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The glass bottles and containers is projected to reach $72.57 billion in 2025, at a compound annual growth rate of 3.81%.

Post Time:Aug 06,2019Classify:Industry NewsView:1127

The global production of glass bottles and containers in 2018 was 55.66 MMT and is estimated to reach 70.15 MMT by 2025,at a CAGR of 3.36%, while in terms of revenue, the market was $55.86 billion in 2018 and is projected to reach $72.57 billion in 2025, at a compound annual growth rate of 3.81%. India presents a huge growth potential for Glass Bottle Market with a projected CAGR of 4.19% during the forecast period. The growth in this region is driven by increasing population and alcoholic beverages sales, which contributes major share of Glass Bottle rowth by Region
APAC region leads the market with a market share of one-third in 2018 while; on the other hand, Europe had a share of 30% during the same period. Added to this, estimated growth rate in glass bottle end use industry i.e., Beer industry in India, will further boost the sales and increase market share in the APAC region. From end-use industries side, Alcoholic beverages lead the usage of glass containers with a market share of 50%. Glass bottles are preferred over plastic bottles because of its chemical inertness towards the alcohol and thus, can be substituted.

Drivers vs. Constraints
• Growing end use market

• Light weighting

• Change in consumer preference for alcoholic packaging, etc.

While factors like increase in Raw material prices, availability of substitute products, logistics costs, environmental factors, etc. among others are restraining the market growth

Industry Updates
Glass Container industry is undergoing tremendous innovative changes in order to be more sustainable and customer preferable. As such, light weighting of glass bottles has become a focal point in the industry and as a result, glass bottles have become light by 50% as compared to 3 years. Light weighting aids in decreasing the logistics costs and thus, manufacturers of glass containers are more focusing on the same.

The glass bottle market is highly consolidated with top players holding nearly 60% of the market. Companies like Owens-Illinois, Ardagh Glass, Verallia (which was recently acquired by Ardagh glass from Saint Gobain), Vidrala and others are the top global players while Consol Glass, Nampak, Central Glass, Frigo Glass (recently divested) in Africa and Hindustan National Glass, AGI Glasspac, Piramal Glass in India are the top regional players

Source: https://www.einnews.com/Author: shangyi

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