Glass packaging market is expected to reach USD 59.94 billion in 2019:
Global market for glass packaging was valued at USD 47.43 billion in 2012 and is expected to reach USD 59.94 billion by 2019.
According to a new report published by Transparency Market Research (transparencymarketresearch.com) "Glass Packaging Market for Food and Beverage, Pharmaceuticals, Beer and Other Alcoholic Beverages - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global market for glass packaging was valued at USD 47.43 billion in 2012 and is expected to reach USD 59.94 billion by 2019, growing at a CAGR of 3.4% from 2013 to 2019. In terms of volume, global demand was 45.71 million tons in 2012 and is expected to grow at a CAGR of 3.1% from 2013 to 2019.
Dark colored glass bottles are often used in packaging of beer as glass helps in deflecting UV rays, thereby reducing the occurrence of "skunky" beer. Rise in global consumption of beer is expected to be one of the primary factors driving the glass packaging market. Growing consumer preference towards glass for packaging of food and beverages is expected to open new opportunities for the growth of the market over the next few years.