Glass Packaging Market – Growth, Trends, Impact of COVID-19,

New York, April 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Glass Packaging Market – Growth, Trends, Impact of COVID-19 and Forecast (2022 – 2027)” – https:/ /www.reportlinker.com/p06271856/?utm_source=GNW
Glass packaging, considered premium, maintains product freshness and safety. This can ensure its continued use worldwide, in a range of end-user industries, despite strong competition from plastic packaging.

Highlights
Growing consumer demand for safe and healthier packaging is helping glass packaging grow in different categories. Additionally, innovative technologies for embossing, shaping and adding artistic finishes to glass make glass packaging more attractive to end users. Additionally, factors such as growing demand for environmentally friendly products and growing demand from the food and beverage market are driving the growth of the market.
Additionally, the recyclable nature of glass makes it the most environmentally desirable type of packaging. Lightweight glass has been an important innovation in recent times, offering the same strength as older glass materials and greater stability, reducing the volume of raw materials used and the CO2 emitted.
According to the European Container Glass Federation (FEVE), 162 manufacturing plants are spread across Europe, and container glass is an important contributor to Europe’s real economy and provides employment to around 50,000 people while creating many job opportunities throughout the supply chain.
From a regional perspective, emerging markets like India and China are seeing strong demand for beer, soft drinks and ciders due to rising consumer spending per capita and changing fashions. of life. However, increasing operational costs and increasing use of substitute products, such as plastics and tin, are restraining the growth of the market.
One of the major challenges for the market is increased competition from alternative forms of packaging, such as aluminum cans and plastic containers. As these items are lighter than bulky glass, they are gaining popularity with manufacturers and customers due to the lower cost of shipping and transporting them.
Glass packaging was considered an essential industry by most countries during the COVID-19 pandemic. The industry is seeing increased demand from the food and beverage and pharmaceutical sectors. There has been an increased demand for glass packaging from the F&B sector as well as the pharmaceutical sector as the COVID-19 pandemic has led to increased demand for medicine bottles, food jars and beverage bottles.
Additionally, during the pandemic, consumers are essentially recognizing the sustainable benefits of glass packaging. In a survey of more than 10,000 consumers in 10 countries by industry experts, glass and paper-based cartons were considered the most sustainable, and multi-substrate packaging was considered the least sustainable.

Main market trends

The beverage industry will hold the highest market share

Premiumization trends have played a role in the selection of glass packaging for various beverage categories, including soft drinks. Soft drinks hold a major share of the market studied, due to the popularity of these drinks across the globe. Soft drinks offer a wide variety of flavors and formats, with something for every drinking occasion.
The glass packaging market in the alcoholic beverage industry is facing intense competition from the segment of metal packaging in the form of cans. However, it is expected to maintain its share over the forecast period owing to its use of premium products. Growth is expected to be seen in different beverage products, such as juices, coffee, tea, soups, non-dairy beverages and others.
Among alcoholic beverages, beer has experienced tremendous growth in recent years. The majority of beer volume is sold in glass bottles and drives the need for increased production rates in the glass packaging industry. Rising demand for premium variants in alcoholic beverages is driving the growth of glass bottles. Developing countries, such as India, also show a much higher perception of beer quality.
Returnable glass bottles are a cost-effective option for businesses to deliver their products. This form of packaging is widely used in the soft drink industry. Currently, around 70% of the bottles used for natural mineral water are plastic. The choice of packaging materials for bottled water is increasing, given environmental considerations.
Beverage companies, such as Coke and PepsiCo, are trying to avoid plastic packaging. For example, PepsiCo is seeking to prevent the use of 67 billion plastic bottles through 2025, and the alternative to that should be glass bottles.
The global dairy industry has witnessed a shift from plastic bottles to glass bottles. Driven by consumer demand for environmentally friendly milk. Dairy companies such as Milk & More and Parker Dairies have seen a substantial increase in demand for glass bottles as consumers are willing to pay a little more for the service than the plastic in their efforts to help the ‘environment.
The introduction of growlers and sustainable glasses/mugs has also enabled taprooms and microbreweries to increase their sales from delivery and takeout. It helps to connect with the audience through unique and original packaging.

Asia-Pacific holds the largest market share

Rising consumption of alcoholic beverages is driving the market growth in Asia-Pacific region. The beer packaging industry in the Asia-Pacific region is mainly driven by changing cultural trends, population growth, urbanization, and the rising popularity of beer among young people. Due to various investments and increasing spread of beer in different regions, changing trends are expected to continue in this region, which in turn may boost the glass bottles and containers market.
China is one of the largest pharmaceutical markets in the world. Compared to many industrialized countries, its overall health expenditure is still modest. The country is steadily improving its domestic drug research and development skills, as well as its domestic drug production, enabling the government to provide affordable health care to a growing number of Chinese people.
Moreover, alcohol consumption in China is increasing dramatically over the years. According to the Brazilian bank Banco do Nordeste, the consumption of alcoholic beverages in China is expected to reach 54.12 billion liters in 2021. Moreover, many alcoholic beverage companies are looking to expand into the country to seize this opportunity.
Additionally, Japan has emphasized recycling glass containers and bottles to reduce its carbon footprint and has built several glass recycling plants across the country. Currently, it has more than 18 glass recycling plants accepting glass bottles and containers to form culets and glass powder. The strong recycling infrastructure, in a way, favors the use of glass packaging due to its functional advantages.
Also, developing countries such as India in the APAC region have witnessed a significant increase in beer consumption. The reuse of glass packaging solutions, especially bottles, is increasing in India as Indian consumers emphasize health; they prefer glass packaging over other options because it prevents leaching from its surface.

Competitive landscape

The global glass packaging market is highly competitive owing to the strong presence of major players globally. Competition is also intense due to the presence of substitutes, as many companies in the industry try to constantly innovate to retain their market share.

March 2022 – HEINZ-GLAS GmbH & Co. KGaA has commissioned a new glass melting furnace at its site in Kleintettau. The project required investments of around 15 million euros.
August 2021 – Owens-Illinois has partnered with James City County to bring glass recycling to the county, which will benefit local charities. Under the program, glass will be collected from designated sites in James City County.

Additional benefits:

The Market Estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06271856/?utm_source=GNW

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