Container Glass Market Growth
Environmental concerns pose a challenge, but opportunities arise with lightweight products.
WILMINGTON, DELAWARE, UNITED STATES, April 19, 2024 /EINPresswire.com/ -- The container glass market is projected to grow significantly from 2021 to 2030, with a CAGR of 6.7%, reaching $155.9 billion by 2030. Key factors driving this growth include increased demand from the food & beverage and pharmaceutical sectors, despite environmental concerns associated with manufacturing. Opportunities arise with the emergence of lightweight container glass products.
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Prime Determinants of Growth:
- Growth driven by demand from food & beverage and pharmaceutical sectors.
- Environmental concerns pose a challenge, but opportunities arise with lightweight products.
COVID-19 Impact:
- Temporary closures during lockdowns reduced demand, especially in food & beverage and construction sectors.
- Post-pandemic recovery expected with increased demand from healthcare, e-commerce, and food & beverage industries.
Segment Analysis:
- Press & blow method dominates, especially in reusable bottles for foods & beverages.
- Narrow neck press & blow segment expected to see the highest growth due to alcoholic beverage packaging.
- Food & beverage segment maintains its lead, driven by increased utilization for storage and premium alcoholic beverages.
- Pharmaceuticals segment to witness significant growth due to increased adoption of glass-based packaging for medicines.
Regional Analysis:
- Asia-Pacific leads in revenue share, with sectors like pharmaceuticals and food & beverage driving demand.
- Europe & North America follow closely, with significant growth expected.
- Asia-Pacific projected to witness the fastest growth rate due to demand across multiple sectors.
Key Players:
Leading companies include Amcor Limited, FrigoGlass, Owens-Illinois Inc., Consol Glass Pty Ltd., Central Glass Co. Ltd., Vitro S.A.B de C.V., Vidrala, and Hindusthan National Glass Industries Limited.
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