Increase in demand from the food & beverage and pharmaceutical sectors drive the growth of the global container glass market. However, environmental hazards associated with the manufacturing of container glass hinder the market growth to some extent. On the other hand, emergence of lightweight container glass products creates new opportunities in the coming years.
A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
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The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
Based on forming method, the press & blow segment held the highest market share in 2020, accounting for nearly half of the global container glass market, and is estimated to maintain its leadership status throughout the forecast period. This is due to increase in trend of using reusable bottles in the foods & beverages industry. Moreover, the narrow neck press & blow segment is projected to manifest the highest CAGR of 7.2% from 2021 to 2030, owing to rise in consumption of alcoholic drinks that need narrow neck bottles for packaging and increase in fashion consciousness.
The Container glass market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
Based on end use, the food & beveragessegment accounted for the largest share in 2020, contributing to more than three-fourths of the global container glass market, and is projected to maintain its lead position during the forecast period. This is attributed to increase in utilization for food storage purposes and rise in demand for premium alcoholic beverages. However, the pharmaceuticals segment is expected to portray the largest CAGR of 7.5% from 2021 to 2030, owing to increase in severity of diseases that led to increased adoption of container glass for storage and packaging of pharmaceuticals and rise in research and development (R&D) activities for producing highly efficient medicines in which glass-based equipment is used for product sampling, storage, and other applications.
Container glass Companies Covered Market:- Amcor Limited, FrigoGlass, Owens-Illinois Inc., Consol Glass Pty Ltd., Central Glass Co. Ltd., Vitro, S.A.B de C.V., Vidrala, Hindusthan National Glass, Industries Limited and Other.
Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Container glass market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Container glass market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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