Glass Packaging Market Size, By Product (Borosilicate, De-alkalized Soda Lime, Soda Lime), By Application (Alcoholic Beverages, Beer, Food & Beverages, Pharmaceuticals, Others), Industry Analysis Report, COVID-19 Impact Analysis, Regional Outlook, Growth

Glass Packaging Market Size, By Product (Borosilicate, De-alkalized Soda Lime, Soda Lime), By Application (Alcoholic Beverages, Beer, Food & Beverages, Pharmaceuticals, Others), Industry Analysis Report, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032

Global Glass Packaging Market is anticipated to demonstrate enormous growth by 2032, owing to the surge in beer consumption in developing economies, further bolstering the demand for glass bottles.

Several key players operating in global glass packaging market are incorporating strategic initiatives like acquisitions, mergers, and product developments to expand their foothold in the industry. For instance, in May 2022, Ardagh Group acquired glass packaging producer Consol for $1 billion. This acquisition enabled Ardagh to invest in glass manufacturing in Africa.

The global glass packaging market has been bifurcated in terms of product, application, and regional landscape.

By product, the soda lime glass segment is anticipated to be valued over USD 58 billion by 2032. This glass type is commonly used in packaging beverages, foods, pharmaceuticals, etc. It usually contains 12% - 18% soda, 60% - 75% silica, and 5% - 12% lime.

The product offers hydrolytic resistance and is ideal and economical for recycling as glass can be re-formed and re-melted repeatedly. Its adaptation is anticipated to increase and spur the segmental expansion.

In terms of application, the pharmaceutical glass packaging segment is projected to grow at more than 5% CAGR over 2023-2032. In pharmaceuticals, glass packaging is used globally for tubes, bottles, etc. Many countries are constantly focusing on strengthening their pharmaceutical industry following the pandemic. However, several nations have lessened the usage of glass packaging owing to the rising focus on zero-emissions product usage, further imposing a challenge to the segment.

Borosilicate glass is increasingly used in the pharmaceutical industry worldwide. The demand for borosilicate glass is rising in the Asia Pacific due to the growing pharmaceutical industry in India and China. Hence, the segment is likely to witness moderate regional growth during the forecast timeframe.

Considering the regional perspective, the North America glass packaging market is slated to gain remunerative growth over the forecast period with the United States glass packaging business poised to expand considerably from 2023 to 2032.

In the U.S., glass containers account for a substantial portion of the packaging for distilled spirits, beers, and wines, but they comprise a very tiny portion of more extensive packaging. On the contrary, glass only holds a minuscule number of non-alcoholic beverages and is used in milk, CSDs, and is now being increasingly used in ready-to-drink beverages. These applications are slated to accelerate the growth of the glass packaging industry in the United States.

Some of the prominent companies operating in glass packaging industry are Amcor Ltd., Piramal Glass Limited, Heinz-Glass GmbH, Saint-Gobain S.A., and Vitro Packaging LLC, amongst others.