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.