LONDON, Sept. 21, 2015 /PRNewswire/ -- The Global Glass Packaging Market is expected to grow from $49.61 billion in 2015 to $61.24 billion by the end of 2020 at a CAGR of 4.3%. This is being driven by the growing demand from the Asia Pacific region and increasing demand from the application segments.
Glass is one of the most preferred materials for packaging of food, beverages, pharmaceuticals, personal care products and others. Properties like chemical inertness, sterility and reusability makes it efficient packaging material. The other major advantages of glass packaging is that it can be molded into various shape and sizes, facilitating its use across different industry verticals. Even though, glass remains preferred packaging material for variety of products, growing usage of plastics as a replacement for glass will hamper its market growth. Advancements in field of plastics for safe usage in different application will restrict the glass usage.
The progression of glass packaging demand is influenced by a wide range of factors, from year to year and also factors with a much longer term influence. While the economy plays a central role in influencing the size and growth of the market, there are a number of other factors which can be seen as having a direct or at least indirect influence on packaging demand or, at any rate, the nature of this demand, irrespective of the performance of the economy. These include ageing of world population, increasing requirement for convenience among consumers, and new glass packaging material development.
Growth in alcoholic drinks consumption across Asia Pacific countries like India and China will be the major growth driver of this market. Increasing healthcare spending across the world will further augment the demand for glass packaging solutions. Asia Pacific dominated the glass packaging market in 2015. The growing consumption of alcoholic beverage drives the market in the region. Followed by Asia Pacific, Europe is the second largest market. The demand for packaging in Europe is mainly driven by the East European countries such as Turkey, Russia, etc. In Germany, the increasing consumption of beer is the key driver of glass packaging. Furthermore, the ageing population of the nation fuels the market for pharmaceutical packaging.
The Global Glass Packaging Market has been segmented on the basis of Industry (Food, Beverage, Healthcare, Personal Care, and Others), Products (Bottles, Vials, Jars, and Others), and Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
This report describes a detailed study of the Porter's five forces analysis of the market. All the five major factors have been quantified using the internal key parameters governing each of them. It also covers the market landscape of these players which includes the key growth strategies, geographical footprint, and competition analysis. The report also considers key trends that will impact the industry and profiles of leading suppliers of Glass Packaging Market. Some of the top companies mentioned in the report are Amcor, Saint Gobain S.A., Ardagh Packaging Holdings Limited, Hindusthan National Glass & Industries Limited, Bormioli Rocco SPA, Vetropack Holding AG and among others.
What the report offers:
1) Report gives complete market insights, the driving forces of the market, the challenges it faces and the opportunities in the current market scenario.
2) Complete market segmentation has been done on the basis of different packaging and product types along with detailed analysis for the next 5 years.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape with profiles of major companies along with their market share.
5) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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