Glass Packaging Market Growth Accelerated by Growing Demand for Recycled Glass Packaging Materials

 

Glass packaging materials are durable and provide good protection against hazardous chemicals, oxygen, and moisture. Glass packaging is hygienic and retains flavors of food and beverages for a long time. Growing consumer demand for premium packaged products along with increasing environmental concerns is augmenting the demand for recycled glass packaging materials.

The global Glass Packaging Market is estimated to be valued at US$ 63.8 billion in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Growing demand for recycled glass packaging materials: The use of recycled glass packaging materials helps reduce carbon emissions in glass manufacturing as well as minimizes waste generation. Recycled glass requires significantly less energy to produce new glass containers as compared to manufacturing glass from raw materials. Emerging technologies enable efficient sorting and processing of recycled glass, thereby augmenting their use in new packaging solutions. Major glass packaging manufacturers are focusing on developing innovative ways to increase the recycled glass content in containers without compromising on quality and functionality. This key trend is expected to drive the demand for glass packaging solutions over the forecast period.

Segment Analysis
The global glass packaging market is dominated by the food and beverages sub-segment. About 50% of the total glass packaging demand comes from food and beverage packaging. Glass is a preferred packaging material for bottling beer, wine, spirits, juices, sauces, appetizers, etc. due to its barrier properties and sustainability advantages over plastic. The food and beverage industry relies heavily on glass packaging for premium and high-end products.

Key Takeaways
The global glass packaging market is expected to witness high growth over the forecast period. The market demand is rising across various end-use industries like food and beverages, pharmaceuticals, personal care, etc. due to attributes like sustainability, barrier properties, aesthetics, and high recyclability associated with glass packaging. The global Glass Packaging Market is estimated to be valued at US$ 63.8 billion in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030.

Regional analysis
Europe dominates the global glass packaging market currently. The demand is maximum from countries like Germany, France, Italy, UK, etc. APAC is the fastest growing regional market for glass packaging. Developing economies like China, India are witnessing rapid industrialization and increasing urbanization which is propelling the glass packaging demand from various end-use industries in the region.

Key players
Key players operating in the glass packaging market are Owens-Illinois, Ardagh Group S.A., Verallia, Vidrala S.A., BA Vidro, S.A., Hindustan National Glass & Industries Limited, Nihon Yamamura Glass Co., Ltd.

Owens-Illinois is currently the largest manufacturer and supplier of glass packaging products globally. It has a strong foothold across key markets. Ardagh Group S.A is another prominent player with a strong international footprint and a wide portfolio of glass packaging solutions.

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