Glass Packaging Market share by applications and regions for 2017- 2024

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Glass Packaging Market share by applications and
regions for 2017- 2024 Global Market Insights,
Inc.
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• Global Market Scenario of Packaging Industry

• Glass Packaging Market has been undergoing a
  plethora of changes over the recent years with
  regards to innovations, enhanced branding, and
  unconventional packaging formats. Glass being
  100 recyclable, is one of the most trusted and
  proven packaging solutions related to health,
  taste, and sustainability.
• In fact, statistics claim that glass is the only
  extensively used food packaging material that
  have been granted with the highest standard
  certification, GRAS (as a recognized safe
  material) by the Food and Drug Administration. 
• The impermeable and chemically unreactive
  characteristics of glass materials is further
  enhancing the application scope of glass material
  packaging industry across various domains,
  pharmaceutical and alcoholic beverages being at
  the pinnacle.  As per a recent market speculation
  put forward by Global Market Insights, Inc.,
  global glass packaging industry will surpass a
  valuation of USD 65 billion by the end of 2024,
  with an estimated CAGR of 4.5 over 2017-2024.

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• Worldwide, glass packaging industry is fragmented
  with leading six companies representing only 30
  of the revenue share. In this competitive
  scenario, it has been observed that industry
  biggies are adopting mergers and acquisitions and
  strategic collaborations to sustain their
  geographical presence.  Companies are
  continuously trying to expand their production
  capacities by incorporating innovative products
  that are highly customized. Some of the renowned
  names in glass packaging market are Saint-Gobain,
  Owens-Illinois Inc, Gerresheimer AG, Vetropack
  Holding AG, Hindustan National Glass (HNG),
  Ardagh Group S.A., Piramal, Stölzle-Oberglas GmbH
  and Nihon Yamamura Glass Co., Ltd.
• Pharmaceutical sector is one of the most
  outpacing domains actively driving glass
  packaging industry commercialization. The prime
  factor that can be credited for the market
  proliferation is the unprecedented rate of
  innovations outlining the business landscape.

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• 360 Industry Analysis

• One such breakthrough is Cornings revolutionary
  pharmaceutical glass packaging solution, Valor
  Glass. As it is proclaimed, Valor Glass offers
  superior strength, enhanced chemical durability,
  chemical resistance, assuring better protection
  of the drugs. Recently Corning and Stevanato
  Group have entered a strategic partnership
  focusing on merchandizing Cornings Valor Glass
  to the glass packaging market.  
• Another instance of such collaborations which is
  expected to be a potential boost for the overall
  industry dynamics from pharmaceutical
  applications is the business alliance between
  Merck, Corning, and Pfizer over Valor Glass
  packaging. Keeping into consideration the chain
  of positive disruptive trends, it is certain that
  pharmaceutical sector will contribute a
  significant portion toward the global glass
  packaging industry in the coming years, with a
  projected CAGR of over 4 over 2017-2024.

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• Regional Analysis

• The rising consumption of beer especially across
  APAC belt can be primarily attributed for the
  market revenue.  In this regard, it is prudent to
  note that Asia Pacific almost represented 40 of
  the glass packaging industry in 2016. 
• In fact, as per statistics, consumption of beer
  in Mexico and Vietnam have experienced an
  increase of around 6.5 and 7.5 respectively
  over the period of 2014-2015.

• The industry is faced by several challenges, the
  prime being the rising popularity of plastic
  packaging which has observed rapid advancements
  in recent years. The linear growth curve of
  plastic packaging market can be attributed to
  some of its adhered benefits like easy
  transportation, cost effectiveness, durability,
  and aesthetic features. However, with increasing
  consumer preference for sustainable packaging
  materials having a high grade environmental
  viability, glass packing market is forecast to
  witness an appreciable growth in the years ahead.

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