Container Glass Market - Recent Innovations and Upcoming Trends Analysis
Container Glass Market Share
The growth of the global container glass market is primarily fueled by increased demand from the food & beverage and pharmaceutical sectors.
WILMINGTON, DELAWARE, UNITED STATES, February 12, 2024 /EINPresswire.com/ -- Allied Market Research recently released a comprehensive report titled "Container Glass Market: Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global container glass industry generated $82.2 billion in revenue in 2020, with projections indicating growth to $155.9 billion by 2030, representing a CAGR of 6.7% from 2021 to 2030.
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/9992
Key Growth Drivers:
The growth of the global container glass market is primarily fueled by increased demand from the food & beverage and pharmaceutical sectors. However, environmental concerns related to manufacturing processes pose a challenge to market expansion. On a positive note, the emergence of lightweight container glass products presents new opportunities for growth in the foreseeable future.
Impact of COVID-19:
The COVID-19 pandemic led to temporary closures of food and beverage manufacturing facilities, resulting in a decline in demand for container glass for storage and packaging applications. Additionally, the shutdown of construction and infrastructure activities during lockdowns reduced the consumption of container glass for interior and exterior décor purposes. Nevertheless, post-pandemic recovery is expected, driven by increased reliance on healthcare & pharmaceutical, e-commerce, and food & beverage sectors.
Segment Insights:
The press & blow segment dominated the market in 2020, holding nearly half of the global container glass market share. This segment is projected to maintain its leadership position throughout the forecast period, driven by the growing trend of using reusable bottles in the food & beverage industry. The narrow neck press & blow segment is anticipated to exhibit the highest CAGR of 7.2% from 2021 to 2030, attributed to increased consumption of alcoholic beverages and growing fashion consciousness.
End-User Analysis:
The food & beverage segment accounted for the largest share of the market in 2020 and is expected to maintain its lead position during the forecast period. This is due to increased utilization for food storage and rising demand for premium alcoholic beverages. However, the pharmaceuticals segment is projected to witness the highest CAGR of 7.5% from 2021 to 2030, driven by the rising severity of diseases and increased adoption of container glass for pharmaceutical storage and packaging.
Regional Outlook:
Asia-Pacific, followed by Europe & North America, held the highest market share in 2020 and is expected to maintain its dominance by 2030. The Asia-Pacific region is projected to witness the fastest CAGR of 7.3% from 2021 to 2030, driven by increased utilization of container glass across various sectors such as pharmaceuticals, food & beverages, and chemical manufacturing.
Leading Market Players:
Key players in the global container glass market include Amcor Limited, FrigoGlass, Owens-Illinois Inc., Consol Glass Pty Ltd., Central Glass Co. Ltd., Vitro S.A.B de C.V., Vidrala, and Hindusthan National Glass Industries Limited.
For those interested in procuring the full report, it is available for purchase on the Allied Market Research website
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
