WORLDWIDE TREND IN CONTAINER GLASS MARKET
Glass is an integral part of every developed and developing economy and is attached to almost every individual’s life. It is an important commodity for food and beverage packaging, for lighting homes, business purpose and for commercial and residential construction. The unique properties of glass such as its transparent nature, chemical durability, optical properties, low cost and recyclability accounts for maximum utilization of glass products in our society and ensures its continuous success. The four major sectors of the glass industry include container glass, flat glass, speciality glass and fiberglass which are used for consumer products ranging from tableware, television to automotive glass. The container glass sector accounts for major share in terms of value and volume in worldwide glass market. The worldwide container glass sector is among the industry’s largest producer which manufactures more than 10 million tons of products annually. The container glass sector uses a substantial amount of energy to manufacture bottles, jars and other glass containers that compete with alternate materials such as aluminium, plastic, steel and paper.
WORLDWIDE CONTAINER GLASS MARKET: DRIVERS & RESTRAINTS
The worldwide container glass packaging is booming on the back of rising consumer demand for pure, green and sustainable food and beverage packaging. As glass containers remain chemically inert, pure, and thus safer to be used, their popularity and demand is notably rising among end users. As container glass does not deteriorate, fade or stain the products inside the glass container remain as fresh as they were bottled. Further the perception of glass containers as having a high quality or superior image compared to plastic and metal containers is also accelerating the growth of worldwide container glass market during the forecast period. The key property of container glass being chemically inert and highly transparent makes the container glass most suitable medium of packaging of liquor, pharmaceuticals, live saving drugs and other food and beverage items. Significant growth in the packaging and healthcare industry acts as a major driver in the global container glass market. The recyclable property of container glass is another major advantage of container glass which makes it the most preferred choice of packaging and drive the worldwide container glass market through the forecast period.
WORLDWIDE CONTAINER GLASS MARKET: SEGMENTATION
On the basis of product type, the worldwide container glass market is segmented into
- Green Glass
- Clear Glass
- Amber Glass
On the basis of end use industry the worldwide container glass market is segmented into
- Pharmaceutical Packaging
- Food & Beverage Packaging
- Cosmetics & Perfumery
- Other (consumer products) packaging
WORLDWIDE CONTAINER GLASS MARKET: REGION-WISE OUTLOOK
In terms of geography, the worldwide container glass market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. The worldwide container glass market is expected to register a double digit CAGR during the forecast period. Asia Pacific followed by North America is expected to dominate the worldwide container glass market by the end of 2025. Asia Pacific, especially its emerging economies of India and China is expected to register a high CAGR among all other regions by the end of 2025. High growth of food and beverage packaging industry globally, coupled with rising cosmetic sales, changing consumer lifestyles and rising disposable income is driving the demand of worldwide container glass market during the forecast period.