Multiple Factors Driving Steady Growth for Glass Containers
The glass container market in 2016 was led by the Asia-Pacific region, with a market share of 35%, closely followed by Europe
According to a recent report available from Research and Markets, the annual production of glass containers was 51.42 MMT in 2016 and is estimated to reach 62.95 MMT by 2022, growing at a compound annual growth rate (CAGR) of 3.43%. From the demand side, the glass containers market was $52.89 billion in 2016 and is forecasted to reach $66 billion by 2022, growing at a CAGR of 3.76% for the period.
The glass container market in 2016 was led by the Asia-Pacific region, with a market share of 35%, closely followed by Europe. In addition, Asia-Pacific is reported to be the fastest-growing market for the forecasted period, making it the region of focus for glass container suppliers. The alcoholic beverages industry led the glass container market with around half of the market share in 2016. Factors like growing end use industries, sustainability, and industry trends like lightweight products are driving the market, while factors like fluctuations in raw material prices and logistics are hindering growth.
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