Insights of Glass Packaging Market in Global Industry Development and Forecast to 2025
Packaging is a technology that involves enclosing and protecting various types of products for storage, distribution, sale and use. The increasing demand for healthy, safe, convenience food & beverages and major growth of alcoholic beverages and beer industry in the recent past, especially in Asia Pacific, Europe and North America has been rapidly driving growth of the global glass packaging market. Glass packaging products can keep consumables safe and healthy for prolonged periods of time, as glass is largely non-reactive with most products. Also, it inhibits chemical interaction between the liquid and body. Glass products can be 100% recycled and reused. Also, 80% of recycled glass can be made into new glass products as well. Glass packaging is widely used for the packaging of beverages (alcoholic and non-alcoholic) and pharmaceutical products. There are four types of glass used in glass packaging, namely, Type I glass, Type II glass, Type III glass, and Type IV glass. The type I and Type III glass packaging are mostly preferred by end users.
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The type I glass products are produced from borosilicate and are largely used by pharmaceutical and chemical companies, as they have the ability to keep chemicals safe. The type III glass are made from untreated commercial soda lime glass, and are highly preferred by the food and alcoholic beverages end-users. This is due to their ability to keep the consumables safe and healthy for huge period of time. The increasing consumption of alcoholic beverages and beer are making the type III glass products as the dominant product type segment, accounting over 83% in terms of value, in the global glass packaging market.
On the basis of product type, the global glass packaging is segmented into bottles, vials, jars, and others. Bottles was the largest product type segment in the global glass packaging market in 2016 and is expected to retain its dominance throughout the forecast period. The glass bottles are widely used by alcoholic beverages (except beer), beer and soft beverages end users. The glass bottles have the ability to keep the consumables fresh, safe and healthy for a longer period of time.
The plastic bottles are unable to keep consumables safe for a longer period of time and also there is a lot of chemical interaction, which in turn is encouraging alcoholic beverages & beer manufacturers to opt for glass bottles for packaging. Moreover in food & soft beverages industry, glass provides the highest level of protection and the quality and freshness of food is maintained. Also, in pharmaceuticals industries as well, the product protection and safety are of the utmost importance. Owing to this, the inert material, namely, glass is the most ideal packaging option for the pharmaceutical industry, as glass packaging safeguards contents from oxygen ingress and cross-contamination, hence providing the superior protection.
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The global glass packaging market was valued at US$ 53,616.38 million and 72,030.27 kilo tons in 2016 and is expected to expand at a CAGR of 4.9% in terms of revenue and 4.8% in terms of volume during 2017 – 2025.
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