Glass packaging market to reach $55.24 billion by 2020
The global market for glass packaging is examined in a recent research report published by Transparency Market Research (transparencymarketresearch.com). The report states that the market will expand at a modest 4.60% CAGR and rise from a valuation of $40.3 billion in 2013 to $55.2 billion by 2020. The report is titled "Glass Packaging Market for Food & Beverages, Pharmaceuticals, Beer and Other Alcoholic Beverages - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" and is available on the company website for sale.
The report states that the major factors driving the global glass packaging market include the rising consumption of beer across the globe, which is a major end-use industry of glass packaging, and the rising demand for glass packaging in the pharmaceutical industry. The rising consumer inclination towards glass-packaged products as a cleaner alternative to plastic packaging is also expected to drive the global glass packaging market in the coming years.
However, the high popularity and cheaper nature of plastic packaging is expected to hamper the overall development of the market to a certain extent.
The report segments the global glass packaging market on the basis of two criteria: application and geography. On the basis of application, the market has been segmented into food and beverages, alcoholic beverages except beer, beer, pharmaceuticals, and other applications such as chemicals and personal care products. On the basis of geography, the market has been segmented into North America, Asia Pacific, Europe, and Rest of the World.
Of the key applications areas examined in the report, the segment of alcoholic beverages excluding beer led the market in 2013, accounting for over 40% of the global market. The segment is also expected to remain the fastest growing market segment over the forecast period owing to the rising consumption of alcoholic beverages across the globe.
Of the key regional markets for glass packaging, the segment of Asia Pacific led the market and accounted for a 35% share in 2013. Rising disposable incomes of the population in this region are expected to be one of the key factors propelling the market in this region over the report's forecast period.
The report also presents an expansive account of the competitive landscape of the global glass packaging market with the help of detailed business profiles of some of the key companies in the market, recent developments, and activities such as mergers and acquisitions. An overview of the influence of recent developments on the market's overall growth prospects is also included in the report.
The global glass packaging market is highly fragmented, with the top six companies collectively accounting for only over 35% of the market in 2013.
The key companies in the market profiled in the report include Bormioli Rocco SpA, Ardagh Group, Amcor Ltd., Hindusthan National Glass & Industries Ltd., Saint-Gobain S.A., Gerresheimer AG, Nihon Yamamura Glass Co Ltd., Owens-Illinois Inc., Koa Glass Co. Ltd., Piramal Glass Limited, Vidrala SA, Wiegand-Glas, Stölzle-Oberglas GmbH, and Vetropack Holding AG.
The Market has been segmented into:
Glass Packaging Market - Application Analysis
Alcoholic beverages (excluding beer)
Food & beverages
Others (Including personal care products and chemicals)