Europe Glass Packaging Market to Touch USD 22.01 Billion by 2027: Rising Awareness about Health and Fitness to Bolster Growth

The Europe glass packaging market size is anticipated to reach USD 22.01 Billion by 2027 on account of the increasing demand from a wide number of applications such as pharmaceuticals, cosmetics, food and beverage, fragrance, and others. A published report by Fortune Business Insights, titled, “Europe Glass Packaging Market Size, Share & COVID-19 Impact Analysis, By End-use Industry (Skin/Personal Care, Fragrance, Food, Beverages (Alcoholic beverages, Non-Alcoholic beverages}, Pharmaceuticals and others), and Regional Forecast, 2020-2027,” states that the value of the market was USD 19.24 Billion in 2019 and will exhibit a CAGR of 4.38% between 2020 and 2027.

An investment of €33 Million made by Verallia for Updating its Industrial Approach

One of the two furnaces of Verallia were declared to undergo modification as the company celebrated its 50^th anniversary in November 2019. The main objective behind this reconstruction is to increase the glass bottle making capacity. This will further help the company to account for the top 7 plants that Verallia owns all over Portugal and Spain. The company further strategizes to invest €10 million more on the renovation of the second furnace located in Spain for improving the growth prospects in the country. Such initiatives taken by major companies are likely to bode well for the entire European market.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/europe-glass-packaging-market-103472

Rising Consumption of Bottled Beverages to Augment Growth

The increasing demand from the food and beverage industry is the key driver boosting the Europe glass packaging market growth. This, coupled with the increasing importance about health and fitness and the rise in health awareness will also add impetus to the growth of the market for Europe glass packaging. In addition to this, glass is 100% recyclable, the use of which will help to maintain the carbon footprint, thereby aiding to the expansion of the market in the coming years.

However, the increasing popularity of alternative packaging products, such as plastic may hamper the entire market for Europe glass packaging in the forecast period. Nevertheless, the rising awareness about environmental degradation and the increasing adoption of sustainable, recyclable, and eco-friendly products for packaging such as glass, paper, and board, will help create lucrative growth opportunities for the market in the coming years.

Adoption of Strategies such as Joint Contracts and Agreements – Key Objective of Players

Some of the Europe glass packaging manufacturers are focusing on strengthening their position in the market competition by expanding their geographical outreach. Some others are adopting collaborative efforts such as mergers and acquisition, contracts and agreements, and more to gain a competitive edge in the market.  

Major Industry Developments of Europe Glass Packaging Market include:

• September 2019 – The new MAGMA glass making technology was installed by Owns-Illinois (O-I) at Holzminden, Germany for increasing its production capacity.


• October 2019 – Berlin Packaging, with headquarters in the U.S. acquired Bruni Glass, based in Italy for increasing its production capability and expanding across various nations.

List of  Significant Players in the Market include:

• Stolzle-Oberglas GmbH


• Ardagh Group S.A.


• Steklarna Hrastnik, d. o. o.


• Bruni Glass


• Groupe Pochet


• Vetropack Group


• HEINZ-GLAS GmbH & Co. KGaA


• Vidrala S.A.


• Bormioli Luigi SpA


• Gerresheimer AG


• Others

Further Report Findings

• The European region is further categorized into eastern and western parts. Among these, the countries located in the Western Europe are holding dominance. These include Germany, France, and the U.K. that held about more than 55% share and emerged dominant in 2019. This is owing to the growing popularity of environment-friendly packaging solutions such as glass.


• With respect to segmentation by end-use, the beverage segment earned the largest Europe glass packaging market share attributed to a rise in the demand for beer and alcoholic beverages. In 2019, this segment earned 73.18% share.

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