Glass Container Market to Reach USD 89.3 Billion by 2034 Amid Rising Demand for Safe Packaging Solutions for Medicines

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May 16, 2024, 06:55 ET

The glass container market is driven by a growing preference for sustainable and safe packaging solutions. Environmental regulations and consumer awareness are pushing the use of glass, which is easily recyclable and offers premium aesthetics. The market is expected to see significant growth in Asia Pacific, particularly in China and India, due to rising disposable incomes and focus on food safety. The cosmetics industry, particularly in the Middle East and Africa, is another key driver due to the association of glass with premium quality and product protection.

NEWARK, Del., May 16, 2024 /PRNewswire/ -- According to Future Market Insights, the global glass container market is estimated to reach USD 63.8 billion by 2024. It is projected to witness a CAGR of 3.4% in the forecast period 2024 to 2034. The industry is likely to attain a value of USD 89.3 billion by 2034.

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Rising awareness regarding the harmful impacts of non-degradable materials on the environment has translated into increasing adoption of glass containers. Governments across the globe are focusing on sustainability by implementing strict regulations. This compliance with the directive imposed in several countries is expected to flourish the market. Glass has the ability to be recycled, which serves as an eco-friendly and efficient packaging option.

North America, Asia Pacific, and Latin America are also showing an increasing demand for hygienic and convenient packaging solutions. Changing lifestyles and increasing food safety awareness in China and India are pushing demand for glass containers as safe packaging solutions. The transition toward hygienic and convenient packaging solutions worldwide is augmenting the market as consumers are focusing on safety, freshness, and ease of use in packaging choices.

The cosmetics industry has seen exponential growth driven by high demand for cosmetics and perfumes. Glass containers offer premium and variable packaging solutions for perfumes and play a crucial role in brand differentiation and customer attractiveness. Due to hot and humid climatic conditions, countries in the Middle East and Africa have shown great demand for cosmetics and perfumes.

Glass offers a premium look for cosmetics and fragrance products. It also maintains the integrity and quality of packaged products, further providing an ultimate experience for consumers. Brands are offering aesthetically appealing and unique packaging designs to grab the attention of end-users.

Attractive glass perfume bottles play a key role in seeking customer attention, leading to a high viewer-to-customer ratio. The durability of glass containers ensures safe transportation and prevents penetration of any type of exterior chemicals. Glass being durable preserves the freshness and quality of the product. Rising demand for cosmetics and fragrance packaging is pushing the demand for glass containers.

Key Takeaways from the Global Glass Container Market

Containers made of type 1 borosilicate glass are set to hold more than 1/3rd of the share in the assessment period.
The global market recorded a CAGR of 2.6% during the historical period between 2019 and 2023.
The beverage packaging segment is estimated to hold around 32.6% value share in 2034 by end-use.
Glass bottles are projected to rise at a CAGR of 3.2% by 2034 by product type.
The industry in India is projected to create an incremental opportunity of USD 3.9 billion over the forecast period.
South Africa is likely to record a CAGR of 3.8% during the evaluation period.

"Factors like increasing demand for bottled beverages and premium packaging options for cosmetics products are driving the glass container industry. This trend is in line with data from organizations like the Glass Manufacturers' Association, which reports increasing demand for glass containers across various industries," – says Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights, Inc).

Outline of Important Trends Shaping the Global Market

Rising Awareness of Health and Personal Care

Awareness about health and wellness has emerged as a key factor in propelling the glass container market. Consumers are prioritizing safety and purity for their products. They are hence choosing safe packaging solutions.

Glass, known for its impermeable nature, ensures the integrity of several skincare and healthcare products. The transparency and clarity offered by glass create a sense of trust and confidence among customers while making purchase decisions.

Quality and purity of drugs have always been a concern for pharmaceutical companies. Characteristics like temperature and chemical resistance assures in maintaining the purity of medicines. Hospitals, pharmaceutical companies, research centers, and other healthcare facilities are mainly using glass vials, bottles, syringes, and ampoules, which has contributed to the industry's expansion.

The rising prevalence of chronic diseases has further resulted in an increasing demand for healthcare services. The outbreak of viruses such as COVID-19 has also generated a high demand for vaccination, which is fueling the need for glass containers.

Growing Consumption of Bottled Alcoholic Beverages

The growing demand for alcoholic beverages like wines, beers, and spirits has pushed the adoption of glass bottles and containers. Lightweight and premium glass bottles, embossing brand logos, and holographs have been able to attract a huge population base to buy the products.

It is creating a strong brand image for beverage manufacturing companies. For instance, in November 2023, Vidrala S.A. launched BD NOVA LITE, the lightest Bordeaux cork-finished wine bottle weighing 360 gm. BD NOVA LITE will offer an 8% reduction in weight in comparison to other glass bottles.

Competitive Landscape

Owen-Illinois Inc., Ardagh Group S.A., Anchor Glass Container Corporation, Adelphi Healthcare Packaging, Gerresheimer AG, Saverglass SAS, Vidrala S.A., Toyo Seikan Group Holdings, Ltd., Verallia, Schott AG, and Nipro Corporation are few of the noticeable players in the market. The Tier 1 players in the market hold 28 to 32% of the share. These include Ardagh Group S.A., Owens-Illinois, Inc., Verallia, and Vidrala S.A.

For instance,

In February 2024, Ohio-based Owens-Illinois, Inc. introduced a new edition of lightweight wine bottles in France with reduced carbon impact. It plans to reduce carbon emissions by 25% with this launch.

Purchase now and gain full access to the Glass Container Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.

Get More Insights into the Global Glass Container Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global market for glass containers, analyzing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034. The study reveals market growth projections based on product type (glass bottles, glass jars, glass vials, ampoules, and syringes), material (type 1 (borosilicate glass), type 2 (treated soda lime glass), type 3 (regular soda lime glass), and type 4 (general purpose soda lime glass), capacity (Up to 50 ml, 51 to 250 ml, 251 to 1000 ml, 1001 to 2000 ml, and above 2000 ml), distribution channel (direct sales, distributors, retailers, and e-retail), and end-use (cosmetics and perfumery, beverage packaging, food, pharmaceuticals, and others) across several countries.

About the Packaging Division at Future Market Insights

The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs and formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 3,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

About the Author:

Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights, Inc.) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.

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