Glass Packaging Market Size By Product (Borosilicate, De-alkalized Soda Lime, Soda Lime), By Application (Alcoholic Beverages, Beer, Food & Beverages, Pharmaceuticals), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Published Date: Jul 2017 | Report ID: GMI1988 | Authors: Kiran Pulidindi, Akshay Prakash
Glass Packaging Market size was recorded over USD 45 billion in 2016 and the market will grow with a CAGR more than 4.5% up to 2024.
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Glass packaging industry statistics will witness promising trends in future owing to rising demand from food & beverage and pharmaceutical packaging sectors. Glass bottles are hugely popular for the packaging of alcoholic and non-alcoholic beverages as it preserves taste, aroma, freshness and quality of the products. Additionally, it improves the shelf life of these products by preventing contamination. Rising beer consumption all over the world is going to positively influence the market in near future. Glass is mostly preferred as a packaging material for beers. Increasing population, lifestyle changes and ease of availability will boost the beer consumption in emerging economies. Continuous R&D efforts to enhance the chemical stability and weight reduction of glass bottles will support the market growth. Asia and Europe region collectively accounted for around half of the global beer consumption in 2016. Such trends will augment the glass packaging market size within the forecast period.
In pharmaceutical industry, glass packaging in the form of glass bottles, oral vials, etc. are used for packaging of drugs and medicines. This type of packaging prevents air and moisture from getting in contact with medicines. Additionally, it offers excellent chemical resistance to medicines, and can get sterilized easily. Huge investments in healthcare spending coupled with research activities are going to bolster the pharmaceutical industry in future. As ageing population increases along with number of chronic diseases, it will trigger the demand for pharmaceutical products. According to European Federation of Pharmaceutical Industries and Associations (EFPIA), global pharmaceutical market was estimated at USD 845 billion in 2016. Pharmaceutical industry faces challenges from the usage of duplicate drugs and to avoid this issue, various regulations have been imposed which will support the growth of glass packaging in the pharmaceutical sector. These aforementioned factors will significantly contribute to the growth of pharmaceutical industry, thereby augmenting the market growth between 2017 to 2024.
The market will be affected by rising popularity of plastics as a packaging material. The product is subjected to various limitations such as high pricing, brittleness, and supply chain issues. However, plastic is lightweight and can be easily converted into different sizes and shapes which will benefit its demand. The global plastic production increased by more than 30% from 2008 to 2016. The production will remain strong due to consistent innovations in the plastics industry. These trends will negatively influence the growth of market within the forecast time spell.
|Base Year:||2016||Market Size in 2016:||45 Billion (USD)|
|Historical Data for:||2013 to 2016||Forecast Period:||2017 to 2024|
|Forecast Period 2017 to 2024 CAGR:||4.5%||2024 Value Projection:||65 Billion (USD)|
|Pages:||110||Tables, Charts & Figures:||154|
|Geographies covered (17):||U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC|
|Segments covered:||Product, Application and Region|
|Companies covered (15):||Amcor Ltd, Ardagh Group, Bormioli Rocco SpA, Consol Specialty Glass (Pty) Limited, Gerresheimer AG, Hindusthan National Glass & Industries Ltd, Heinz-Glas GmbH, Koa Glass Co. Ltd, Nihon Yamamura Glass Co Ltd., Owens-Illinois Inc, Piramal Glass Limited, Saint-Gobain S.A., Stolzle-Oberglas GmbH, Vidrala S.A., Vitro Packaging LLC|
|Pitfalls & Challenges:||
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Glass Packaging Market, By Product
Based on product, the market is segmented into de-alkalized soda lime, borosilicate and soda lime. Among these segments, soda lime will capture more than 60% revenue share till the end of forecast period. Soda lime is cost efficient and has high chemical stability. It offers superior hardness and better workability. It is widely popular for packaging glass containers such as jars and bottles.
Borosilicate segment accounted for more than a quarter of glass packaging market share in 2016, registering a revenue more than USD 10 billion. Borosilicate glass has high strength and provides excellent resistance to thermal shock. It shows promising future trends owing to usages in pharmaceutical industry.
Analysis By Application
The glass packaging market share is segmented into food & beverages, alcoholic beverages, beer, pharmaceutical and others. Others segment includes cosmetic products, personal care products, etc. Alcoholic beverages segment will grow at a CAGR more than 5% during the forecast period. Higher demand for alcoholic beverages will trigger the market in coming years.
Pharmaceutical segment garnered more than USD 4 billion in the year of 2016. The neutral nature and recyclability of glass packaging will bolster its demand in the pharmaceutical sector. Moreover, financial support from government bodies and supportive policies will augment the pharmaceutical industry. This will in turn spur the market growth in near future.
Asia Pacific will capture majority of market share in global glass packaging market. It will clutch more than 30% revenue share by 2024. The region’s dominance is due to rising consumption of beer and other alcoholic beverages. China, Japan and India are some of the leading countries in terms of beer consumption and collectively contributed to around 25% of worldwide beer consumption in 2016. Prevalence of diseases, changing consumer behavior, availability at low prices will boost the regional pharmaceutical sales in near future. Additionally, favorable government policies will assist the growth of pharmaceutical industry, thereby fueling the product demand in future.
North America market will grow at a CAGR more than 3.5% between 2017 to 2024 owing to rising demand from pharmaceutical industry. As per the report of European Federation of Pharmaceutical Industries and Associations (EFPIA), North America, being a leading region in the pharmaceutical sector, captured close to 50% share in the year 2016. The growth of regional pharmaceutical sector is mainly due to huge government expenditures and technological innovations in the U.S. Such trends will propel the regional market growth. The popularity of beer across the consumers in North America will bolster the demand for glass packaging in upcoming years.
Competitive Market Share
Some of the major product manufacturers in the glass packaging market share are Amcor Ltd., Consol Specialty Glass (Pty) Limited, Gerresheimer AG, Koa Glass Co. Ltd., Bormioli Rocco SpA, Ardagh Group and Heinz-Glas GmbH. These companies are adopting different strategies to gain competitive advantage with product innovation, expansion of sales & distribution network and expansion of production capacity.
The market will be driven by favorable growth trends associated with food & beverage and pharmaceutical industry. Rising packaging applications of alcoholic beverages, non-alcoholic beverages, pharmaceuticals, etc. will augment the market growth. Additionally, the market will be characterized by innovation and technological breakthroughs over the forecast period. However, plastic packaging poses significant threat to the market growth in near future.
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