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Glass Packaging Market
Glass Packaging Market
Coca Cola recently announced a ‘World Without Waste’ campaign and accepted accountability for increase in the amount of plastic litter globally

Glass Packaging Market Overview:

Modern day lifestyles have altered our consumption patterns, and the beverage industry is leveraging this trend. Compactness and mobility in terms of packaging of products are the lucrative characteristics being offered by the modern brewing sector to construct additional opportunities of revenue. As per the Kirin Beer University, global beer consumption in 2017 was estimated to be 186.72 million kiloliters. In terms of revenue earned by non-alcoholic beverages, PepsiCo reported an annual revenue of $63.5 billion in the same year. Increasing beverage consumption has generated demand for efficient packaging trends with provisions for longer shelf life, aroma retention, heat insulation, sealing and barrier against moisture. Such demands have driven the glass packaging market size to a staggering $51 billion in 2018. Beverages is an application segment under the glass packaging market, which also sees application across industries including food, pharmaceuticals, and cosmetics with eco-friendly, recyclable and sustainable products. Ban on plastic globally is shifting packaging demand towards glass, with demand growing at a global CAGR of 4.7% during the forecast period of 2019-2025.

Glass Packaging Market Outlook:

The APAC region is estimated to be the leading region with 37% share of the global glass packaging market in 2018. Further analysis of imports and exports of glass products and consumption of beverages indicates several factors in support of APAC’s dominance in the global glass packaging market.

· India is the leading importer of limestone, a chief raw material employed in manufacturing glass bottles.

· In 2017, China lead globally in terms of exports of glass bottles and containers for packaging and conveyance goods with export values amounting to $1.7 billion and $1.67 billion respectively.

· Asia retained its monopoly in beer consumption for the tenth consecutive year in 2017, and garnered 33.7% share in the global beer market.

· According to the India Brand Equity Foundation (IBEF), India is estimated to be among Coca-Cola’s top three markets in terms of volumes, by 2021. It occupied the sixth spot in 2018 and is targeted to be fifth by the end of 2019.

With the beverages industry being the dominant employer of glass packaging, alcoholic beverages is identified to be the fastest growing application segment, progressing at a CAGR of 6.9% going through 2025. With alcohol consumption escalating year on year and novel entrants such as craft beer disrupting the market, alcoholic beverages will sustain their dominance in the glass packaging market share.

Glass Packaging Market Growth Drivers:

Glass to Substitute the Enormous Plastic Empire-

Implementation of stringent bans on the use of plastic by countries worldwide is a major factor diverting substantial traffic from plastic packaging towards the eco-friendly and recyclable glass packaging market. As per the Plastic Oceans Organization, more than eight million tons of plastic are dumped into the oceans every year and owing to such alarming circumstances, the U.N. launched the #CleanSeas campaign to eliminate marine litter by 2022. With plastics being eradicated due to ecological concerns, glass packaging remains the primary option due to its recyclable properties. Furthermore, glass is resistant and non-porous; thus it cannot contaminate the product packed inside it. This is increasing its application in the cosmetic packaging market and pharmaceutical packaging market.

Glass Packaging Market Trends:

Glass Packaging Supplementing Organic Culture-

· Organic product vendors are shifting from plastic packaging to glass packaging since the entire unique selling point (USP) of organics can be overshadowed by application of environmentally hazardous plastics for packaging. For instance, organic dairy producers are witnessing demand from organically-inclined customers for glass bottles that can be reused, refilled and recycled. Similarly, in the cosmetics industry, the trend of organic products is leading to increased demand for glass packaging.

· Coca Cola recently announced a ‘World Without Waste’ campaign and accepted accountability for increase in the amount of plastic litter globally. The company which markets about 500 brands of beverages, is anticipated to switch to glass and cans or cardboards by 2020. This trend is being followed by several vendors and even enforced by governments globally. The glass packaging market is bound to flourish since its products are an eco-friendly and recyclable option.

Glass Packaging Market Companies:

Some key players operating in the global glass packaging market are Saint-Gobain S.A, Owens-Illinois, Bormioli Rocco SPA, Schott AG, Heinz Glass, Ardagh Group SA, Vidrala, Gerresheimer AGVetropack Group, Orora Packaging Australia Pty Ltd, Hindusthan National Glass & Industries Limited, and Amcor Limited.

 

Glass Packaging Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Glass Packaging Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various types of trends in global Glass Packaging Market, and their specific advantages to the market.

The Glass Packaging Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

•           North America: The U.S., Canada, Mexico

•           South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

•           Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark

•           APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

•           Middle East and Africa: Israel, South Africa, Saudi Arabia