According to a report released by Global Market Insights Inc., the market size of glass packaging bottles is expected to be US$55 billion in 2022, and will reach US$88 billion in 2032, with a compound annual growth rate of 4.5% from 2023 to 2032. The increase in packaged food will promote the development of the glass packaging bottle industry.
The food and beverage industry is a major consumer of glass packaging bottles, as the watertightness, sterility and robustness of glass make it an ideal packaging solution for perishable items. Additionally, technological advancements in the food and beverage packaging industry have been growing.
The main reason for the growth of the glass packaging bottle market: the increase in beer consumption in emerging economies will increase the demand for glass bottles. The demand for glass packaging bottles in the pharmaceutical industry is on the rise. The growth in the consumption of packaged food will favor the growth of the glass packaging bottle market.
Rapidly growing consumption drives the development of the beer market. On the basis of application area, the glass packaging bottle industry is segmented into alcoholic beverages, beer, food & beverage, pharmaceuticals, and others. The beer market size is expected to exceed USD 24.5 billion by 2032 owing to rapidly growing consumption of alcoholic beverages. Beer is currently the most consumed beverage in the world, according to the WHO. Most beer bottles are made of soda lime glass and the high consumption has created strong demand for this material.
Growth in the Asia-Pacific region is driven by an increase in the elderly population: The glass packaging bottle market in the Asia-Pacific region is expected to grow at a CAGR of more than 5% between 2023 and 2032, due to the continued growth of the regional population and the continuous change in the demographic structure, which will also affect the with the consumption of alcoholic beverages. The rising number of acute and chronic disease cases brought about by the aging population phenomenon in the region will have a positive impact on the pharmaceutical
Post time: May-08-2023