The global glass packaging bottle market was US$54.26 billion in 2018, and is expected to have a compound growth rate of 4.39% by 2024, and it will reach US$70.21 billion in 2024.
The glass packaging bottle market is highly competitive. Some high-end companies such as Piramal Glass Private Limited, Owens Illinois, Inc., Amcor Co., Ltd., Bemis, WestPack LLC., Sonoco Products Company, Uhlmann Group, Gerresheimer AG, Hindustan National Glass&Industries Ltd. Ardagh Group, HEINZ-GLAS Gmb H&Co.KGA A, etc.
Main market trend: The beverage industry has a high market share
The glass packaging bottle market in the alcoholic beverage industry is facing fierce competition from metal packaging bottles, but due to its increased use in high-quality products, it is expected to maintain its share during the forecast period. We will see this growth trend in different beverage products, such as: juice, coffee, tea, soup, non-dairy beverages, etc.
Among most alcoholic beverages, beer has grown tremendously in the past few years, because most beer is sold in glass bottles, which has prompted people to improve the production efficiency of the glass packaging bottle industry. The increasing demand for alcoholic beverages has driven the growth of glass bottles. Developing countries like India have also shown a demand for higher quality alcohol.
In addition, recyclable glass bottles are still an important form of product delivery for major companies in the non-alcoholic beverage industry because they provide a cost-effective method. For example, about 70% of natural mineral water bottles are made of plastic. Considering environmental factors, there are more and more choices of glass bottled water packaging materials.
Significant growth in Europe
British consumers have a higher awareness of the health awareness and environmental benefits of glass bottles, and are willing to pay higher fees for these benefits. Manufacturers also recognize these trends and prefer to use glass bottles for packaging.
The British glass industry has the knowledge and expertise of global competitiveness. A large number of glass manufacturers contribute about 1.3 billion pounds to the British economy every year. Therefore, in terms of exports, the UK is the central hub of the European economy. According to data from the Ministry of Environment, Food and Rural Affairs, food and beverage exports exceeded 22 billion pounds in 2017, up from 20.2 billion pounds in 2016.
Lightweight glass is a major innovation in recent years, providing the same characteristics as old glass materials, while at the same time higher stability, and also reduces the amount of raw materials used. The sales of beer and whiskey in the UK are very good, so alcoholic beverages are expected to lead the glass bottle market.