According to a new market report published by Credence Research “Glass Bottle Packaging Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023,” the Glass Bottle Packaging market was valued at US$52.5 Bn in 2015, and is expected to reach US$74.7Bn by 2023, expanding at a CAGR of 4.5% from 2016 to 2023.
Browse the full Glass Bottle Packaging Market by Application – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at https://www.credenceresearch.com/report/glass-bottle-packaging-market
Glass is nonporous, impermeable and it doesn’t react with most of the products packed in it; ensuring that the products inside a glass bottle keep their strength, aroma, and flavor to affect the flavor of packaged products.It preserves food and beverages for a long term and avoids contamination.Glass is the trusted packaging for health, taste and the environmentdue to its properties like recycling reuse and neutral reacting nature.
Glass is widely used for alcohol beverages packaging and food packaging in the world. Glass bottles are the preferred source of packaging for Beer. Majority of beer volume was sold in glass bottles.
Glass is 100% recyclable. When recycled glass doesn’t lose its quality or purity.An estimated more than 75% of used glass bottles are used for new glass bottle manufacturing. High cost of glass bottle manufacturing and increasing use of PET bottles over glass bottles is a major factor restraining the global glass bottle packaging market.
In 2010, the U S Food and Drug Administration recommended to avoid using bottles and cups containing BPA (bisphenol A, a chemical used in plastics. Government rules and regulations regarding food packaging and pharmaceutical packaging will further enhance the growth of glass packaging.
Key players covered in this report are Amcor, Ardagh Group, Bormioli Rocco, China Glass Holdings, Consol Glass, Gerresheimer AG, Heinz-Glass, Hindusthan National Glass & Industries, Koa Glass, Nihon Yamamura Glass, Orora Packaging Australia , Owens-Illinois Inc., Piramal Glass and Saint-Gobain S.A.
Gerresheimer AG has its strong presence in pharmaceutical industry whereas Piramal Glass has in cosmetics and personal care. Players like Hindusthan National Glass & Industries has its presence across all the verticals.
Asia-Pacific region has higher market share in overall glass packaging market by volume.Developing regions in Asian market were responsible for growth in glass bottle packaging market. A growing middle class disposable income as well asincreasing consumer base in South East Asia contributed to increasing demand of glass bottles.Asia Pacific is one of the major emerging markets globally for glass packaging. Asia Pacific accounted over XX% of global glass packaging in 2015.
Overall performance of glass bottle packaging is closely related to performance of alcohol industry. Increasing beer industry in European countries will show significant growth in glass bottle packaging. Middle East is expected to witness growth in pharmaceutical glass bottle packaging in upcoming years.
- Increasing disposable incomes in developing markets
- Growing acceptability of alcohol consumption in Asian market
- Growing consumer awareness about health, Hygiene,ecofriendly products
- Increasing per capita beer consumption