Demand for glass containers is strongly influenced by the alcoholic beverage industry and changing behaviour pattern in consumers will fuel the growth of the market.
DUBAI, UAE / ACCESSWIRE / February 3, 2021 / Future Market Insights: FMI glass container market report projects this industry to reach a high valuation during the forecast period of 2021-2031" with a noteworthy CAGR of more than 3.5%. The report tracks the global sales of glass containers in 20+ high-growth markets, along with analysing the impact COVID-19 has had on the beverage industry in general, and glass containers in particular.
The market has made substantial gains in the recent past, as a result of development of lightweight products with beautiful designs and vibrant colour combinations at lower production costs. Due to COVID-19, the industry despite being affected, have responded to the crisis to accommodate increasing demand for food and medicines during the quarantine. However, the market is still prone to losses because pandemic caused disruptions in food & beverage facilities such as dine-in restaurants and bars. A major turnaround is projected but that is expected to be sluggish as customers remain reluctant to dine out due to health and hygiene concerns.
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This market is expected to gain momentum in the upcoming future, as demand for luxury packaging market is gaining importance across the world.
With US estimated to remain as one of the most lucrative markets throughout the course of the forecast period, Asian countries like China will drive the market in the projected years. Due to the COVID-19 outbreak there have been an increase in demand for medical equipment's and glass made items like ampoules, vials, bottles, and others in China. The demand increases with the surge in the number of COVID-19 cases. Besides that, many factors like the increase in consumption of alcoholic beverages is expected to fuel the market growth further.
"The need for establishing production lines with advanced systems so as to respond to increasing requests for customization with high efficiency and small lead time have left profound impact on the market. These efforts have been historically crucial in fuelling the demand for glass container." Remarks Future Market Insights analysts.
Key takeaways from Future Market Insights' Glass containers market study
By product type, lightweight bottles will be highly preferred by industries and customers alike, owing to the change in behaviour pattern in consumers and rising environmental concerns
- As glass is chemically inert, demand for pure, green and sustainable packaging is driving sales of glass containers.
- US to be a lucrative market, owing to its increase in alcohol, malt beverage and juice consumption by its people.
- Germany is expected to remain one of the highly valuable market for glass containers, because the distribution of alcohol consumption is heavily concentrated in the country.
- France to show a significant rise in sales due to the demand of luxury packaging items for cosmetics industry.
- UK to show a steady Y-o-Y growth as glass accounts for a major share of soft drink packaging.
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Glass containers market: prominent drivers
- Increase in the rise of the beverage and luxury items industry, which is steering the growth of glass containers market.
- Rising healthcare spending will create lucrative opportunities and provide a significant ground for the proliferation of glass manufacturers across key regions.
- Glass bottles are estimated to dominate the market, according to product type, due to the packaging demand from the beverage industry.
- Amber glass containers are expected to gain popularity due to its protection against the UV rays
- Vendors are focusing on environmental sustainability concerns, which will increase the demand of lightweight packaging, thereby minimizing the use of raw materials and the expense of logistics.
Glass containers market: Key restraints
- Reluctance of the consumers to dine out due to the pandemic fear still continues to pose as a problem in the industry's growth from the food and beverage section.
- Glass, being brittle in nature, faces the risk of getting broken during the shipment of these items, which makes it unfavourable to be transported over long distances, as compared to the plastic containers.
- Glass is also more dangerous when broken as compared to other packaging material. Broken glass can cut a person's skin and can at times, also be life threatening. This is a danger that is very true for those working in factories, shops and even transportation and packaging operative who are responsible in handling them.
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Competitive Insights
There is a preference of the glass containers over metal and plastic ones due to rising environment concerns. This surge in demands will create the entries of new companies into this sector and the key market players are projected to continue their expansion during the years 2021-2031
For instance:
- In January 2020 - Ardagh Group S.A., a corporate unit of the group and the biggest domestic glass bottle producer for the wine industry in the US launched six new sophisticated glass wine bottle designs.
- In November 2019 Owens-Illinois established a glass collection centre at its headquarters. The glass was gathered by O-I and shipped for processing to the Rumpke Recycling plant. In order to be repurposed into fiberglass or fresh wine and beer packages, some of the recyclables will later be delivered to the glass production sites of O-I in Zanesville, Ohio, and Lapel, Indiana.
FMI has interviewed some of the leading companies operating in the market like Ardagh Group S.A, Amcor Plc, Consol Glass (Pty) Ltd, Owens-Illinois, Inc., etc.
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