Valley Cottage, NY -- (SBWIRE) -- 12/04/2017 -- Compared to plastic bottles, glass bottles demonstrate diminutive competency with respect to their characteristics as a packaging commodity. Despite this, the global demand for glass bottles continues to surge like the effervescence of carbonated drinks. Consumers in developed markets such as Europe still prefer buying beer, wine or non-alcoholic beverages in glass bottles. Unlike plastic bottles, glass bottles continue to be identified for their characteristic advantage in terms of hygiene, aesthetic appeal, durability, and being impermeable.
According to Future Market Insights, the demand for glass bottles will soar steadily over the next five years. By 2022, the global glass bottles market is anticipated to have reached a value of US$ 71 billion, reflecting a CAGR of 4.9%. The report also projects that Asia-Pacific excluding Japan (APEJ) will remain at the forefront of market expansion during the forecast period.
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The report reveals that APEJ will remain the largest market for glass bottles through 2022. The region will particularly exhibit higher participation of companies, considering the competitive advantage of manufacturing glass bottles in low-wage countries such as China and India. The APEJ region is also viewed lucrative for manufacturing of glass bottles owing to ample availability of resources, increasing production of raw silica, and favourable industrial regulations.
North America, on the other hand, will be exhibiting a moderate growth in its glass bottle sales. Despite the booming food & beverage consumption in the US, North America's glass bottles sales are anticipated to procure close to US$ 15 billion revenues by the end of 2022. Europe is also anticipated to show sluggish growth in terms of glass bottle sales across packaging applications.
The report projects that application of glass bottles in packaging of ready-to-drink beverages will gain impressive traction in 2017 and beyond
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In 2017, more than one-fifth share of global revenues procured will be accounted by application of glass bottles in packaging of beers. Throughout the forecast period, manufacturers will focus on producing glass bottles through moulding processes. Towards the end of the forecast period, tubular manufacturing of glass bottles will witness a considerable dip in terms of adoption.
The report has profiled leading manufacturers of glass bottles in the global market. Companies profiled in the report include: Central Glass Co., Ltd., Consol Glass (Pty) Ltd., Vitro SAB de CV, Frigo Glass Jebel Ali Fzco, Owens-Illinois, Inc., Hng Float Glass Limited, Ardagh Group SA, AGI Glasspack Limited, Vidrala SA, and BA Vidro, S.A.