Blue Weave Consulting, revealed that the global container glass market was worth USD 56.4 billion in 2020 and is further projected to reach USD 84.1 billion by 2027, at a CAGR of 6.0% during the forecast period (2021-2027). The growing demand for environment-friendly packaging material, along with the availability of attractive packaging solutions are some of the major factors expected to propel the market growth for global container glass. Additionally, glass containers are also used by pharmaceutical companies in the packaging of syrups and suspensions, which in turn is driving the market growth. Also, the excessive demand for sauces and condiments has increased the need for container glass as a suitable packaging solution. The emphasis on design and printing to make container glass appealing has also given the market a significant boost. Container glass is also used in the packaging of alcoholic beverages such as beer and vodka; the massive consumption of alcohol across the world directly enhances the growth of the container glass market.
Increasing demand for environmentally-friendly packaging material driving the market growth for the container glass market
Our ecosystem is facing irreparable damage due to plastic as it is a non-biodegradable waste. Plastic has been around for 60 to 70 years and has been continually damaging the marine ecosystem. Glass, on the other hand, can be easily recycled and molded, and it never loses its integrity. Since glass does not affect the environment, businesses prefer it to plastic. Moreover, a glass container can be easily sterilized under high temperatures and are, therefore, used in the packaging of injectables in pharmaceutical companies. Furthermore, the shift in consumer preferences for environmentally friendly packaging serves as a significant growth factor for the global container glass industry.
Increased use of glass in the food, beverages, and pharmaceutical industry driving the market growth for the container glass market
Glass is majorly used in the packaging of food and beverages as compared to other packaging materials such as plastic, paper because it is a tough, durable, chemically inert material and does not interact with chemicals present in the food. Since glass is not decomposed and degraded by microorganisms, it is used in the packaging of pharmaceuticals, food, and beverages. Glass is also suitable for the sterilization process and hence highly used in the packaging of food and beverages. Pharmaceutical products undergo photosensitive degradation which degrades the quality of the product but by using amber glass bottles in the packaging of such photosensitive pharmaceutical products, pharmaceutical companies can prevent the degradation. These are a few factors driving the growth of the container glass market.
Global Container Glass Market–By Glass Type
There are mainly four categories of glasses by type –type-1, type-2, and type-3and type-4. Type-1 glasses dominate the container glass market segment among these four types. Type-1 glass has a 10% boric oxide content, 80% silica content, and a minimal amount of aluminum oxide and sodium oxide. The boric oxide makes it hydrolytically resistant and chemically non-reactive, hence making it suitable for the storage of pharmaceutical products like syrups and suspensions. Furthermore, since the type-1 glass has a low coefficient of expansion and a high thermal shock property, it can easily withstand temperature changes during transportation. Because of its chemical inertness, Type-1 is also ideal for packaging parenteral and non-parenteral medications. These are the reasons why type-1 glass dominates the global container glass market in this category.
Impact of COVID-19
Global glass container market growth is likely to be hindered by the COVID-19 pandemic as lockdowns, social distancing, and trade restrictions have disturbed the supply chain market. Due to COVID-19, the production processes of many companies and factories have been reduced. Numerous companies are operating with a limited workforce owing to the unavailability of workers and to maintain social distancing norms. Since these businesses use glass containers for the packaging of their products, reduced production is inhibiting the market growth. These factors have combined to lower sales for key players in the industry, putting a damper on future investment. On the other hand, those key players who are providing glass to pharmaceutical companies are witnessing a growth in business by helping pharmaceutical companies increase their production capacity to combat COVID-19. But the percentage of pharmaceutical companies is less as compared to the consumer goods market; hence COVID-19 is negatively impacting the global container glass market.
The Asia Pacific Leads the Global Container Glass Market
The Asia Pacific dominates the global container glass market due to the increasing number of food and beverage industries in the region, which is acting a growth factor for the container glass market. Growing population, which contributes to higher beverage consumption, and technological advances in the food and beverage industries are also major factors driving growth in the Asia Pacific container glass market. Alcohol is also widely consumed in countries such as India and South Korea, and glass is the primary packaging material for alcohol.
Some of the key players in the global container glass market are Hindustan National Glass; Toyo Glass Co. Ltd, Consol Glass, AGI Glaspac, Saverglass Group, Ardagh Packaging Group PLC, Owens-Illinois Inc., Verallia, Vidrala SA, Piramal Glass, Dickinson and Company, Frigoglass, Adelphi Healthcare Packaging, and other prominent players. The key players have been taking all possible measures to bring new technologies and developments to the sector. Furthermore, strategic planning is aiding them in gaining a competitive edge in the market.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global container glass market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global container glass market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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