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The global glass packaging market size stood at USD 62.95 billion in 2022. The market value is slated to rise from USD 64.97 billion in 2023 to USD 86.54 billion by 2030 at a CAGR of 4.2% during 2023-2030. The surge is due to the increasing consumer demand for healthy and safe packaging solutions. Additional factors propelling market growth comprise the rollout of innovative products via technologies that shape, emboss, and add an artistic finish. Besides, glass is considered as a material that helps to maintain the freshness of different products.
Fortune Business Insights™ presents this information in its report titled “Glass Packaging Market Size, Share & COVID-19 Impact Analysis, By Product (Bottles, Jars & Container, Ampoules, Vials, and Others), By End-user (Food, Beverage (Alcoholic & Non-alcoholic), Pharmaceuticals, Personal Care & Cosmetics, Others), and Regional Forecast, 2023-2030”.
Lockdown Restrictions Affected Various Projects Amid COVID-19 Pandemic
The COVID-19 pandemic led to a halt on daily activities such as meetings, gatherings, and travel between countries. This led to a delay in several projects. However, glass packaging came to be considered as a key option during the pandemic period. The market registered an escalating demand from the food & beverage and pharmaceutical sectors.
Vetropack Group Exhibits at Drinktec 2022 to Strengthen Industry Position
In September 2022, Vetropack Group rolled out Echovai, the world’s first reusable bottle made from tempered lightweight glass. The solution was exhibited at Drinktec 2022. The bottle has a high rate of circulation owing to its abrasion resistance and light weight.
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https://www.fortunebusinessinsights.com/glass-packaging-market-102812
Industry Value to Rise Owing to Surging Product Demand from Food & Beverage Sector
The glass packaging market growth is being driven by the soaring demand for fragile packaging. The material provides significant benefits such as visibility and impermeability. The product demand is further driven by rising consumer demand for healthy and safe food products.
However, the market expansion could be hampered by the growing usage of relieving products such as plastic and tin and the higher costs of operation and maintenance.
Pivotal Players Launch New Products to Secure Competitive Edge
Key glass packaging companies are undertaking research activities and focusing on the launch of new products for securing a competitive edge. These companies are centered on mergers, acquisitions, and the formation of alliances to strengthen industry foothold. Additional initiatives comprise rising participation in trade conferences.
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Notable Industry Developments:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 4.2% from 2023 to 2030 |
Unit | Value (USD Billion), Volume (Kilo Tons) |
Segmentation | By Product, End-user, and Region |
By Product |
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By End-user |
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By Region |
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