Research and Markets published a Glass Packaging market research report, this analysis offers an in-depth insight into the market until 2027.
The Global Glass Packaging market accounted for 63.77 billion USD in 2019 and is expected to reach 105.44 billion USD by 2027 growing at a CAGR of 6.5 percent during the forecast period. Rising demand from food & beverage and pharmaceutical packaging sectors and increasing consumer demand for safe and healthier packaging are driving market growth.
Glass is considered as the safest choice for packaging products, particularly food products and drugs. It is used to avoid contamination of any chemical or other foreign elements. Glass bottles and jars are available in various sizes, colours, and shapes. This can ensure its consistent usage, worldwide, across a range of end-user industries, despite the heavy competition from plastic packaging.
Based on the application, the pharmaceutical/healthcare segment is going to have a lucrative growth during the forecast period due to its non-toxicity and reusability and expanding pharmaceutical sector in the developing countries. By geography, Europe is going to have a good growth during the forecast period due to increasing consumption of beer, the ageing population of the nation which is fuelling the market for pharmaceutical packaging and consumer awareness related to the health and environmental benefits of glass bottles.
Some of the key players profiled in the Glass Packaging Market include Vitro Packaging, LLC., Ardagh Packaging Holdings Limited, Vetropack Holding AG, Saint Gobain S.A., Owens-Illinois, Inc., Hindusthan National Glass & Industries Limited, Gerresheimer AG, Bormioli Rocco SPA, Vidrala S.A., and Amcor Limited.
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