12 February 2021
Visiongain has published a new report on Glass Packaging Market Report 2021-2031: Forecasts by Type (Bottle, Demijohn, Jar, Ampoule, Vial), by Closure (Normal Seal, Vacuum Seal, Pressure Seal, Other Closures), by Colour (White Flint, Pale Green, Dark Green, Amber, Blue, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Glass Packaging Companies AND COVID-19 Recovery Scenarios.
Global Glass packaging market was valued at US$ xx billion in 2021 and is projected to reach at a market value of US$ xx billion by 2031. Key factor driving the market growth is increasing demand of packaged food products in different developing countries, including China, India, South Africa, and Brazil. Rising demand from the beverage sector and increasing requirement of transparent packaging is a key factor driving the market growth.
COVID-19 Impact on Glass packaging Market
Overall glass packaging market has been witnessed a significant slowdown in 2020. Restriction in raw material transportation in different countries are one of the major factors for market decline. However, significant growth in the food and beverage end use industry is expected to drive market growth in 2021 and 2022.
Demand from Beverages Industries
The demand of glass packaged product is high in beverage production units. Key beverage manufacturers prefer to sign long term deal with glass packaging companies. Consumer shift towards consuming healthy beverages coupled with the availability of large product categories are one of the major factor driving the market growth.
Overall beverage industry growing with an annual rate of over 10%. This trend will impact the glass packaging market. Moreover, technological advancement in beverage segment coupled with automated beverage production and packaging activities is expected to boost the market growth in coming years.
Advancement in Pharma Industry
It has been observed that huge number of pharmaceutical products require glass packaging to maintain its self life. As a result of that, penetration of glass packaging is higher in pharmaceutical segment. Glass packaging has the ability to not contaminant with the material. Glass containers and are majorly manufactured with silicates. Silicate does not mix with other material which makes it popular in pharma application. Development in pharma industry will boost the demand for glass packaged products in coming years.
Product Development in Glass Packaging Market
Prominent glass packaging players are working on product development, innovation, creating new packaging designs and advanced processes to attract new customer companies which will lead to create new opportunities in the overall market. These factors are expected to replace plastic packaging products with glass material in coming years.
Demand of Transparent Packaging
Consumer demand towards purchasing transparent package goods is increasing heavily. End user use this packaging to increase their product value by showcasing their packaged content. Overall transparent beverage packaging market has witnessed an positive growth as a result of its feature to provide consumer need of visual validation.
Some of the companies profiled in the report include Amcor Ltd., Vitro Packaging, LLC., Laval, and WestRock Company. Stoelzle Glass Group has manufactured a new Type II glass in In December 2020. North America based company Ardagh Group, has introduced its online, interactive 3D glass packaging catalogue in November 2020. It is expected to increase consumer demand over the forecasted period.
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