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Attractive Opportunities in the Glass Packaging Market

sourcehttp://www.marketsandmarkets.com/

time2016/08/25

Glass is made from all-natural sustainable raw materials. It is the preferred packaging for consumers’ concerned about their health and the environment. Glass packaging provides optimum long-term conservation of the original qualities of food and beverages. Glass can be recycled, is non-permeable and has zero rate of chemical interaction which makes it a suitable packaging material for various applications. The demand is increasing in Asia-Pacific and will continue to increase due to the rising disposable income of the consumers in the region and increasing population especially in China and India.

The global glass packaging market is expected to grow at a CAGR of 3.9% from 2014 to 2019 to reach a value of $59,814.3 million. Alcoholic beverages application of glass packaging is expected to drive the market. One of the key factors contributing to this markets growth is the increasing demand of beer in Asia-Pacific and Eastern Europe.

Asia-Pacific dominated the glass packaging market in 2013. The growing consumption of alcoholic beverage drives the market in the region. Followed by Asia-Pacific, Europe is the second largest market. The demand for packaging in Europe is mainly driven by the East European countries such as Turkey, Russia, etc. In Germany, the increasing consumption of beer is the key driver of glass packaging. Furthermore, the ageing population of the nation fuels the market for pharmaceutical packaging.