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Glass Packaging Market size surpassed a valuation of over USD 55 billion in 2022. Driven by a steadily increasing demand for glass packaging from the pharmaceutical sector, the market is anticipated to grow at over 4.5% CAGR from 2023 to 2032.
Cosmetics and beauty sector widely uses glass packaging for its products due to the inert and impermeable nature of glass. The glass packaging prevents contamination and offers protection to its contents while also ensuring a long shelf life. This is an important factor for beauty brands as personal care and cosmetic products are a part of customers’ daily health as well as hygiene regime and poor packaging can prove detrimental to customer retention.
Report Attribute | Details |
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Base Year: | 2022 |
Glass Packaging Market Size in 2022: | 55.5 Billion (USD) |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 4.5% |
2032 Value Projection: | 88.3 Billion (USD) |
Historical Data for: | 2018 to 2022 |
No. of Pages: | 275 |
Tables, Charts & Figures: | 262 |
Segments covered: | Product, Application, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Glass has conventionally been used across a wide range of industries for packaging purposes. However, rising demand for lightweight materials that offer benefits similar to glass without its drawbacks, has given rise to plastic packaging. Plastics have the ability to be molded into different shapes and sizes while still being light in weight. Moreover, unlike glass, plastics also offer manufacturers the flexibility to control the thickness of the packaging wall, vastly increasing the scope of applications for the material in comparison to glass. This is likely to hold back industry growth through the analysis period.
On the basis of product, glass packaging market is classified into borosilicate, soda lime glass, and de-alkalized soda lime glass. Borosilicate segment is poised to surpass USD 22 billion by 2032, fueled by the material’s high resistance to chemical composition and extreme durability, borosilicate possesses ten times the strength of soda-lime glass. Borosilicate glass can also handle varying temperatures, making it ideal for packaging uses, especially for storing products at low temperatures in the pharmaceutical industry. This characteristic also allows it substantial traction in the food and cosmetics sectors.
Based on application, alcoholic beverages (excluding beer) segment is anticipated to register over 4.5% CAGR over 2023-2032. Segment growth is slated to be fueled by the steadily growing consumption of alcohol across the globe. Glass is a highly preferred packaging material for alcohol, especially with the growing availability of different bottle sizes and shapes in the retail market. Another major factor proliferating demand is innovation in design as well as chemical composition, which has led to the reduced weight of glass bottles.
Europe glass packaging market valuation is poised to exceed USD 27 billion by 2032. Europe is one of the largest manufacturing regions for the industry, housing some of the largest producers and users of food and beverage packaging. According to a survey commissioned by the European Container Glass Federation (FEVE), nearly 8 out of 10 consumers in the region believe glass to be a fit material for the future, given its recyclability and health benefits. This, along with Europe’s solid glass recycling rates points to a favorable growth environment for the market.
Some leading glass packaging industry players include:
Many firms have undertaken mergers and acquisitions to enhance production capacities and expand regional footprint in recent years.
Covid-19 lockdown saw many non-essential industries halting production, with glass packaging being one among them. Many packaging industry players saw their profits dropping due to low demand and supply chain issues. With soaring energy process and supply chain challenges still plaguing the market, the cost of glass bottles have risen astronomically over the last two years. In fact, many wine suppliers in the UK are expecting glass prices to surge another 45-70% this year, due to rising energy costs.
Glass-making facilities need to operate all day, and take months to restart if shut down, which means that any disruption will lead to a severe interruption in manufacturing and supply. However, with the world slowly coming out of the aftershocks of the pandemic, the industry is expected to stabilize itself and chart a steady growth trajectory.
The glass packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD Million from 2018 to 2032 for the following segments:
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By Product
By Application
The above information is provided on a regional and country basis for the following: