Glass Container Market Expected to See Steady Growth in Europe through 2020
The annual production of glass containers in Europe was 14.58 million metric tons in 2014 and is estimated to reach 17.74 million metric tons by 2020, growing at a compound annual growth rate (CAGR) of 3.32%, according to a Research and Markets report entitled “Europe Glass Containers Market-by Countries and Vendors-Market Trends and Forecasts (2014 - 2020).” From the demand side, the glass container market was worth $14.3 billion in 2014 and is forecast to grow at a CAGR of 3.51% to reach $17.59 billion by 2020.
The glass container market in Europe was almost uniformly distributed in 2014, with the alcoholic beverages industry comprising around half of the market share. The glass bottle industry is a consolidated market with top companies holding the crux of the market share. The industry is striving to bring innovations to products, making them more eco-friendly and customer preferable. Lightweighting resulted in a reduction of glass bottle weight by 40% over the past decade. Factors such as fluctuations in raw material prices and logistics are hindering the growth of the market.
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