Glass Packaging Market trends research and projections for 2017- 2024

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Glass Packaging Market growth drivers in 2017
Challenges by 2024
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• Overview

• The worldwide Glass Packaging Market stood at USD
  45 billion in 2016 and is anticipated to exceed a
  valuation of USD 65 billion by 2024, growing at
  an annual rate of 4.5 over 2017-2024. Over the
  past few decades, global glass packaging industry
  has provided the pharmaceutical and food
  beverage sectors with remarkable innovations in
  their packaging solutions.
• Glass is a 100 recyclable product that can be
  reused without any deprivation in the quality or
  the purity of the material. Owing to its
  negligible chemical interaction rate, glass has
  for long been a favorite material category used
  in packaging of medicines and other beverages.
• The very recent collaboration between Merck,
  Pfizer, and Corning Inc., has significantly
  accelerated the innovation trends in the
  pharmaceutical glass packaging market. Once such
  breakthrough by Corning in glass container
  packaging is Valor Glass engineered for the
  storage and conveyance of advanced injectable
  drugs.
• Valor Glass packaging exhibits superior strength,
  damage resistance, chemical durability, and
  higher levels of quality assurance which is
  fueling its demand in the medical fraternity.
  With regards to the aforementioned factors,
  healthcare sector can rightly be termed as one of
  the leading drivers for the expansion of glass
  packaging industry.

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• As per estimates, glass packaging market share
  from pharmaceutical applications is anticipated
  to record a CAGR of more than 4 over 2017-2024.
   
• Alcoholic beverage is set to emerge as a key
  sector generating lucrative avenues for the
  global glass packaging industry, having procured
  a major chunk of the total demand over the past
  few years. Another chief factor stimulating the
  glass packaging demand is the rise in global
  consumption of beer.
• As dark shade glass helps in deflecting the UV
  rays and keeps the beer from being skunky,
  glass bottles are most commonly used in the
  packaging of beer. Easy availability, cost
  effectiveness, and influence of western lifestyle
  have increased the consumption of beer
  particularly in Mexico and Vietnam recording the
  highest increase of 6.5 and 7.5 respectively
  form 2014-2015.
• Eastern Europe and Asia Pacific are the two
  prominent regions spectating a significant rise
  in the consumption of alcoholic beverages and
  pharmaceuticals. Subject to this fact, glass
  packaging industry is expected to show robust
  growth in these regions over the coming years.

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• 360 Analysis

• Eastern Europe and Asia Pacific are the two
  prominent regions spectating a significant rise
  in the consumption of alcoholic beverages and
  pharmaceuticals. Subject to this fact, glass
  packaging industry is expected to show robust
  growth in these regions over the coming years. As
  stated by the report on glass packaging market,
  Asia Pacific represented the largest market
  worldwide, closely followed by Europe. Asia
  Pacific accounted for more than 40 of the
  overall glass packaging market in 2016, subject
  to huge customer base and growing hospitality
  sector in China, India, Thailand, and other
  countries.
• One of the largest threats faced by glass
  packaging industry is the growth of plastic pouch
  packaging. Factors such as less brittleness,
  light weight, and easy handling transport of
  plastics pouches is likely to make a dent in
  glass packaging market share. However,
  proliferation of various technological
  breakthroughs in the glass packaging industry has
  allowed the products to become much lighter in
  weight and easy for transportation.
• Moreover, despite the increasing popularity of
  plastic packaging materials, customers are
  preferring highly sustainable products with high
  grade of recyclability, on account of which glass
  is still the most preferred packaging material.

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Competitive Trends

• The notable industries in Glass Packaging are
• Saint-Gobain,
• Gerresheimer AG,
• Owens-Illinois Inc,
• Vetropack Holding AG,
• Ardagh Group S.A.,
• Hindustan National Glass (HNG),
• Piramal,
• Stölzle-Oberglas GmbH
• Nihon Yamamura Glass Co., Ltd.

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