Transparency Market Research offers a comprehensive outlook of the global container glass market in its latest research report. In terms of revenue, the global container glass market is estimated to expand at a CAGR of 5% during the forecast period. TMR focuses on the various drivers and restraints in the market that are expected to define the trajectory of this market in the coming days.
According to the report, the market will be driven by growing awareness about using eco-friendly materials for packaging as landfills continue to overflow with plastic. This has led to growing adoption of container glass in packaging of consumer goods, pharmaceuticals, and several items belonging to the food and beverages industry.
On the basis of end use, the global container glass market is segmented into packaging, beverage packaging, cosmetic and perfumery, pharmaceuticals, and others. TMR anticipates that the food and beverage industry will lead the market as the sales of sauces, condiments, and drinks both alcoholic and nonalcoholic continue to soar. As an essential, the demand for packaged food and beverages will drive the revenue for container glass at an exponential rate throughout the forecast period.
The pharmaceutical industry to is projected to be a key consumer of container glass as syrups and wide range of medicines are preferably stored in glass bottles. As race to develop and commercialize COVID-19 vaccine intensifies, labs are expected to show a high demand for vials, which use container glass. Thus, the market stands to benefit as pharmaceutical industry stays ahead to find a cure for the pandemic.
Global Container Glass Market Dynamics
The demand for container glass is expected to surge in the coming years as packaging solutions witness a paradigm shift with sustainability awareness. From mason jars to bottles, the demand for container glass will be felt strongly in the food and beverage industry. Increasing number of restaurants and soaring demand for alcoholic and nonalcoholic beverages are expected to lead this market to new heights of success.
Global Container Glass Market: Region-wise Analysis
Asia Pacific dominates the current global container glass market and is expected to continue its dominance in terms of both revenue generation and CAGR. India and China are anticipated to create significant opportunities as the countries continue to manufacturing hubs. Thus, Asia Pacific is expected to hold a significant share during the forecast period. Furthermore, strong product innovation among manufacturers with new designs and quality material are expected to boost the market during the forecast period.
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Container Glass Market: Key Players
Some of the key players operating in the global container glass market are Gerresheimer AG, Owens-Illinois, Inc., Hindusthan National Glass Industries Limited, Nipro Corporation, Vidrala S.A., Vitro, S.A.B. de C.V., Nampak Ltd, Becton, Dickinson and Company, Consol Glass (Pty) Ltd, Saverglass Group, BA Glass, Adelphi Healthcare Packaging, Wiegand-Glas GmbH, and Schott AG
Container Glass Emerges as Essential Material for Packaging Alcoholic Beverages
Container glass has a huge opportunity in bottling of alcoholic beverages. The unprecedented sale alcoholic beverages across the globe has given this market a lucrative chance to build a steady revenue stream.
The nature of glass to remain impermeable to CO2 and O2 makes it an obvious choice for storing alcohol. Furthermore, plastic bottles tend of warp pasteurization, while glass bottles keep the contents intact. Plastic also tends to leach if alcohol is stored in it for a longer duration. This compromises the shelf life of the drink impacting sales and safety.
In recent years, the rise of food and beverage industry has upped the demand for alcohol, which has encouraged the container glass market to keep up. Analysts also point out that mushrooming breweries across the globe have had a positive impact on the demand for container glass as it ideal choice for microbrewers to store alcohol.
Increasing sale of wine has also been a prominent reason for the container glass market to flourish in recent years. Wine makers across the globe are opting for container glass for storing wines as they prevent the product from oxidation. Thus, high consumption of wine will have a positive influence on the overall market, predicts FMI.
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Uptake of Cosmetics for Better Skincare Prompts Sales
Creams, lotions, and perfumes are typically packaged in bottles and containers of glass for increasing the aesthetic appeal. The use of container bottles is especially high in the cosmetic industry as it adds to the product’s value.
Compatibility of glass with product contents is projected bode well for the market in the coming years. Eco-friendly nature of glass has remained its consistent selling point in recent years as buyers are focused on making sustainable choices. Furthermore, perfumes have traditionally been packed in glass bottles, which has been a steady source of revenue for the market.
Analysts at Future Market Insights predict that demand for cosmetics, driven by rise of influencers dictating the beauty norms, will encourage sale of container glass for packaging of a wide range of cosmetics.
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