The rise in the demand for safer, eco-friendly, aesthetically pleasing, and healthier forms of packaging is helping the industry grow at a high CAGR…
Asia-Pacific Glass Packaging Market is expected to grow at a CAGR of 5.0 % (2022-2028). COVID-19 has had a mixed influence on the glass packaging sector. Glass packaging technology is continually expanding, with designs ranging from robust and lightweight to rigid and tough, all of which are customised to match the needs of customers or products. Piramal Glass Company targeted digital automation as a means of unlocking hidden margins and increasing efficiency in March 2021. It teamed up with a blockchain platform for businesses.
The project’s first phase had four main goals: to validate the use of blockchain in Piramal Glass’ supply chain and export operations, to increase transparency while protecting sensitive data and customer integrity, to understand if the technology could enable multiple stakeholders to collaborate on initiatives like sustainability and to determine if blockchain delivers business value in terms of efficiency improvement and ease.
The demand for healthier and safer packaging is propelling the glass packaging industry forward in a variety of ways. Packaging is becoming more appealing to end-users thanks to new shaping, aesthetic finishing, and embossing processes. Glass packaging is growing due to the need for biodegradable and environment-friendly products, as well as the rise of the Food and Beverage markets.
It is one of the most dependable types of packaging because it is environmentally beneficial, and safe for health. It’s also deemed premium due to its high-end designs or finishes, as well as its capacity to keep the goods fresh and safe. It’s mostly used in a variety of end-user industries. Due to its recyclable nature, glass packaging is also the most desired eco-friendly packaging choice. The most notable recent invention is lightweight glass, which provides the same resistance as prior glass types while being more stable and emitting less CO2.
The increase in population in China boosts market growth and potential. Because of the availability of disposable income, the Asia Pacific region contributes far too much to the market growth. China’s alcohol use has risen dramatically in recent years. According to Banco do Nordeste, a Brazilian bank, China’s alcoholic beverage consumption would reach 54.12 billion litres by 2021. Due to its recyclable nature, glass packaging is also the most desired eco-friendly packaging choice. The most notable recent invention is lightweight glass, which provides the same resistance as prior glass types while being more stable and emitting less CO2. Many alcoholic beverage firms are looking to expand in the country to take advantage of the growing market.
China’s pharmaceutical and healthcare industry is one of the world’s largest, owing to the country’s ageing population. Foreign pharmaceutical businesses are having difficulty doing business in the country due to recent legislative changes, particularly when it comes to market access and pricing regulation.
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As a result, local players may see an increase in demand for glass bottles and containers from these companies, creating a potential growth opportunity. Furthermore, the Asian region’s development in alcoholic beverages expands the market. The Asian region followed by the European region, with Europe being the second-largest market contributing to the expansion. Eastern European countries such as Turkey and Russia contribute to the market’s growth and size. In Germany, increased beer consumption boosts the packaging business. The presence of a growing geriatric population necessitates and propels the pharmaceutical industries forward. The pharmaceutical section of the glass packaging business experiences considerable demand primarily in North America and Europe. Furthermore, due to the rapid expansion of therapies that the populace prefers, this region is in high demand. Also, the Canadian and American regions are in great demand because people prefer to use food containers.
The glass packaging sector saw a surge in demand during the pandemic. This was due to an increase in demand in the pharmaceutical and food industries. Due to the high demand for Food and Beverage units during the pandemic, glass demand surged, which boosted the usage of pharmaceutical bottles, and food jars, and a rise in demand for beverage bottles.
The market is divided into five segments based on product size. They are 20-50 mL, 51-100 mL, 101-250 mL, 251-500 mL, and over 500 mL.
The market has been divided into categories based on application, such as alcoholic beverage packaging, non-alcoholic beverage packaging, food product packaging, cosmetics packaging, and so on. China, Japan, India, and South Korea are just a few of the Asia Pacific’s significant countries. Due to rising demand for glass vials for the delivery of covid-19 vaccines, availability of raw materials, and higher personal disposable income, China will dominate the glass packaging market in the Asia-Pacific region during the forecast period.
The etching of artistic designs on the packaging of glass bottles is now possible due to advanced technology. Technology has enabled embossing and the purchase of bottles in a variety of shapes. The lightweight glass has been innovated in an established style, providing the same resistance on the bottles, due to technological advancements. The amount of carbon dioxide emitted was lowered, while the volume of raw materials was reduced.
Competitive Landscape –
The Asia Pacific Glass Packaging Market is moderately fragmented. Amcor, AptarGroup, Bemis, Piramal Glass Company, MTS Medication Technologies, and Sonoco Products Company are upscaling the market with significant research and development investments in the industry’s sustainability and digitization. Amcor introduced an improved heat-seal coated glass packaging solution for medical-grade packaging applications in June 2021. For healthcare applications, this technology provides better performance features. It will be manufactured at several sites throughout the world to provide clients more options. Gerresheimer announced the growth of its production output in Asia in January 2020. The company manufactures speciality packaging from glass and plastic at over 35 locations across Europe, America, and Asia. The company launched two more factories in China and India in December 2019.
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