Transparency Market Research has published a new research report titled “Glass Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020” to their report store.
Albany, NY -- (SBWIRE) -- 12/19/2016 -- With the presence of a sizeable number of players and raw material suppliers, the global glass packaging market is highly fragmented, finds Transparency Market Research (TMR) in a market intelligence report. As a result of this, the bargaining power in the market is relatively high. The global glass packaging market is extensively capital intensive with an expensive manufacturing process, technology, and equipment. The barriers to entry for new market players is also significantly high. The competition level among the leading companies is expected to rise over the forthcoming years as manufacturers will strive to gain an established position in the market. The three key players, Owens-Illinois Inc., Ardagh Group, and Saint-Gobain accounted for a share around 28.6% in the global glass packaging market in 2013.
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The global glass packaging market is expected to exhibit a promising CAGR over the forecast period. The market stood at US$43,904.7 mn in 2015 and is likely to rise to a valuation of US$55,238.5 mn by the end of 2020.
Alcoholic Beverages to Emerge as Key Revenue Generator for Global Glass Packaging Market
In terms of application, the global glass packaging market has been segmented into alcoholic beverages, beer, food & beverages, and pharmaceuticals. Amidst these, alcoholic beverages (excluding beer) dominated the market in 2013 and is likely to maintain its dominance in the market until 2020 with a share of 45.4% in the same year. Alcoholic beverages are manufactured through the fermentation of several food crops and various grains over a long period of time. During this process and even after bottling, several chemicals are formed in the alcoholic beverages. Glass is employed for the packaging of alcoholic beverages to reduce the effect of light and heat on the beverage, thus extending its shelf life. Furthermore, glass is considered to be chemically stable, therefore it lowers the chances of alcohol leaching in the glass. The market for glass packaging in the alcoholic beverages segment is expected to be driven by the growing demand for wine due to the numerous health benefits associated with it.
Region-wise, the global glass packaging market has been segmented into North America, Asia Pacific, Europe, and the Rest of the World. Among these, Asia Pacific emerged dominant in 2013 and is likely to maintain a lead until 2020 accounting for a share of 39.1% in the same year. The leading markets for glass packaging in the region are India, Japan, and China owing to the robust economic growth in these countries. According to a TMR analyst, "The key factors driving the growth of the glass packaging market in Asia Pacific are rising disposable income of consumers, the progress of the hospitability industry, changing preferences and lifestyle of consumers, and increasing tourism." Furthermore, manufacturers of glass packaging operating in Asia Pacific are likely to gain from the innovation being made in the development of light weight glasses.
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Proliferating Employment of Glass Packaging across Several Industries to Bode Well for Market
Owing to the rise in the disposable incomes of consumers across the globe and easy availability, the consumption of beer has gained momentum over the last couple of years. As a result of this, the demand for glass packaging is also expected to intensify to meet the packaging needs of the beer manufacturers. Furthermore, the burgeoning demand for glass in pharmaceutical packaging is also anticipated to boost the global consumption of glass packaging. However, the global market for glass packaging is likely to be adversely impacted by the increasing popularity of plastic packaging as plastic is cheaper as compared to glass.
This review is based on a Transparency Market Research report titled, "Glass Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020."
Glass Packaging Market - Application Analysis
-Alcoholic beverages (excluding beer)
-Food & beverages
-Others (Including personal care products and chemicals)
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