Glass Packaging Market 2022 by Manufacturers, Regions, Type and Application, Forecast to 2027
The global glass packaging market size is projected to reach USD 81 billion by the end of 2027. The rising demand for glass material across the world will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Glass Packaging Market Size, Share & Industry Analysis, By End-use Industry (Alcoholic beverages, Food, Non-Alcoholic beverages, Pharmaceuticals, and Others), and Regional Forecast, 2019-2027,” the market was worth USD 60.32 billion in 2019 and will exhibit a CAGR of 3.95% during the forecast period, 2019-2027.
The rising demand for glass and glass material is consequential to the lesser environmental effects it has. The exceptional properties of this material including rigidity and durability will contribute to the growing demand. The high investment in the research and development of efficient glass material, coupled with the presence of several large scale manufacturers across the world will aid the growth of the overall market in the coming years.
The adverse effects of plastic and the strict regulations imposed by governments of several countries towards the use of plastic will lead to a huge adoption of glass as alternative solution to plastics. The product is most widely used in the food and beverage industry for beverage supply and distribution. The increasing consumption of bottled and packaged beverages will aid the growth of the overall market in the foreseeable future.