Worldwide Glass Containers Market to See Modest Growth through 2020
The annual production of glass containers was 49.23 million metric tons (MMT) in 2014 and is estimated to reach 60.30 MMT by 2020, growing at a compound annual growth rate (CAGR) of 3.41%. From the demand side, the glass containers market was $49.72 billion in 2014 and is forecasted to reach $62.23 billion by 2020 at a CAGR of 3.81%, according to a recent report available from Research and Markets.
The glass container market in 2014 was led by the Asia-Pacific region, with one-third of the market share, closely followed by Europe. Moreover, the Asia-Pacific is the fastest-growing market for the forecast 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 2014.
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