Europe Glass Packaging Market Business Growth Drivers and Restraints Created by COVID-19 Outbreak | Finds Fortune Business Insights™
The Europe glass packagingmarket is likely to rise prominently in the coming years on account of theincreasing use of glass bottles for packaging food and beverage products. Glasspackaging is considered safe for consumers and has been used for food andbeverage products for a long time. A recent report by Fortune BusinessInsights, titled, “Europe Glass Packaging Market Size, Share & COVID-19 Impact Analysis, By End-useIndustry (Skin/Personal Care, Fragrance, Food, Beverages (Alcoholic beverages,Non-Alcoholic beverages}, Pharmaceuticals and others), and Regional Forecast,2020-2027,” states that the value of thismarket was USD 19.24 billion in 2019 and will rise at a CAGRof 4.38% to reach USD 22.01 billion by theend of 2027.
Due to the current COVID-19 pandemic,most industries are facing heavy losses. The world economy is fluctuating withmost businesses at a temporary halt. The lockdown period imposed by variousgovernments to prevent coronavirus is still a temporary measure, impacting mostof the industries. The healthcare sector is also not able to suffice to theneeds of the increasing number of corona positive cases.
Fortune Business Insights is offeringspecial reports on various markets impacted by the COVID-19 pandemic. Thesereports are based on analysis of the current situation and their impact onvarious markets that will help financers accordingly chalk outrevenue-generating strategies in the coming years.
The report answers the following questions:
- What is the competitive nature of this market?
- Who are the key players of the market for Europe glass packaging and what are their key strategies?
- Which are the key end-users present in the market?
- What are the major industry developments of this market?
Drivers & Restraints-
Growing Popularity of Bottled Beverages to Add Impetus to Market
The increasing demand for glasspackaging from the food and beverage sector is a key factor boosting the Europeglass packaging market growth. Most of the alcoholic and non-alcoholicbeverages such as milk, beer, sauces, juices, and others are packed in glasscontainers and bottles as glass helps to maintain the authenticity of theproduct stored in it without disrupting the taste or smell. Additionally, theincreasing awareness about health and fitness and the rising inclination ofpeople towards healthy food and drinks are expected to aid in the expansion ofthe market in the coming years.
On the contrary, the presence ofsubstitutes such as plastic, paper and board, and metal packaging may hamperthe market growth in the coming years. The increasing popularity of metal cansis likely to cause major hindrance to the market. Nevertheless, the risingawareness about environment-friendly products is propelling the use ofsustainable and eco-friendly packaging, thereby creating lucrative growthopportunities for the market in the near future.
Segmentation:
Beverages Segment to Cover Largest Share in the Coming Years
With respect to segmentation by end-useindustries, the beverage segment earned 73.18% Europe glass packaging marketshare in 2019 and emerged dominant. The beer industry holds the major share,contributing to maximum shares in the beverage sector. Food industry, on theother hand, holds the second largest share.
Regional Analysis:
West European Nations hold Highest Share Owing to Increasing Inclinationtowards Environment-friendly Products
Nation wise, the western nations suchas the United Kingdom, France, Germany, and Italy are holding more than 55%share and held the largest market share in 2019. They are further expected tocontinue doing so in the coming years owing to the rising inclination towardsenvironment-friendly packaging products.
Competitive Landscape:
Vendors are Engaging in Joint Ventures to Gain Competitive Edge
The competitive landscape of the marketfor Europe glass packaging is bestowed by many players. Most of them areengaging in joint ventures and other collaborative agreements to holdsignificant position in the market competition. The others are investing instrengthening their portfolio by expanding to other nations such as Portugaland Spain.
Some Industry Developments of theMarket include:
October 2019 – Renovation of clear-glass furnace was successfullycompleted by Gerresheimer AG. It installed a new and improved technology in thefactory will help to reduce the energy needs and multiply the overall glassproduction capacity for its consumers in the healthcare and pharmaceuticalindustry.
List of the Leading Companies Operating in the Europe Glass Packaging MarketInclude:
- Ardagh Group S.A.
- Steklarna Hrastnik, d. o. o.
- Bruni Glass
- Groupe Pochet
- Vetropack Group
- Gerresheimer AG
- HEINZ-GLAS GmbH & Co. KGaA
- Verallia
- Bormioli Luigi SpA
- Stolzle-Oberglas GmbH
- Others
Browse Detailed Research Insights withTOC:
https://www.fortunebusinessinsights.com/europe-glass-packaging-market-103472
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome the impact
- Potential Opportunities due to COVID-19 Outbreak
TOCContinued…!!!
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