Page 58 - Glass Machinery Plants & Accessories no. 3-2021

REGIONAL STUDY
Regional study
LATIN AMERICA

sees glass bottles

market primed

for growth

ccording to Latin for by an increasing demand
Prompted by an America Glass Bottles from the beverage industry.
Aand Containers Market As reported by Argentina’s
expansion of the - Growth, Trends, COVID-19 Secretary of Integral Policy on
Impact, and Forecasts (2021 Drugs, the country consumes
middle class in - 2026), the region’s glass more alcohol per capita than
bottle and container industry any other in Latin America. Yet
LATIN AMERICA, was valued in 2020 at an esti- besides alcohol consumption
mated USD 5215.1M. Now being considerably high nowa-
a recent report it’s expected to reach USD days amongst Brazilians, ris-
6731.97M by 2026, signaling ing consumption of such non-
by ‘Research growth at a projected CAGR of alcoholic beverages as milk and
4.4 percent over the forecast juices is also expected to create
and Markets’ period 2021 to 2026 - a mar- further scope for the glass bot-
ket drive accounted tle and container market in
the region.
examines why the
The market is being fur-
ther driven by such innova-
current regional the
t tions as lightweighting and io
effective recycling. Here
investments in ef
newer production methods
ne
and the effects of recycling
pharmaceuticals an
both facilitate quantitatively
bo
higher manufacturing - all
will likely add h
with thin-walled, lightweight
w
g
more traction to glass containers. Not only.
T
The development in Latin
America of the Narrow Neck
A
the glass bottles P
Press and Blow process has
allowed for a significant
a
market whilst reduction in glass-bottle
r
weight.
w
further boosting Moving to the downsides,
high competition from sub-
h
economic stitute products is presently
restraining the market. This
growth. sees changes in existing con-
56 GMP&A 3/2022