After doing extensive research and analysis based on different primary and secondary information, market experts anticipate that the global Glass Container Market is expected to grow at a CAGR of 12.5% from the period 2022-2030.
The glass container market is projected to be worth USD 78.41 Billion by 2030, The market was valued at USD 69.49 billion in 2021.
Since the onset of the COVID-19 pandemic, most of the industrial sectors have suffered a lot. The same happened in the Glass Container Market. Strict lockdown and social distancing had affected the sales of this market but in the coming years, this sector is going to have a steady growth.
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People across the world prefer glass containers instead of plastic due to the ill effects of prolonged use of plastics. This factor has contributed to the significant growth of the global Glass Container Market Size.
Significant growth of the pharmaceutical sector is an important reason for the increase of global Glass Container Market Revenue.
The high fragility and increased transportation cost of glass containers are the main restraints in the growth of this sector but the chemical inertness of glass has made it one of the best alternatives for safe and sustainable packing.
Another factor that may restrain the growth of this market is the weight factor. Glass containers have more weight compared to other materials. The key players are investing in technologies to produce lightweight glasses which will ultimately result in low production and transportation cost.
The global Glass Container Market is segmented based on product type, end-users, glass-type, and region.
Based on the product, the market is further divided into glass bottles, glass jars, glass containers, and vials. Glass bottles occupy the major share of the market because of their tremendous use to keep different types of liquids for a prolonged time.
Based on the end-users, the Glass Container Market is segmented into the sectors like food, beverages, cosmetics & perfumes, pharmaceuticals, and others. As glass does not react with most of the substances, foods kept in glass containers remain healthy and safe for a long.
Based on the glass type, the market is segmented into soda-lime-silica-based and borosilicate-based.
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The global Glass Container Market is segmented into the region North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region had dominated 43% of the global Glass Container Market Share followed by Europe and North America.
The increase in the consumption of beer in the countries such as Germany, Russia, and Turkey has helped the Glass Container Market to grow significantly.
The key players of the global Glass Container Market are adopting new technologies, setting up production centers, and going for acquisitions of companies for expanding their business portfolio.
An industrial furnace was set up by Vidrala and Encirclit in November 2020 which helped in increasing the production.
In November 2019, a glass collection center was opened by Owens Illinois. The recycling of glass is done at theRumpke Recycling plant to produce wine packages or fiberglass.
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