Glass Packaging Market Trends

Growth Drivers

Growing Consumption and Export/Import Volume of Alcohol - As of 2022, alcoholic beverage worth nearly USD 275 million was exported from India while the total import volume in India from the United States was valued at around USD 300 million.Alcohol is consumed on a higher scale across the globe every day. For instance, approximately 70% people of the population reported having some sort of drinking disorder. Additionally, alcohol has other utilization in cosmetics, medicines, and other verticals and it is highly packed in glass bottles for distribution. Hence, such a higher utilization is estimated to push the market growth over the forecast period.
Convenient Recycling of the Glass Bottles - It was observed that approximately 40% of bottles of beer and soft drinks were recovered for recycling in 2018.
Higher Demand for Glass Packaging in Fragrance Industry - In 2018, the sales volume of perfume was estimated to be about USD 45 billion worldwide, out of which, around USD 450 million came from the women’s segment alone.
Increasing Utilization of Glass Packaging in Tea & Coffee - For instance, approximately 300 billion liters of tea were consumed in 2021.

Challenges

Requirement for Higher Initial Investment
Decline in the Supply-Chain due to COVID-19
Presence of Alternatives in the Market

Glass Packaging Market: Key Insights

Base Year	2022
Forecast Year	2023-2033
CAGR	~5%
Base Year Market Size (2022)	~ USD 70 Billion
Forecast Year Market Size (2033)	~ USD 100 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

Growing consumption and export/import volume of alcohol is estimated to majorly boost market growth.

The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023-2033.

A decline in the supply-chain due to COVID-19 is estimated to challenge market growth.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are PGP Glass Private Limited, Verallia Group, Bormioli Luigi S.p.A., VITRO Flat Glass LLC, Stoelzle Oberglas GmbH, Amcor Limited, Mondi plc, Gerresheimer AG, Westpack LLC, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

The market is segmented by glass type, application, and by region.

The food & beverage segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Glass Packaging Market Trends