Modest Growth Projected for Glass Bottles and Containers
The glass container industry is undergoing innovative changes in order to be more sustainable and meet customer preferences.
Global production of glass containers in 2018 is projected to be 55.66 Mt and is estimated to reach 70.15 Mt by 2025, growing at a CAGR of almost 3.4%, according to a report available from Research and Markets. In terms of revenue, the market is estimated at almost $55.9 billion in 2018 and is projected to top $72.5 billion in 2025, expanding at a CAGR of 3.8%.
The Asia-Pacific region leads the market with one-third of the global market share, while Europe has a share of 30%. The estimated growth rate of glass bottles by end-use industries (e.g., the beer industry in India) will further boost sales and increase the market share in the Asia-Pacific. Alcoholic beverages lead the usage of glass containers with a market share of 50%. Glass bottles are preferred over plastic bottles because of glass’ chemical inertness.
The glass container industry is undergoing innovative changes in order to be more sustainable and meet customer preferences. As such, lightweighting of glass bottles has become a focal point in the industry; in the last three years, glass bottles have become lighter by 50%. Lightweighting also has the positive benefit of decreasing logistics costs for manufacturers of glass containers.
For more information, visit www.researchandmarkets.com.