Glass Packaging

Global Glass Packaging Market Is Estimated To Witness High Growth Owing Rising Consumer Demand For Safe And Healthier Packaging And Rapid Urbanization

by

Overview:

Many companies are using glass packaging to convey a feeling and image to their customers. A brand may want to give off a retro vibe for their craft beer or evoke the height of luxury with their perfume, and the use of glass can add a premium feel that is not easily achieved with plastic. The weight and structure of glass can also have a positive effect on the perceived value and quality of the product inside. The inert nature of glass helps to preserve the integrity of a product. It keeps food from absorbing odors or changing flavors over time, especially important for foods with strong aromas and unique tastes. It can also protect creams and other products from the elements or the contaminating effects of other packaging materials. Glass is a natural material that is sustainable and healthy for food grade use. It can be recycled without losing its valuable properties over time, allowing for a closed-looped recycling system that supports policies for a circular economy.

Market Dynamics:

Increasing business expansion by key players is estimated to augment growth of the global glass packaging market during the forecast period. For instance, Gerresheimer is expanding their capabilities for glass vials in two locations, in China and the US, in January 2022. The company is planning to enhance the vial capacity by 150 million units every year. Moreover, increasing operational costs and growing use of substitute products are anticipated to restrain growth of the global glass packaging market during the forecast period.

Impact of COVID-19:

Global Glass Packaging Market was valued at US$ 63.8 Billion in 2021 in terms of revenue, exhibiting a CAGR of 3.7% during the forecast period (2022 to 2030), Says Coherent Market Insights. The pandemic had a lasting impact on the pharmaceutical industry. This outbreak led to high demand for medical supplies and drugs. Many pharmaceutical companies across the world were trying to develop vaccines drugs and other treatment options for battling COVID-19. Several vaccines in the US were distributed in form of single-dose vials. This led to increase in demand for glass packaging. This had a positive impact on the growth of the global glass packaging market. The market is estimated to boost growth post-COVID-1, as many restrictions were relaxed in several countries.

Key Takeaways:

The global glass packaging market is expected to witness high growth, exhibiting CAGR of 3.7 % over the forecast period, due to rising acquisitions among key players. For instance, Verrerie du Comtat was acquired by Berlin Packaging, an US-based hybrid packaging supplier, in June 2022.

Asia Pacific is anticipated to witness significant growth in the global glass packaging market during the forecast period, due to growing demand for packaged goods, and rapid urbanization.

Key players operating in the Global Glass Packaging Market are Wiegand-Glas GmbH, Saint-Gobain, Vidrala, Owens-Illinois, Inc., Vetropack, Amcor plc, Stölzle-Oberglas Gmbh, Ardagh Group S.A., Sisecam Group, HEINZ-GLAS GmbH & Co. KGaA, Shanghai Vista Packaging Co., Ltd., BA GLASS GROUP, Shanghai Vista Packaging Co., Ltd., Bormioli Rocco S.p.A, Rockwood & Hines Glass Group, Consol, Piramal Enterprises Ltd., Gerresheimer AG, Piramal Enterprises Ltd., Hindusthan National Glass & Industries Limited, Orora Packaging Australia Pty Ltd, and Koa Glass Co., Ltd.