Growing demand of food and beverage and personal care and grooming industries is expected to fuel the glass packaging market growth.
Westford, USA, Dec. 06, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the global glass packaging market will attain a value of USD 81.74 Billion by 2031, with a CAGR of 4.5% during the forecast period (2024-2031). The glass packaging market in Japan, South Korea, and Singapore is driven by increasing demand for sustainable and premium packaging solutions. In Japan, the market is supported by the beverage, cosmetics, and pharmaceutical sectors, with a focus on eco-friendly packaging and high-end alcoholic beverages. South Korea sees growth from cosmetics, skincare, and traditional beverages like soju, along with strong sustainability efforts. Singapore, a trade hub, benefits from demand in food, beverages, and luxury goods, while government initiatives focus on recycling and sustainability. Overall, these regions are embracing glass packaging due to environmental awareness, regulatory support, and consumer preference for premium, sustainable options.
The glass packaging has been preferred by many because of its outstanding qualities like purity, recyclability, and preservation of product integrity. Many leading companies in the sector have started developing comprehensive manufacturing competencies and distribution network. This enables them to serve various sectors like food and beverages, cosmetics, pharmaceuticals, and more. In the last few years, there has been a considerable increase in the demand for glass packaging in the pharmaceutical and cosmetics sectors.
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Glass Packaging Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 57.48 Billion |
| Estimated Value by 2031 | USD 81.74 Billion |
| Growth Rate | Poised to grow at a CAGR of 4.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Material, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa |
| Report Highlights | Increasing popularity of recycling glasses for adopting sustainability |
| Key Market Opportunities | Increasing demand for glass packaging in healthcare and cosmetics sector |
| Key Market Drivers | Growing advancement in glass packaging materials |
Better Transparency of Containers to Increase Demand for Vials in Pharmaceutical Sector
Based on products, the vials are dominating with the largest glass packaging market share. This segment in the market is increasing rapidly because glass vials have better transparency, which helps to easily view and monitor the contents inside it. Furthermore, vials are generally used in the pharmaceutical sector so that it becomes easy for the physicians to see the contents inside for testing. These products are also used in cosmetics and food industries. Moreover, rise in regulations in the food packaging centers is an important driver that is increasing the demand for vials in the food and beverage industry.
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Increasing Usage of Glass Packaging in Alcoholic Beverages to Increase its Popularity in Food & Beverage Sector
As per glass packaging market analysis, food & beverage segment is dominating. This segment will continue to maintain its dominance during the forecast period because of the increasing consumption of glass packaging for alcoholic beverages. Many organizations are focusing on using glass materials to maintain the aesthetics of the bottles. In the last few years, glass packaging has become a popular choice by many companies for packaging wine, beer, spirits, and juices. This is because an excessive light exposure can degrade the flavor, aroma, and appearance of many beverages, particularly the ones sensitive to light. Furthermore, the dark-colored glasses like amber or green is mostly used to provide protection from sunlight.
High Consumption of Alcoholic Beverages to Drive Market Growth in North America
North America is dominating the glass packaging industry due to advancement in the medical care facilities. Furthermore, the increasing consumption of alcoholic beverages in the region is significantly boosting the development of glass packaging market in the region. The increasing adoption of advanced technology for advanced glass packaging is another vital factor responsible for the market growth. Moreover, the increasing healthcare expenses in the region is also increasing the demand for advanced hygienic devices or containers for healthcare center usage. This is fueling the growth of the glass packaging market in North America.
In the Asia-Pacific region, the growing demand for sustainable and eco-friendly packaging solutions is driving market expansion, as glass is fully recyclable and reduces environmental impact. The growth of industries such as food, beverage, and pharmaceuticals is also increasing the need for high-quality, safe, and durable glass packaging. Furthermore, innovative packaging designs and technologies that enhance the aesthetic appeal of glass products are further stimulating market growth in the region.
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Glass Packaging Market Insights
Driver
- Increasing demand for premium packaging.
- Growing advancement in glass packaging materials.
- Increasing demand for glass packaging in healthcare and cosmetics sector.
Restraints
- Higher maintenance and operational expenses.
- Increasing adoption of substitute products.
- Regulatory pressure and environmental impact.
Key Players Operating in Glass Packaging Market
- Piramal Glass Pvt. Ltd.
- Owens-Illinois Inc.
- WestPack LLC
- Gerresheimer AG
- Hindustan National Glass & Industries Ltd.
- Ardagh Group
- HEINZ-GLAS GmbH & Co. KGaA
- Agrado SA
- SGD SA (SGD Pharma)
- AAPL Solutions Pvt. Ltd.
Key Questions Answered in Glass Packaging Market
- What is the CAGR value of the market?
- What are primary restraints hampering growth of the market?
- Which region is dominating the market?
This report provides the following insights:
Analysis of key drivers (increasing demand for premium packaging, growing advancement in glass packaging materials), restraints (higher maintenance and operational expenses, increasing adoption of substitute products), opportunities (increasing demand for glass packaging in healthcare and cosmetics sector), and challenges (regulatory pressure and environmental impact) influencing the growth of glass packaging market
- Market Penetration: Comprehensive information on the product offered by the top players in the glass packaging market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the glass packaging market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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