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The global glass packaging market size is projected to reach USD 81 billion by the end of 2027. The strict regulations imposed by governments across numerous countries towards the use of plastic material will lead to a subsequent rise in the adoption of glass material. According to a report published by Fortune Business Insights, titled “Glass Packaging Market Size, Share & Industry Analysis, By End-use Industry (Alcoholic beverages, Food, Non-Alcoholic beverages, Pharmaceuticals, and Others), and Regional Forecast, 2019-2027,” the market was worth USD 60.32 billion in 2019 and will exhibit a CAGR of 3.95% during the forecast period, 2019-2027.
Glass packaging is the most widely adopted materials for beverages across the world. The increasing efforts taken to manufacture glass bottles and other glass-derived packaging material will emerge in favor of the companies operating in the market. The huge demand for this product can be attributable to the exceptional properties that it possesses, including rigidity, resistance to external factors, and durability. The ease of availability of raw materials will bode well for lass packaging vendors across the world. The massive investment in the development of glass packaging material, coupled with the efforts put in by government organizations towards manufacturing and use of glass as an alternate to plastic, will contribute to the growth of the market in the coming years. Additionally, factors such as recycling of glass bottles and material will encourage consumers to adopt this type of packaging over its alternate counterparts.
Berlin Packaging’s Acquisition of Vidrimon to Have a Huge Impact on Market Growth
The report highlights a few of the major industry developments of recent times and discusses the impact of these products on the growth of the market. Accounting to the massive demand for the product across the world, there is a fierce competition in the market. As a result, companies are looking to adopt strategies that will help them establish a stronghold in the market. It has been observed that company mergers and acquisitions are a growing trend among major companies across the world. In October 2019, Berlin Packaging announced that it has completed the acquisition of Vidrimon, a supplier of glass packaging solutions in Europe. Through the acquisition of Vidrimon, Berlin Packaging will look to establish a wider consumer base in southern Europe. Berlins’ latest acquisition will nt just benefit the company but will have a direct impact on the growth of the overall market in the coming years.
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Rising Demand for Bottled Beverages Will Aid Growth
The increasing adoption of a fast paced lifestyle, coupled with the consumption of ready-to-go drinks will lead to a huge demand for the product across the world. The increasing trends of consumption of bottled beverages will create several opportunities for the companies operating in the market. The presence of several large scale companies operating in numerous countries across the world will aid the growth of the overall market in the foreseeable future.
Major Companies Focused on Mergers and Acquisitions
Due to the increasing demand for glass packaging and the ease of availability of materials used in manufacturing of these products has attracted several companies across the world. As a result, there have been several market entrants in recent years. Due to the healthy competition, companies are looking to adopt newer and more efficient strategies with a view to establishing a stronghold in the market. Company mergers and collaborations are a growing trend among major companies across the world.
List of companies profiled in the market:
The market is segmented on the basis of:
Value (USD Billion) and Volume (Kilotons)
By End-use Industry