July 27, 2024
Packaging

Food & Beverage Segment Is The Largest Segment Driving The Growth of Glass Packaging Market

Karan Mukherjeeby Karan Mukherjee

The global Glass Packaging Market is estimated to be valued at US$ 63.8 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Glass packaging refers to packaging products made from glass that provides clear visibility and durability to packaged foods and beverages. Glass is inert, non-porous and impermeable which makes it suitable for packaging liquids and foods.

Market Key Trends:

One of the key trends in the glass packaging market is increasing demand for lightweight and customized glass packaging solutions from various end-use industries. Glass packaging manufacturers are focusing on developing innovative and lightweight glass packaging without compromising on barrier properties and durability. For instance, manufacturers are utilizing thinner glass containers and tabs to reduce the weight of glass packaging. Customized glass packaging solutions with printing, embossing and unique shapes are also gaining traction. Rapid growth of alcoholic beverages and premium food brands is further fueling the demand for customized and premium glass packaging.

SWOT Analysis

  • Strength: Glass packaging is 100% recyclable and reusable, making it an eco-friendly and sustainable packaging solution. It can withstand extreme temperatures and does not react with the contents it holds, making glass ideal for food and beverage packaging.
  • Weakness: Glass packaging is heavy and bulky compared to flexible packaging such as plastic, increasing shipping costs. Glass is fragile and prone to breakage during transportation.
  • Opportunity: Growing consumer demand for eco-friendly and sustainable packaging provides an opportunity to increase the share of glass packaging in industries such as food and beverages. Increasing health awareness is driving the demand for glass packaging for nutraceuticals and pharmaceuticals.
  • Threats: Stringent regulations regarding recycling targets for industries pose a threat to the demand for non-recyclable packaging such as plastic. Shift towards lighter weight packaging such as aseptic cartons and plastic pose challenges for glass packaging.

Key Takeaways

The global glass packaging market is expected to witness high growth, exhibiting CAGR of 3.7% over the forecast period, due to increasing demand for sustainable packaging from industries such as food and beverages.

Market size: The glass packaging market size for 2023 is estimated to reach US$ 63.8 Billion. The market is driven by growing preference of consumers and industries for recyclable and reusable packaging made from natural materials.

Regional analysis: Asia Pacific dominates the global glass packaging market owing to presence of fast growing economies such as India and China. Large population and rapid urbanization in the region is fueling consumption of packaged food and beverages, propelling the demand for glass packaging. Other major regions include North America and Europe.

Key players: Major players in the glass packaging market are Amcor Ltd, Ardagh Group, Gerresheimer, Hindustan National Glass & Industries Ltd, Koa Glass Co. Ltd., Owens Illinois Inc, Piramal Glass Limited, Saint-Gobain, Heinz-Glas, Wiegand-Glas, Vidrala SA, Vitro Packaging focusing on sustainable production and offering innovative forms of glass packaging catering to industry and customer requirements.

Karan Mukherjee

Karan Mukherjee

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Self-heating Food Packaging Market

Self-heating food packaging has gained significant traction in the recent years owing to growing preference for convenient food products. Self-heating food packaging helps maintain the food temperature without any external heating source by utilizing the natural chemical reaction between oxidizing agents and fuels embedded in the packaging material. This eliminates the need for microwaves or stoves, allowing users to enjoy hot meals anytime, anywhere. The global self-heating food packaging market is driven by rising demand for convenience foods among busy consumers and travelers. Self-heating food packaging offers protection to food items from contamination while keeping them warm for extended durations. The products associated with self-heating food packaging include cups, cans, pouches and bags for foods like meals, soups and beverages. The global Self-heating Food Packaging Market is estimated to be valued at US$ 70.69 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends witnessed in the global self-heating food packaging market has been the rising demand for eco-friendly products. Manufacturers are focusing on developing more sustainable self-heating food packaging solutions without compromising on product safety and performance. Some players are utilizing biodegradable materials like paper, plant-based polymers and recycling compatible laminates in their products. They are also investing in renewable energy sources and green chemistry principles to produce self-heating food packaging through environmentally-friendly processes. This shift towards sustainable solutions is expected to further propel the demand for self-heating food packaging over the forecast period. Porter’s Analysis Threat of new entrants: The threat of new entrants is moderate. Significant capital investment is required to establish manufacturing facilities and gain market share in this established market. Bargaining power of buyers: The bargaining power of buyers is moderate. There are multiple alternatives available for buyers but high switching costs limit buyers’ bargaining power. Bargaining power of suppliers: The bargaining power of suppliers is moderate. Key raw materials used in self-heating food packaging are commoditized which limits suppliers’ bargaining power. However, suppliers have some control over pricing. Threat of new substitutes: The threat of new substitutes is low. There are limited options that can offer the same convenient features of self-heating packaging. Competitive rivalry: The competitive rivalry is high due to the presence of global leaders with wide geographic presence. Key Takeaways The global Self-Heating Food Packaging Market Growth is expected to witness high growth. Regional analysis: The Asia Pacific region is expected to dominate the global self-heating food packaging market during the forecast period. This can be attributed to growing demand for convenience foods and rising disposable incomes in developing economies such as China and India. Key players operating in the self-heating food packaging market are Ceva, Zoetis, Elanco, Chanelle Pharma Group, and Boehringer Ingelheim International Gmbh, among others.