Beverage, food and chemical packaging in jars and glass bottles are known as glass packaging. Glasses provide outstanding barrier features. They don’t act in response with other chemicals and are greatly sterile and re-utilizable. Glass is widely utilized in the packaging of beverages and food, aesthetics, personal care products, ciders, wines, beers, etc. Glass bottles are of different sizes, shapes and colors.
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They are apt for different applications. Glass packaging is utilized for the sector of beverages and food, primarily owing to its non-oxidization feature. This ensures that the food product remains healthy for lengthier time periods. Beer is one of the primary applications of glass packaging. Glass decreases the harmful effects of UV rays on beer, thereby making beer fit for consumption.
One of the significant propellers of the glass packaging market is expansion in the beer market of Europe and Asia Pacific. Growing disposable earnings, beers at different costs and pressure of western morals and traditions would increase the demand for beers in Asia Pacific. Nations, like Norway and Poland are predicted to experience the swiftest beer market expansion. This is anticipated to steer the sales of the glass packaging market.
The worldwide market also has applications in medicine and healthcare. Glass is bio-friendly, non-poisonous and recyclable. Thus, expansion in the sector of healthcare and medicine is also projected to drive the demand for the glass packaging market in the coming five years. Glasses have chemical constancy and other advantages mentioned above. The utilization of plastics as a substitute to glass for prime applications can get in the way of the glass packaging market through the forecast phase.
With regard to income generated, the market was likely to be valued at about USD 48, 966 million in 2013. It is anticipated to rise to around USD 64, 799 million by 2020. The glass packaging market is projected to register a CAGR of about 4 percent during the forecast phase. Increased demand for glass packaging across various application and geographical markets is also predicted to drive further demand for the glass packaging market.
Glass is non-porous and apt for different applications due to the same. The various advantages of glass augur well for the glass packaging market and steer it forward.
Among the various applications of the glass packaging market, alcoholic beverages occupied the first place in 2013. These beverages captured around 58 percent of the total income. Pharmaceutical is estimated to display the maximum development. It is expected to rise at 4.2 percent CAGR during 2014-2019. Escalated awareness regarding fitness and enhanced living would augment the demand for quality and improved packaging. This is likely to drive the sector of pharmaceutical ahead.
Asia Pacific leaded the worldwide glass packaging market in 2013. The region captured nearly 33 percent of the entire income. It is projected to undergo the speediest expansion in the years ahead. The glass packaging market in Asia Pacific is mainly leaded by India and China. This is in view of their wide consumer base.
Information Source: Grand View Research