S.A.S., O-I Glass Inc., Piramal Glass Limited, Ardagh Group, Hindustan National Glass & Industries Limited, Amcor plc, Vidrala S.A., HEINZ-GLAS Group, Vetropack Holding AG, and Bormioli Rocco among others.