The glass bottles market is projected to witness substantial growth, with an anticipated rise from US$ 40.2 billion in 2023 to reach US$ 70.2 billion by 2033, reflecting a robust compound annual growth rate (CAGR) of 5.7% over the period from 2023 to 2033.
Glass bottles have been an integral part of our daily lives for centuries. From storing beverages to preserving cosmetics and pharmaceuticals, glass bottles offer a versatile and eco-friendly packaging solution. The Glass Bottles Market is a thriving industry, with a wide range of applications and a growing demand worldwide.
Glass bottles present a promising future with lucrative prospects, attributed to their recyclable and reusable nature. Additionally, businesses have the opportunity to adopt sustainable packaging alternatives, steering clear of harmful non-biodegradable materials like plastics, which can be advantageous for both manufacturers and marketers.
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Production of glass bottles is witnessing technological advancements for offering sustainability and enhanced customization. This factor is majorly driving the glass bottles market. This applies to pharmaceutical, food & beverages, perfume & fragrance vertical, and likewise. Another advantage is that glass could be easily recycled. Also, it stays chemically inert.
Besides, the fact that the trend to look through transparency with respect to food packaging persists. The consumers prefer seeing the product through packaging before buying. This is another factor driving the glass bottles market.
At the same time, the fact that glass is a brittle material can’t be ignored. As such, it needs to be handled with utmost care. Future Market Insights has entailed these facts with insights in its latest market study entitled ‘Glass Bottles Market’.
Key Takeaways from Glass Bottles Market
The Asia-Pacific holds the largest market share with Australia, Japan, India, and China leading from the front. This could be credited to the fact that the food and beverages industry is expanding at a good rate in these regions. Plus, countries like Chinas are more into manufacturing pharmaceuticals. South Korea is also expected to come around due to greater demand for beauty products.
The Europe and North America are expected to grow at a significant rate in the glass bottles market going forward. This is evident from the fact that Verescence’s 3 glass production sites and 4 decoration locations in North America and Europe produce 500 Mn bottles every single year. Germany accounts for almost 25% of Europe’s market share, followed by France (12%). Also, Canada, in February 2021, saw launching of the Loop/Reusable/Returnable Packaging platform in conjunction with Loblaw Inc. for rendering waste-free shopping for several household products. Heinz Ketchup (glass) bottle has been made available on the ‘Loop’ mentioned above.
“With consumption of beer increasing worldwide, the global glass bottles market is slated to grow on an astonishing note in the near future”, says an analyst from Future Market Insights.
Competitive Landscape
• Vitro, in October 2021, did announce investment close to US$ 70 Mn to construct a new-fangled ‘Container’ furnace at Vitro plant based out of Toluca (State of Mexico). The furnace would be providing extra capacity for supporting customers and their requirements regarding glass containers.
• Verescence, in November 2021, did announce launching Verre Infini 20 (Infinite Glass) that does combine 20% PCR and glass tint for addressing upscale businesses’ visual needs. Spain and France are already making the composition. The US began this year and South Korea next year.
• Saverglass, in November 2021, did open a multi-service warehouse spanning 430,000 square feet in Fairfield (California) with the objective of providing alcohol and wine companies quick access to a wide range of the glass bottle services.
• Stoezle Oberglass, in February 2022, completed rebuilding and expanding its flint furnace. It’s an investment worth EUR 22 Mn aimed at making manufacturing site all the more sustainable and efficient with respect to carbon dioxide emissions and energy emissions. It claims to reach close to 270 tons of melted glass on the daily basis. 13% of energy could be saved per ton of glass.
• Owens-Illinois, in October 2021, did announce spending US$ 178.8 Mn on its two novel facilities based out of Brazil.
• ALPLA Group, in August 2021, did announce acquiring Wolf Plastics Group for expanding the product portfolio and expand the presence in Southeastern and Central Europe.
Key Players:
• Owen Illinois, Inc.
• Ardagh Group, SA
• Vitro, S. A. B. de C. V.
• Vidrala, S.A
• BA Glass B.V.
• AGI Glasspack Limited.
• Frigoglass Jebel Ali FZCO
• Consol Glass (Pty) Ltd.
• Toyo Glass Co., Ltd.
• Gerresheimer AG