Impact Analysis of Covid-19 The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters. Request Sample

Glass is considered as an ideal material for packaging of products as it reduces the risk of contamination and also protects the product from any damage. Glass is derived from natural products such as limestone, sand, and soda ash. Moreover, glass packaging provide long-term preservation of food products. It is eco-friendly as it can be recycled easily and has a zero rate of chemical interaction which makes it ideal packaging materials. Glass is highly popular for packaging of alcoholic and non-alcoholic drinks since it conserve the taste and aroma of the beverage and also increase the shelf-life of the food products.

The global glass packaging market is projected to surpass US$ 78.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 3.4% during the forecast period (2020 to 2027).

Drivers

Growing demand for glass packaging from cosmetic & personal care industry for packaging of cosmetic products is expected to accelerate the market growth. Glass packaging is used to package the perfumes, nail polishes, face creams, lotions, etc. Glass material preserve the cosmetic products by preventing the penetration of air &moisture and increase the shelf-life of the product. Thus, the growth of the glass packaging market is also attributed to the rapid growth of the cosmetic industry.

Increasing demand for glass packaging from the pharmaceutical industry where it is available in the form of oral vials and bottles for packaging of medicine is expected to bolster the market growth of the glass packaging. It offers chemical resistance to the medicine and prevent contamination. Therefore, growth in the pharmaceutical industry due to increasing production of medicines is projected to accelerate the market growth of glass packaging.

Regionally, Asia-pacific dominated the global glass packaging market in 2019, reporting 38% market share in terms of revenue, followed by Europe and North America, respectively.

Figure 1. Global Glass packaging Market, Revenue Share (%), By Region, 2019

Market Restraints

Rising preferences for the plastic product as a packaging material is projected to restrict the market growth of the glass materials. Moreover, plastic is also preferred among manufacturers due to its lightweight and flexibility properties. Thus, the growing popularity of plastic as a packaging material will negatively impact market growth to some extent.

Production of glass is a relatively energy-consuming process as it requires high temperatures for the processing of raw materials. Also, glass is a little expensive as compared to other packaging materials. All these factors are expected to restrict the market growth of the glass packaging.

Report Coverage Details Base Year: 2019 Market Size in 2019: US$ 60.0 Bn Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027 Forecast Period 2020 to 2027 CAGR: 3.4% 2027 Value Projection: US$ 78.0 Bn Geographies covered: North America: U.S.,Canada.

U.S.,Canada. Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe

Germany, U.K., Spain, France, Italy, Russia, Rest of Europe Asia Pacific: China, India, Japan, Rest of Asia Pacific

China, India, Japan, Rest of Asia Pacific Rest of the World Segments covered: By Application:Alcoholic beverages, Beer, Food & beverages, Pharmaceuticals, Others. Companies covered (18): Amcor Ltd, Ardagh Group, Gerresheimer, Hindustan National Glass & Industries Ltd, Koa Glass Co. Ltd., Owens Illinois Inc, Piramal Glass Limited, Saint-Gobain, Heinz-Glas, Wiegand-Glas, Vidrala SA, Vitro Packaging, Nihon Yamamura, Bormioli Rocco Spa, China Glass Holdings Limited, Consol Glass Limited, Stolzle-Oberglas GmbH, and Vetropack Holding AG Growth Drivers: Growing demand for glass packaging from cosmetic & personal care industry

Increasing demand for glass packaging from the pharmaceutical industry

Increasing consumption of beer in the millennial population Restraints & Challenges: Rising preferences for the plastic product as a packaging material owing to its lightweight and flexibility properties.

Workplace hazard associated with the manufacturing of glass materials

Market Opportunities

Increasing population and high consumption of FMCG products by consumers are expected to augment the market growth of glass packaging. Growing demand for glass bottles and jars due to the growing use of the premium product is expected to accelerate the market growth of the glass packaging. Increasing consumption of beverages such as juices, tea, coffee, and soups is further expected to foster the market growth of the glass packaging over the forecast period.

Increasing production of glass packaging around the globe is expected to augment the market growth of glass packaging. According to the Glass Alliance Europe, in 2017, the EU-28 glass production reached a volume of nearly 36 million tons. Thus, the growing production of glass is expected to augment the market growth of the glass packaging over the forecast period.

Figure 2. Global Glass packaging Market – Opportunity Analysis

Market Trends

The growing popularity of borosilicate due to its advantage such as high strength and offer excellent resistance to thermal shock is expected to propel the market growth of glass packaging. Growing demand for food &beverage industry is another major factor expected to augment the market growth. Growing initiatives by the government to promote the use of the eco-friendly product is further expected to foster the market growth of glass packaging.

Growth in the packaging industry due to increasing demand for consumer products is expected to bolster the market growth over the forecast period. According to the packaging gateway, the packaging industry in India is anticipated to reach $73.6bn by the 2020 financial year, due to India’s growing population and income levels. Thus, the growing packaging industry is projected to boost the market growth of glass packaging.

Figure 3. Global Glass packaging Market, Revenue Share (%), By Application, in 2019

On the basis of application, alcoholic beverages dominated the global glass packaging market in 2019 with around 50% of market share in terms of revenue, followed by beer and food & beverages, respectively.

Global Glass Packaging Market - Impact of Coronavirus (Covid-19) Pandemic

The demand of packaging solutions from food & beverages industry owing to the shifting consumer preferences for packaged food products during the pandemic situation. In addition to this, glass packaging is being widely used for pharmaceutical products such as drugs and vaccines amidst the Covid-19 outbreak which is expected to boost the market growth. The global glass packaging market is expected to grow at a higher CAGR of around 8% for a short term period till 2021.

Competitive Section

Key players are operating in the global glass packaging market are Amcor Ltd, Ardagh Group, Gerresheimer, Hindustan National Glass & Industries Ltd, Koa Glass Co. Ltd., Owens Illinois Inc, Piramal Glass Limited, Saint-Gobain, Heinz-Glas, Wiegand-Glas, Vidrala SA, Vitro Packaging, Nihon Yamamura, Bormioli Rocco Spa, China Glass Holdings Limited, Consol Glass Limited, Stolzle-Oberglas GmbH, and Vetropack Holding AG