The glass bottles market survey offers insights into chief growth drivers and restrains impacting the overall growth trajectory. The survey also provides insights into competitive landscape of global glass bottles market, identifying the key market players and analyzing the impact of their growth strategies.
As per a study by FMI, the glass bottles sales are expected total US$4.8 bn through 2031, growing at a CAGR of 5.2% over the forecast period of 2021 to 2031. The market witnessed a rise of 3% CAGR during its historical sales period between 2016 and 2020.
According to a study by FMI, the glass bottles market worth will reach US$37.1 bn in 2021. After battling a slight dip of sales during COVID-19 outbreak, the sales grew by 1% year-on-year in 2021.
Glass bottles are 100% recyclable, which makes them better alternative to plastic bottle form the environmental point of view. With focus on sustainability rising at a high pace, glass bottles sales will continue rising through the assessment period.
As per FMI, sales in the U.S. will rise considerably. Ban on single-use plastic and other policies undertaken to protect environment will create a conducive environment for increasing glass bottle sales in the country. Besides this, demand in China will continue surging, pushing growth in East Asia.
While glass bottle application is increasing across diverse industries, the food and beverages sector will account for over half of the market share. Increasing use of glass bottles in beverage packaging will continue driving sales. Demand in pharmaceutical sector also is expected to rise in the coming years.
“Innovations remain key focus for market players. From launch of long-neck beer bottles to ensuring greater agility, manufacturers are leaving no stone unturned to cater to the changing consumer preference,” says the FMI analyst.
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The global glass bottles market is moderately fragmented in nature. Key players in the market are focusing on increasing production and investing in product development. Innovation for improved, sustainable products will keep players ahead in the competition.
For instance, in June 2021, AB InBev announced about the launch of a lightweight longneck beer bottle for commercial applications. Several other companies are expected to focus on product launches spurring growth in the market.
Key players operating in the glass bottles market profiled by FMI includes
More Insights on the Glass Bottles Market:
FMI provides an unbiased analysis of the glass bottles market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global glass bottles market with a detailed segmentation on the basis of:
By Manufacturing Process:
By End User:
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