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Sunday, December 4, 2022

Glass Container Market likely to surge at a vigorous 4.0% CAGR during the assessment period 2031 | Future Market Insights, Inc.

Last updated Friday, November 11, 2022 02:15 ET , Source: Future Market Insights, Inc.

Newark, United States, 11/11/2022 / Future Market Insights, Inc. /

Glass containers are basically a form of glass packaging, highly preferred by customers owing to their ability to preserve the taste and flavor of the products inside. The glass container market has undergone remarkable changes in order to become more customer friendly over the past years. The weight of glass containers has reduced significantly over the time, aiding to decreased logistics costs. The unique features of glass, such as chemical durability, optical properties, transparency, and low cost ensure its continued success over the years.

In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for glass containers. The report tracks the global sales of glass containers in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the beverage industry in general, and glass containers in particular.

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Essential point

  • Due to the prevalence of manufacturers selling alcohol in glass bottles, the beverage industry has a significant impact on the glass container market.
  • When compared to other end-use applications, alcoholic beverages have a bigger market share in terms of volume. This makes them one of the most lucrative segments in the beverage industry.
  • Growth is still largely dependent on the creation of novel, lightweight items with appealing designs and brilliant colour schemes at more affordable manufacturing costs.
  • Strong growth in the realm of luxury packaging, particularly in the alcohol and cosmetics industries, is what drives demand for glass.
  • The demand for luxury packaging is expanding globally. To diversify their product offerings and increase their market share, major industry players are launching new luxury packaging items.
  • Throughout the forecast period, the United States will continue to be one of the most lucrative markets. According to the 2019 National Survey on Drug Use and Health, nearly 85.6% of people over the age of 18 will consume alcohol at some point in their lives.
  • Due to the increasing consumption of alcoholic beverages, Germany is expected to remain one of the highly lucrative markets for glass containers.

How do the Glass Container Future Prospects Compare to Historical Pattern?

Since the majority of manufacturers sell alcoholic beverages packaged in glass bottles, the alcoholic beverage industry has a significant impact on the consumption of glass containers. With a higher market share in terms of volume compared to other end-use applications, alcoholic beverages represent one of the most valuable categories within the beverage business. Strong growth in the luxury packaging market, particularly in the liquor and cosmetics industries, has increased demand for glass.

A key growth enabler has continued to be the creation of novel, lightweight products with appealing designs and brilliant colour schemes at lower production costs.

Due to the disruptions in the supply chain, the COVID-19 pandemic has affected the packaging industry. However the food, beverage and healthcare industries despite being affected have responded to the crisis to accommodate increasing demand for food and medicines among consumers as they entered quarantine.

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Competitive Landscape

It is estimated that the glass container market will welcome new entrants in the coming years, due to an increase in consumer preference for environmentally friendly products. In the near future, multinationals and other established players in the market are likely focus on expansion. Besides this, focus on expansion will continue to increase through the forecast period.

For instance:

  • In January 2020 – Ardagh Group S.A., a corporate unit of the group and the biggest domestic glass bottle producer for the wine industry in the US launched six new sophisticated glass wine bottle designs.
  • In November 2019 Owens-Illinois established a glass collection center at its headquarters. The glass was gathered by O-I and shipped for processing to the Rumpke Recycling plant. In order to be repurposed into fiberglass or fresh wine and beer packages, some of the recyclables will later be delivered to the glass production sites of O-I in Zanesville, Ohio, and Lapel, Indiana.

Some of the leading companies operating in the market are:

  • Ardagh Group S.A
  • Amcor Plc
  • Consol Glass (Pty) Ltd
  • Owens-Illinois, Inc.
  • Saverglass Group
  • BA Glass
  • Hindusthan National Glass & Industries Limited
  • Nampak Ltd
  • Wiegand-Glas
  • Vidrala S.A.

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Key segments

Product Type

  • Glass Bottle
    • Sauce / Syrup Bottle
    • French Square Bottle
    • Boston Rounds Bottle
    • Glass Jug
    • Others (Rio rounds, woozy bottles, pill packer etc.)
  • Glass Jar
    • Mason Jar
    • Hexagonal Glass Jar
    • Paragon Glass Jar
    • Straight Sided Jar
    • Others (Facet jar, tempered round jar, etc.)
  • Glass Vial
    • Food Grade Vial
    • Pharma Grade Vial
  • Candle Glass Container

Color

  • Amber Glass Container
  • Blue Glass Container
  • Clear Glass Container
  • Frosted Glass Container
  • Other Coloured Glass Container

End-Use Industry

  • Cosmetics & Perfumes
    • Perfumes
    • Color Cosmetics
  • Pharmaceuticals
  • Food Packaging
    • Generic Food Packaging
    • Specialty Food Packaging
  • Beverage Packaging
    • Alcoholic Beverages
    • Non Alcoholic Beverages
  • Other Products

Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)

Report Customization available @ https://www.futuremarketinsights.com/customization-available/rep-gb-935

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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The post Glass Container Market likely to surge at a vigorous 4.0% CAGR during the assessment period 2031 | Future Market Insights, Inc. appeared first on Future Market Insights.

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