Glass Packaging Market Size To Rise USD 93.79 Bn By 2032

09 Oct 2023

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Table of Content

1. Market Overview 2. Regional Snapshot 3. Report Highlights 4. Glass Packaging Market Report Scope: 5. Market Dynamics 6. Recent Developments: 7. Major Key Players: 8. Market Segmentation:

The global glass packaging market size surpassed USD 58.97 billion in 2022 and is projected to rise to USD 93.79 billion by 2032, anticipated to grow at a CAGR of 4.8 percent during the projection period from 2023 to 2032.

Market Overview

Glass packaging is observed to reduce hazardous effects caused by packaging while providing the necessary protection and functionality required for packaging. Glass packaging market takes into account the entire lifecycle of the packaging, from raw material extraction and production to disposal, and seeks to minimize the environmental impact at each stage. The glass packaging market is being driven by rising consumer and business awareness of the ecological effects of packaging, as well as the need to reduce waste and conserve resources. Governments are also becoming more supportive of sustainable packaging initiatives, providing incentives and regulations to encourage environmentally friendly practices.

Regional Snapshot

Asia Pacific holds the dominating share of the glass packaging market. The shifting focus towards sustainability in multiple industries is observed to fuel the growth of the glass packaging market in Asia Pacific. Many countries in the region are implementing government initiatives to reduce plastic waste and promote the use of sustainable packaging solutions, which is driving the demand for glass packaging. The Asia Pacific region is home to a large and diverse range of end-use industries, including food and beverage, pharmaceuticals, cosmetics, and more, which are driving the demand for glass packaging solutions.

The Chinese government has implemented a waste sorting system that requires households and businesses to separate their waste into different categories, including glass, plastic, and paper. This initiative has led to an increase in the recycling and reuse of glass packaging. On the other hand, the Japanese government has set targets for reducing plastic waste and increasing the use of sustainable packaging alternatives, including glass. The government has also implemented a deposit-refund system for glass bottles, which has helped to increase the recycling rate for glass packaging.

North America is the second-largest market for glass packaging solutions. The growth of the glass packaging market in North America is expected to continue with the expansion of end-users, including pharmaceutical and cosmetics applications. Governments promoting sustainable packaging solutions act as a significant driver for the growth of the glass packaging market in North America. California has implemented a 100% ban on the consumption of single-use plastic in order to promote sustainability; this step is observed to increase the development and utilization of glass packaging by various end-users in upcoming years.

Report Highlights

• By product, the bottles segment is expected to maintain its dominance during the projected timeframe. The rapid innovation in glass bottle material, especially for alcoholic beverages, supports the segment's growth. On the other hand, the jars and containers segment is expected to account for the fastest growth owing to the rising consumption of glass jars and containers by the food industry, along with the improved demand for preserved food products that require a sustainable packaging solution.
• By end-user, the food & beverages segment dominated the global glass packaging market in 2022; the segment is expected to maintain its growth at a significant rate owing to the rising consumption of alcoholic beverages across the globe. Moreover, the ongoing innovation in glass material, including thin-glass material, bioactive glass, and ultra-clear glass, especially for beverages, is expected to boost the segment’s growth during the forecast period. On the other hand, the personal care and cosmetics segment will register a noticeable growth during the projected timeframe. Product transparency, sustainability offered through packaging, and proper product protection are a few factors to support the development of the personal care and cosmetics segment. Pharmaceuticals are expected to remain the most lucrative segment during the forecast period owing to the rising demand for transparent packaging for solid and liquid dosages.

Glass Packaging Market Report Scope:

Market Dynamics

Driver

Rising demand from pharmaceuticals sector

Pharmaceuticals products are sensitive that require protection from various external factors such as light, moisture, and temperature. Glass packaging provides an excellent solution as it is inert, impermeable, and transparent, which protects the products from environmental factors that could affect their stability, efficacy, and shelf life. Glass is a sustainable material that is 100% recyclable, making it an environmentally friendly packaging option.

As pharmaceutical companies are becoming increasingly aware of their environmental impact, glass packaging is gaining popularity as a sustainable packaging solution. Overall, the rising demand from the pharmaceutical sector is driving the growth of the glass packaging market by providing a reliable, safe, and secure packaging solution that meets regulatory requirements, protects products, and includes branding opportunities. As the pharmaceutical industry continues to grow, the demand for glass packaging is expected to increase, driving growth and expansion of the market.

Restraint

High cost of manufacturing

Glass packaging requires a significant amount of energy and resources to manufacture, which can drive up production costs. This includes costs associated with raw materials, energy, labor, and transportation. The capital investment required to set up a glass manufacturing facility can be significant, which can limit the number of companies that can enter the market. This can create barriers to entry, limiting competition and potentially leading to higher prices. Due to the high production costs of glass packaging, it can be more expensive compared to alternative packaging materials such as plastic or paper. This can make it less price-competitive, which can limit its adoption in cost-sensitive industries or applications.

Opportunity

Expansion of end-users

Glass packaging is versatile and can be used for a wide range of products, from food and beverages to pharmaceuticals and cosmetics. The expansion of end users can open up new applications for glass packaging, creating new opportunities for manufacturers. The expansion of end users also allows glass packaging manufacturers to diversify their product offerings.

By serving a broader range of industries and customers, glass packaging manufacturers can reduce reliance on a single market and mitigate risk. With a larger pool of end users, glass packaging manufacturers can offer a more extensive range of customization options to meet the unique needs of each customer. This customization can help businesses differentiate themselves in a crowded marketplace and create stronger customer relationships.

Challenge

Limited flexibility in designing

Glass is considered one of the most durable materials. However, the manipulation of glass for flexible designing is observed to be tough as compared to plastic, metal, or other packaging materials; this creates a challenge for market players to develop innovative designs and shapes. This can limit the design possibilities for glass packaging, making it less appealing to companies looking for unique and innovative packaging solutions. This also limits the customization of glass packaging according to consumer preferences.

Thus, limited flexibility options in designing with glass materials, especially for packaging purposes, create a challenge for the growth of the glass packaging market. To overcome these challenges, manufacturers are focusing on innovative processes and technological advancements for glass packaging solutions.

Recent Developments:

• In January 2022, Verescence announced its collaboration with What Matters, a startup company, to launch 100% recyclable bottles with non-slip effects. The new product by Verescence utilizes soft-touch coatings for non-slip effects. With this launch, What Matters aims to provide new glass packaging technology to the market.
• In July 2022, a dedicated player in the primary packaging of cosmetics and personal care products, Baralan, announced the launch of the Claudette Large Series, which features a collection of unique glass bottle collections in slim and cylindrical shapes. The new series of glass bottles by Baralan features heavier glass bottoms for an aesthetic and stylish look.
• In November 2022, the leading European company, Verallia, announced that the company had completed its acquisition of 100% of the Capital of Allied Glass. With this strategic acquisition, Verallia aims to re-imagine glass for a sustainable future.

Major Key Players:

• KOA Glass Co
• Amcor Plc
• Vitro Packaging
• Westpack LLC
• Piramal Glass Private Limited
• BA Glass B.V.
• Verallia
• Nihon Yamamura Glass Co ltd

Market Segmentation:

By Product

• Bottes
• Jars & Containers
• Ampoules Vials
• Others 

By End-User

• Food & Beverages
• Pharmaceuticals
• Personal Care & Cosmetics
• Others

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