Glass packaging market projected to reach $77,471.4 million globally by 2032 at 4.5% CAGR: Allied Market Research

Increasing focus on environmental sustainability is driving the growth of the glass packaging market. Additionally, rising concerns of various end-user industries to maintain product integrity is driving the market growth.

WILMINGTON, Del., February 23, 2024 (Globe Newswire) — Allied Market Research has published a report titled: “Glass packaging market” by Packaging types (bottles, jars, etc.), glass types (transparent glass, colored glass), end-user industry (food) and Beverages, Pharmaceuticals, Personal Care, Others): Global Opportunity Analysis and Industry Forecasts, 2023-2032.” According to the report, the global glass packaging market was valued at $45,555.0 million in 2020 and is projected to reach $77,471.4 million by 2032, registering a CAGR of 4.5% from 2023 to 2032. ing.

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Key determinants of growth

Rising demand for packaging in the food & beverage, cosmetics & personal care products industries is driving the growth of the glass packaging market. Additionally, packaging needs in various industries due to increasing e-commerce and trade are also driving the market. However, the variable cost of raw materials limits the market growth.

Report scope and details:

The bottle is divided into: maintain Leadership position over the forecast period

Based on packaging type, the bottle segment held the highest market share in 2020, accounting for more than half of the glass packaging market revenue and is estimated to maintain its leadership position throughout the forecast period. With increasing environmental awareness, there is a growing preference for sustainable packaging options. Glass is recognized as environmentally friendly due to its recyclable and inert properties. Consumers and businesses increasingly prefer packaging materials that have minimal environmental impact.

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Clear glass segment maintains leadership position throughout the forecast period

Based on glass type, the transparent glass segment held the highest market share in 2020, accounting for over two-thirds of the glass packaging market and is estimated to maintain its leadership position throughout the forecast period. Transparent glass is advantageous for products such as beverages, food, cosmetics, and pharmaceuticals because it allows consumers to see the product inside. Transparency increases a product’s visual appeal and can influence purchasing decisions. Such factors drive the market growth.

The food and beverage segment is maintain Leading position during the forecast period

Based on end-user industry, the food and beverage segment accounted for the largest share in 2020, accounting for nearly three-fifths of the glass packaging market revenue and is projected to maintain its leading position during the forecast period. In the food and beverage sector, glass packaging innovation is playing a key role in gaining competitive advantage for retailers and product manufacturers looking to promote and differentiate their brands. Such factors are expected to drive the demand for glass packaging during the forecast period.

Asia Pacific maintain Its dominance will increase by 2032

On a regional basis, Asia Pacific held the highest market share in terms of revenue in 2020, accounting for over one-third of the glass packaging market revenue.

The main driving force for the glass packaging market in Asia Pacific is new packaging technologies for food packaging and packaging based on environment-friendly materials. In addition, there will be a high demand for new technologies to improve the quality of packaging and improve the safety and protection of encapsulated products such as food, cosmetics, and pharmaceuticals. All such factors are anticipated to provide favorable opportunities for the growth of the glass packaging market.

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Key market players: –

• Velaria SA

• Vidrala

• Taiwan Glass Industry Co., Ltd.

• BA group

• Gerresheimer AG

• OI glass

• Stölzle Glass Group

• PGP Glass Private Limited

• vitro glass

• Ardagh Group SA Atlas Copco

This report provides a detailed analysis of these key players in the Glass Packaging market. These players are adopting various strategies such as new product launches, expansions, and acquisitions to increase their market share and maintain a dominant share in different regions. The report helps to introduce the competitive scenario by highlighting business performance, business segments, product portfolio, and strategic moves of market players.

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