Latest News- Glass Packaging Market: Soda lime glass is expected to lead the Type segment during 2024-2028

The Glass Packaging Market is being driven by Increasing demand for glass packaging due to sustainability concerns

The Glass Packaging Market is expected to grow at a CAGR of 4.48% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 16.87 billion. To meet the surging global demand for glass packaging solutions, industry leaders are investing substantially in new facilities and expanding production capacity. For instance, O-I Glass Inc. allocated USD 102.6 million towards enhancing two of its French production sites. Similarly, Verallia SA announced a USD 151 million investment in Brazil to double manufacturing capacity and bolster sustainability initiatives. These strategic moves ensure the companies remain competitive and well-equipped to cater to the expanding customer base across diverse markets. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Soda lime glass
  • Borosilicate glass
  • De-alkalized soda lime glass
• End-user
  • Food and beverage
  • Personal care
  • Pharmaceutical
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for glass packaging due to sustainability concerns
• Introduction of lightweight glass bottles
• Increasing number of vendors offering returnable glass bottles

However, the market also witnesses some limitations, which are as follows:

• Rising demand for PET and fiber packaging
• Fluctuations in raw material prices of glass packaging
• Logistics issues associated with glass containers

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Market Scope in Glass Packaging Market Research Report

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Research Analysis Overview

The Glass Packaging Market encompasses various types of glass, including Recyclable Glass, High-Barrier Glass, Colored Glass (Clear, Amber, Green, Flint), Soda-Lime Glass, Borosilicate Glass, and more. Recycling rates for Glass-to-Glass, Post-Consumer, and Pre-Consumer Glass are crucial. Glass Container Re-use, Sorting, Collection, and Logistics impact efficiency. Innovation in Packaging includes Material Substitution, Weight Optimization, and Performance Evaluation for Cost Optimization. Properties and Performance of Packaging Materials are key factors.

Market Research Overview

The Glass Packaging Market encompasses a range of applications including Food Packaging, Beverage Containers, Pharmaceutical Vials, Cosmetic Bottles, and Household Product Jars. This industry's growth is driven by the inherent benefits of glass, such as its ability to provide aseptic conditions, preserve product quality, and ensure consumer safety. Additionally, the increasing demand for eco-friendly packaging solutions is further fueling market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/