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The container glass market has experienced robust growth in recent years, with its value expected to rise from $40.28 billion in 2023 to $42.79 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.2%. This growth during the historical period can be attributed to the increasing demand for glass packaging, the expansion of the pharmaceutical industry, the adoption of glass packaging for cosmetics and personal care products, stringent regulations that promote sustainable and recyclable packaging, and a rise in global trade and shipping activities.
What Is The Estimated Market Size Of The Global Container Glass Market And Its Annual Growth Rate?
The container glass market is projected to experience strong growth in the coming years, reaching $53.34 billion by 2028, with a compound annual growth rate (CAGR) of 5.7%. This growth during the forecast period is attributed to the surge in demand for sustainable and eco-friendly packaging solutions, the expansion of the e-commerce sector, an increasing preference for glass in premium and luxury product packaging, the adoption of lightweight and innovative glass manufacturing technologies, and a rise in the use of glass within the pharmaceutical industry.
Growth Driver Of The Container Glass Market
The rising demand for fast-moving consumer goods (FMCG) and alcoholic beverages is anticipated to drive the growth of the container glass market. This increase in demand is attributed to factors such as heightened awareness, easier access to products, changing lifestyles, and rising income levels. As a result, the demand for container glass is expected to grow, as it offers an effective and safe packaging solution for these products. FMCG goods and alcoholic beverages, being non-durable items, require packaging like container glass to protect them from damage caused by sunlight, dust, temperature fluctuations, and contaminants. Additionally, container glass preserves the nutritional value of products, preventing issues like protein denaturation and fat oxidation due to its excellent neutral properties.
Which Market Players Are Driving the Container Glass Market Growth?
Key players in the market include Ardagh Group SA, Amcor PLC, Consol Glass Ltd, Owens-Illinois Inc, Saverglass Group, Amcor Limited, FrigoGlass, Vidrala SA, Central Glass Co, Vitro, Vidrala, Hindusthan National Glass & Industries Ltd, Gerresheimer AG, Verallia, Vetropack Group, AGI Glasspack Ltd, Bormioli Rocco, Stoelzle Glass Group, Piramal Glass Private Limited, HEINZ-GLAS GmbH & Co, Koa Glass Co Ltd, Nihon Yamamura Glass Co Ltd, Saint-Gobain, O-I Glass Inc, AGC Inc, Fuyao Glass Industry Group Co Ltd, Guardian Industries, PGP Glass Limited, Toyo Seikan Group Holdings Ltd., Zwiesel Glas Group.
What Are the Emerging Trends Shaping the Container Glass Market
Leading companies in the container glass industry are pursuing a strategic partnership approach to offer innovative and sustainable packaging solutions that address the evolving needs of their customers while minimizing environmental impact. Strategic partnerships involve companies leveraging each other’s strengths and resources to achieve mutual benefits and drive success.
How Is The Global Container Glass Market Segmented?
1) By Glass Type: Borosilicate-Based, Soda-Lime-Silica-Based
2) By Forming Method: Blow And Blow, Press And Blow, Narrow Neck Press And Blow
3) By End User: Food And Beverages, Cosmetics And Personal Care, Pharmaceuticals, Chemical, Other End-Users
Geographical Insights: Asia-Pacific Leading The Container Glass Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Container Glass Market Definition
Container glass is a type of glass specifically designed for producing glass containers such as bottles, jars, drinkware, and bowls. It is commonly used for storing liquids, food, and other products. Container glass possesses properties like recyclability, reusability, and a neutral reaction, which help preserve food and beverages for extended periods while preventing contamination.
Container Glass Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global container glass market report covering trends, opportunities, strategies, and more
The Container Glass Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on container glass market size, container glass market drivers and trends and container glass market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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