Transparency Market Research has published a new market report titled “Glass Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.” According to the report, the global glass packaging market was valued at US$ 40.32 Bn in 2013 and is likely to reach US$ 55.24 Bn by 2020, expanding at a CAGR of 4.6% during the forecast period, between 2014 and 2020. In terms of volume, the global demand for glass packaging stood at 54,246.8 kilo tons in 2013.
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Dark colored glass bottles are often used in packaging beer, as glass deflects UV rays, thereby reducing the occurrence of “skunky” beer. Rise in global consumption of beer is expected to be one of the primary factors driving the glass packaging market. Growth of the healthcare industry and higher usage of glass bottles for storage of medicines due to its sterility and reusability is also anticipated to increase demand for glass packaging over the next few years. However, rising popularity of plastics and its increasing scope of application for packaging are likely to hamper market growth. Increasing consumer preference for glass for packaging of food, beverages and chemicals is anticipated to offer new opportunities for market growth in the near future.
Alcoholic beverages (excluding beer) was the largest application segment of glass packaging, accounting for over 40% share of the global market in terms of volume in 2013. The segment is projected to witness the fastest growth during the forecast period, followed by beer, due to rising consumption of these beverages. Market dynamics of glass packaging for alcoholic beverages (excluding beer) and beer often interchange owing to changing patterns in consumption of drinks. Pharmaceuticals are anticipated to exhibit above-average demand for glass packaging in the next few years.
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Asia Pacific was the largest market for glass packaging, accounting for over 35% of the market share in 2013. Rise in disposable income of consumers is expected to increase consumption of alcoholic beverages. This is anticipated to drive demand for glass over the next few years. Rest of the World is likely to experience a significant rise in market share due to growing consumption of alcoholic beverages.