March 1, 2024

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

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.