Preliminary research of Fairfield Market Research indicates a promising growth outlook for global container glass market during the course of next few years.
Lightweight Containers Likely to Gain Traction in Container Glass Market
Development of lightweight and innovative products featuring vibrant colors and attractive aesthetics has remained a key contributor towards container glass market growth. Manufactures of container glass have been focusing on reducing the weight of their packaging solution using modern technology. Lightweight glass containers reduce the use and reliability on raw material, thus reducing the production costs. Moreover, large volume of lightweight containers such as bottles and vials can be transported at a reduced cost as compared to bottles with higher weights. Moreover, sustainability being a prime motivator in manufacturing, companies are aiming towards reduction of wastage by using carrying out optimum use of materials. This aspect is likely to complement the container glass market growth. The overall scenario seems bullish apropos to use of lightweight container glass in several applications backed by advantages such as reusability, recyclability, and aesthetics.
Premium Packaging to Open New Avenues for Container Glass Market
Luxury and premium packaging space is gaining high traction on the global front. Packaging companies are introducing several luxury packaging solutions in a bid to enhance their portfolio and position in the market. Since past few years, the market has been witnessing such new developments in terms of aesthetics of glass packaging. For instance, in 2019, a new sparkling wine bottle was introduced by Ardagh Group SA. This new packaging was a premium edition launched by the company to enhance the presentability of the product. Furthermore, glass packaging is deemed as one of the trusted types of packaging from health, environmental safety, and taste standpoints. Moreover, glass packaging maintains the freshness and appeal of the product. This factor has pushed the use of glass in the luxury and premium packaging sector, in turn providing new opportunities for the growth of the container glass market.
Bottles to Witness a Spike in Demand in Container Glass Market
The demand for glass bottles is expected to increase at a higher pace in the years to follow. This can be attributed towards rising adoption of bottles across end use industries including pharmaceuticals, food and beverages and cosmetics among others. Moreover, the benefits of using glass bottles such as cost efficiency, eco-friendly and their ability to carry high quantity of the respective product are fueling their demand in several applications. In this backdrop, bottles are likely to prevail as the most after containers, thus significantly contributing towards the revenue growth of the market.
Asia Pacific Reflects High Growth Potential for Container Glass Market, Europe Remains Stable
Emerging nations in Asia Pacific are expected to witness increasing adoption of container glass on the back of various industry specific factors. For instance, significant rise in the food processing sector coupled with upscaling consumption of alcoholic beverages remains instrumental in driving the container glass market growth in the region. Furthermore, development of the healthcare and the pharmaceutical industry across countries such as China and India have further accelerated the use of container glass. The demand for bottles and vials in the pharmaceutical sector has been on an increase since the past few years. For instance, according to the Packaging Machinery Manufacturers Institute (PMMI), the use of glass bottles is expected to increase at a momentous pace in the forthcoming years.
In addition, as per Indian Economic Survey report 2021, the pharmaceutical industry is projected to expand by three times in the coming 10 years crossing a valuation of around US$ 125 billion by end of 2030. Alternatively, according to the India Brand Equity Foundation (IBEF), the pharmaceutical sector in India supplies over 50% of the overall demand for vaccines. That said, the growth in the sector is expected to trigger use of bottles, vials, and ampoules, thus significantly contributing towards the revenue growth of container glass market in Asia Pacific.
On the contrary, the market in Europe is also poised to witness steady growth. This is mainly owing to rising food and beverage sector in the region, driving the demand for glass containers. According to European Commission, the exports of food and beverages from Europe have doubled since the last decade. In addition, the consumption of alcoholic beverages in the region is also increasing. For instance, according to the American Addiction Centers (AAC), average individual in Germany consumes around 11 liters of alcohol in one year. As per the Organization for Economic Development and Cooperation (OECD), distribution of alcoholic beverages and its consumption is largely concentrated in Germany. This aspect continues to drive the growth of the container glass market in the region.
Container Glass Market: Competitive Landscape
New product launches by key players have been witnessed in the container glass market. For instance, in January 2020, 6 new sophisticated glass bottles for wine were launched by Ardagh Group S.A. in the United States. Likewise, in 2022, Baralan announced the expansion of its standard portfolio by including new glass bottles with a cylindrical and slim shape for the cosmetics sector. Same year in October, Coca Cola launched returnable large glass bottles in Sri Lanka that feature new design with a refreshed look to improve consumer experience. Similarly, PepsiCo launched takeaway glass bottles for its entire carbonated beverage line for consumers in Maharashtra, India.
A few of the major players in container glass market include Ardagh Group, Borosil, Vitro, Schott AG, Gerresheimar AG, Stevanato Group, Corning Incorporated, Piramal Glass Pvt Ltd., Frigoglass SAIC, Owens Illinois, Amcor PLC, and Saverglass SAS.
Regional Classification of the Global Container Glass Market is Described Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability
Key Elements Included In The Study: Global Container Glass Market
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