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The global glass packaging market size was estimated at USD 48.97 billion in 2013, growing at a CAGR of 4.5% from 2014 to 2022. Rising demand for alcoholic beverages along with rapid increase in the beer industry in Eastern Europe and Asia Pacific is expected to augment market growth over the forecast period.
The global market is highly fragmented in nature owing to the presence of numerous small- and medium-sized companies. In addition, ongoing product innovation and technological advancements to make glass bottles lighter, thereby reducing the energy required to produce and transport them are expected to generate growth opportunities in future.
Growing consumption of glass packaging in pharmaceuticals along with food & beverages sector on account of its non-corrosive nature is expected to drive the demand. In addition, various properties including recyclability, non-permeability, and zero rate of chemical interaction make it suitable as a packaging material for various applications including beer, soft drinks, beverages, and medical.
Increasing consumer health awareness along with high living standards will increase glass demand in pharmaceutical packaging. Glass being eco-friendly along with numerous ongoing R&D to develop packaging, which is 50% lighter as compared to traditional forms, is expected to witness immense potential over the projected period.
Plastic bottles and metal cans can be used as substitutes to glass on account of their light weight and low cost. Growing demand for plastic bottles and metal cans in chemicals, perfumes, and aerosols is expected to restrain the industry demand. Rising consumer awareness towards hygienic packaging in food & beverage sector is likely to open new avenues over the forecast period.
Developing healthcare sector for pharmaceutical storage on account of sterility and reusability is expected augment industry demand across the globe. In addition, increasing use of glass packaging in food industry owing to durability is expected to offer lucrative opportunities for new market players in the upcoming years.
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