Glass bottle packaging to reach $71 billion by 2022
According to Future Market Insights (futuremarketinsights.com), the demand for glass bottles will soar steadily over the next five years. By 2022, the global glass bottles market is anticipated to have reached a value of US$ 71 billion, reflecting a CAGR of 4.9%. The report also projects that Asia-Pacific excluding Japan (APEJ) will remain at the forefront of market expansion during the forecast period.
Compared to plastic bottles, glass bottles demonstrate diminutive competency with respect to their characteristics as a packaging commodity. Despite this, the global demand for glass bottles continues to surge like the effervescence of carbonated drinks. Consumers in developed markets such as Europe still prefer buying beer, wine or non-alcoholic beverages in glass bottles. Unlike plastic bottles, glass bottles continue to be identified for their characteristic advantage in terms of hygiene, aesthetic appeal, durability, and being impermeable.
Manufacturers of food and beverage products are actively adopting glass bottles as their packaging solutions, considering how these bottles can keep the item intact and also retain its true flavour over a long time period. Being diffusion-resistant, glass bottles have also been viewed as vital containers for storing volatile compounds, highly-reactive detergents and bleaching agents. Such products are predominantly used by consumers in the form of pharmaceuticals, domestic surfactants, and cosmetic goods.
The report reveals that APEJ will remain the largest market for glass bottles through 2022. The region will particularly exhibit higher participation of companies, considering the competitive advantage of manufacturing glass bottles in low-wage countries such as China and India. The APEJ region is also viewed lucrative for manufacturing of glass bottles owing to ample availability of resources, increasing production of raw silica, and favourable industrial regulations. Over the forecast period, the APEJ glass bottles market is anticipated to grow robustly by registering a CAGR of 6.6%.
North America, on the other hand, will be exhibiting a moderate growth in its glass bottle sales. Despite the booming food & beverage consumption in the US, North America's glass bottles sales are anticipated to procure close to US$ 15 billion revenues by the end of 2022. Europe is also anticipated to show sluggish growth in terms of glass bottle sales across packaging applications. The report further projects that by the end of forecast period, Japan's glass bottle market will have reached a value of US$ 2.3 billion.
Key highlights from the report:
- The report projects that application of glass bottles in packaging of ready-to-drink beverages will gain impressive traction in 2017 and beyond.
- In 2017, more than one-fifth share of global revenues procured will be accounted by application of glass bottles in packaging of beers.
- Throughout the forecast period, manufacturers will focus on producing glass bottles through molding processes.
- Toward the end of the forecast period, tubular manufacturing of glass bottles will witness a considerable dip in terms of adoption.