CHICAGO, Jan. 18, 2024 /PRNewswire/ -- According to Arizton's latest research report, the glass packaging market is growing at a CAGR of 4.73% during 2022-2028. Gen Z and millennials getting influenced by sustainable packaging, a shifting focus toward glass packaging solutions, and rising adoption of innovative technology are significant trends in the industry.
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Browse in-depth TOC on "Glass Packaging Market"
278 - Pages
71 - Tables
111- Figures
Glass Packaging Market Report Scope
Report Attributes | Details |
Market Size (2028) | USD 82.99 Billion |
Market Size (2022) | USD 62.88 Billion |
CAGR (2022-2028) | 4.73 % |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segmentation | End-user, Product, and Geography |
Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
Glass packaging provides an exceptional platform for product differentiation. Its transparency showcases the contents, which can be a potent marketing tool, particularly for products with visual appeal, such as premium beverages or cosmetics. Unique bottle shapes, embossed textures, and innovative labeling techniques further enable brands to stand out in a competitive market. Moreover, innovation is at the forefront of glass packaging. Manufacturers have introduced various design elements and functionalities, including resealable caps, user-friendly pour spouts, and textured surfaces, all aimed at enhancing convenience and visual appeal for consumers.
The visual appeal of glass packaging plays a pivotal role in increasing demand. Glass exudes a sense of luxury, sophistication, and timeless elegance that other materials often struggle to replicate. Its transparency allows consumers to see the product within, creating a premium and enticing visual experience. The weight and heft of glass containers convey a sense of substance and quality that resonates with consumers seeking premium products. Brands have capitalized on this by using unique shapes, embossing, and decorative elements to further elevate the packaging's aesthetics. Moreover, the demand for glass packaging has experienced significant growth due to the premiumization trend in various industries. The visual appeal, sustainability, product preservation qualities, customization options, and ability to enhance consumer experience make glass packaging a favored choice among brands seeking to position their products as premium offerings. As consumer preferences continue to evolve and the focus on premium experiences and sustainability persists, glass packaging is likely to remain a sought-after option for years to come.
Gen Z and Millennials Elevate Glass Packaging to New Heights
Gen Z and Millennials, having matured in an era shaped by heightened environmental consciousness, are witnessing the repercussions of climate change, plastic pollution, and the depletion of natural resources. This has cultivated a heightened sensitivity to their environmental footprint, leading them to seek sustainable alternatives actively. Glass, recognized as a recyclable and eco-friendly material, aligns seamlessly with its commitment to waste reduction and planet preservation. In addition to their environmental concerns, these generations prioritize health more than their predecessors. Glass emerges as a preferred option for packaging food and beverages due to its absence of harmful chemicals commonly found in certain plastics, such as BPA. The perception of glass as a safer choice for packaging contributes to a surge in demand, particularly for products intended for direct consumption from the packaging. The growing demand for sustainable products extends beyond specific age groups in the US, positively influencing the market demand for glass packaging. As more individuals prioritize eco-conscious choices, there is an increasing likelihood of opting for products packaged in glass, thereby propelling the demand for glass as the preferred packaging material. This evolving trend underscores a heightened awareness of the environmental impact of packaging materials and a corresponding desire for more sustainable options.
Bottles Set to Lead the Market, Anticipated Rapid Growth for Ampules, Vials, and Other Product Segments
Bottles significantly increase the demand for glass packaging in the market for several compelling reasons. Firstly, glass bottles are widely preferred for their inherent qualities, such as being impermeable and inert, ensuring that the contents inside remain untainted by external factors like UV rays or chemicals. This property makes glass bottles ideal for preserving the taste and quality of beverages, especially premium ones like wine, spirits, and craft beer. As consumers increasingly seek high-quality and sustainable packaging options, glass bottles align with these preferences, further driving demand. Additionally, glass bottles are highly recyclable and eco-friendly, which resonates with the growing environmental consciousness among consumers. The recyclability of glass reduces waste and carbon footprint, aligning with sustainability goals. Governments and environmental regulations also encourage using recyclable materials, reinforcing the demand for glass packaging. For instance, according to FEVE, around 580 kg of CO2 is saved throughout the supply chain, air pollution is reduced by 20%, and water pollution is reduced by 50%.
Ampules and vials are crucial in driving the demand for glass packaging in the global market. The pharmaceutical and healthcare industries heavily rely on these ampules, vials & others to ensure the integrity and sterility of their products. The increasing investment in the pharmaceutical sector has led to a significant surge in demand within the market. This growth can be attributed to several factors, including the expanding pharmaceutical and biotechnology industries, rising healthcare services, and the developing new vaccines and therapies. For instance, according to the Glass Packaging Institute, in 2022, Gerresheimer announced a substantial investment of up to $94 million in an expansion project located in Morganton, North Carolina. The company stated the expansion project was intended to greatly boost the annual production capacity for glass vials in the US. This expansion will result in increased sales, a larger consumer base, and an expanded market presence. Collaboration within the healthcare and pharmaceutical industry can significantly boost the demand for glass packaging in ampules and vials.
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Competitive Overview
There is intense market competition as players strive to gain more market share. The market will witness growing market consolidation due to the intensely competitive environment. Vendors must develop high functionalities and continue upgrading their offerings to keep pace with the latest technological developments, failing, which could cause them to lose relevance in the market. Key market players compete in several rounds, such as introducing new products, pricing, and establishing an online presence. The growth of vendors in the market also depends on market conditions, technological innovations, and industry development. Therefore, vendors must expand their geographical presence while reviving domestic demand to achieve sustained growth. Most vital leading vendors focus on the European and North American markets. Thus, to capitalize on increasing demand from regions such as APAC, Latin America, and MEA, key players are expanding their geographical presence by entering emerging markets such as Brazil and India.
Key Company Profiles
- Ardagh Group
- Amcor
- AptarGroup
- Berlin Packaging
- Gerresheimer
- HEINZ-GLAS
- Nihon Yamamura Glass
- O-I Glass
- Piramal
- Verallia
- Vidrala
- AAPL Solutions
- AGI glaspac
- BA Glass
- Beatson Clark
- Bormioli Luigi
- Groupe Pochet
- Hindustan National Glass & Industries Limited
- koa glass
- Middle East Glass
- Nipro
- Saverglass
- SCHOTT
- Shandong Province Medicinal Glass
- Sisecam
- SGD Pharma
- STOELZLE GLASS GROUP
- Toyo Seikan Group Holdings
- Vetropack
- Vitro, S.A.B. de C.V.
- Wiegand-Glas
- Zignago Vetro
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Market Segmentation
End-user
- Beverages
- Food
- Pharmaceutical
- Personal Care and Cosmetics
- Others
Product
- Bottles
- Jars & Containers
- Ampules & Vials & Others
Geography
- APAC
- China
- India
- Japan
- South Korea
- Indonesia
- Australia
- Europe
- France
- Germany
- Italy
- The UK
- Spain
- North America
- The US
- Canada
- Latin America
- Mexico
- Brazil
- The Rest of Latin America
- Middle East and Africa
- Turkey
- Egypt
- Saudi Arabia
- The Rest of Middle East and Africa
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Key Questions Answered in the Report:
How big is the glass packaging market?
What is the growth rate of the global glass packaging market?
Which region dominates the global glass packaging market share?
What are the significant trends in the glass packaging industry?
Who are the key players in the global glass packaging market?
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