North America Glass Packaging Market will grow at 3% CAGR up to 2024
Date: 2018-12-10   Author: Rahul Varpe  Category: #news

North America Glass Packaging Market will grow at 3% CAGR up to 2024

Global glass packaging market is bifurcated on the basis of product into soda lime, de-alkalized soda lime, and borosilicate types. Popularly known as soda lime silica glass, soda lime product is commonly used in the food & beverages industry. It is also used for containers and windows. Soda lime product type holds a substantial share in the entire glass packaging market. Borosilicate type is formed using major constituents such as boron trioxide and silica. It is subject to less thermal stress and finds application in reagent bottles construction.

On the basis of application, the industry is classified into pharmaceutical, food & beverages, beer, alcoholic beverages and others. The others segment includes minor applications such as personal care, cosmetic products, fragrance & perfumes, etc. Increasing beer and alcoholic beverages consumption in emerging economies coupled with the changing lifestyles and increasing income levels will propel the glass packaging market in these regions. This segment holds almost a fifth of the entire industry.

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Healthcare industry is one of the leading driver for the glass packaging market. In 2016, the global healthcare industry revenue was around USD 1.6 trillion and will grow at an exponential rate in the forecast period. Increasing pharmaceutical products and medicines demand will propel the glass packaging market owing to its chemically inert properties towards the liquid syrups. Glass is a 100% recyclable product without degradation of purity or quality. It also has a negligible chemical interaction rate which makes it a favorable material for the packaging of medicines and other chemicals. These factors have driven the industry in the healthcare sector on a large scale.

Food and beverages are stored in glass containers and bottles as it is impermeable and non-porous. This makes it easy to keep intact and preserve the flavors and smell of the food and beverages. Close to 80% of the product that goes into the recycle bin is used to make new bottles. Rising health awareness and potential risks from plastic packaging have shifted consumer focus on glass packed products over plastic or metal. These aspects will propel the glass packaging market in coming years.

Growing plastic packaging demand due to cost effectiveness, easy handling & transportation, durability, and moldability, and aesthetic features will negatively affect the glass packaging market in coming years. Glass packaging, due to its high cost, brittleness and transportation inconvenience is may face hindrance in growth in future years.

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Taking regions into consideration, Asia Pacific accounts close to 40% of the overall glass packaging market share. Development in pharmaceutical industry and rising amount of alcohol consumption will propel the industry in the next few years. India and China will dominate the regional glass packaging market owing to hospitality sector development and enormous customer base.

With top six players accounting for a 30% industry share, global glass packaging market is highly fragmented in nature. The key top players in the market are Vetropack Holding, Vidrala, Gerresheimer, Saint-Gobain, Ardagh Group, and Owens-Illinois Inc. Other prominent players in the industry include Wiegand-Glas, Amcor, Vitro Packaging, Stolzle-Oberglas, Piramal, Nihon Yamamura, Koa, Heinz-Glas, Hindusthan National Glass & Industries, Consol, and Bormioli Rocco SpA to name a few.

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Glass packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:

Glass Packaging Market by Product
•    Borosilicate glass
•    De-alkalized soda lime glass
•    Soda lime glass

Glass Packaging Market by Application
•    Alcoholic beverages (excluding beer)
•    Beer
•    Food & beverages
•    Pharmaceuticals
•    Others

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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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