Dublin, Oct. 17, 2024 (GLOBE NEWSWIRE) -- The "Glass Packaging Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Glass Packaging Market is forecast to surpass US$67.7 billion in 2024.
Collaboration and Partnership Between Market Players Opportunities for the Market Growth
Collaboration and partnerships between market players present significant opportunities for the growth of the glass packaging market. In an increasingly interconnected global economy, strategic alliances allow companies to leverage each other's strengths, resources, and capabilities to drive innovation and market expansion. By joining forces, companies can enhance their product offerings, expand their market reach, and achieve economies of scale that can lead to cost efficiencies.
One of the key advantages of collaboration in the glass packaging industry is the ability to combine expertise in different areas of the value chain. For example, manufacturers can partner with recycling facilities to improve the collection and recycling rates of glass packaging materials, thereby enhancing the sustainability credentials of their products. Collaborations can also facilitate access to advanced technologies and production methods, enabling companies to develop innovative glass packaging solutions that meet evolving consumer preferences and regulatory requirements.
This collaborative effort can influence policymakers and industry stakeholders to prioritize initiatives that enhance the overall sustainability of the packaging industry. For instance, on 12 Dec 2023, Diageo has partnered with ecoSPIRITS to introduce ecoTOTEs, aiming to replace single-use glass bottles and potentially eliminate up to 1,000 bottles over their lifespan. This initiative, set to debut in 2024, will initially focus on brands like Gordon's gin, Captain Morgan rum, and Smirnoff vodka, employing reusable 4.5-litre containers akin to kegs. The move underscores Diageo's commitment to reducing carbon emissions and waste in the spirits industry through sustainable packaging solutions.
Demand for Paper Packaging Hinders Glass Packaging Market Growth
The glass packaging market is facing significant challenges due to the increasing demand for paper packaging solutions. This shift is primarily driven by growing consumer preferences for environmentally friendly and sustainable packaging options. Paper packaging is often perceived as eco-friendlier because it is biodegradable and sourced from renewable resources, which aligns with the rising environmental consciousness among consumers. As a result, many industries, including food and beverage, cosmetics, and personal care, are adopting paper-based alternatives to meet these consumer demands.
Additionally, regulatory pressures and policies aimed at reducing plastic waste are inadvertently benefiting paper packaging solutions. Governments and environmental organizations are advocating for reduced reliance on materials that contribute to landfill waste and pollution, thereby promoting the use of recyclable and biodegradable materials such as paper. This trend is accelerating the shift away from traditional glass packaging, which, while recyclable, is perceived as less environmentally friendly compared to paper packaging.
Key Market Dynamics
Market Driving Factors
- Increasing Recycling Rates for Sustainable Growth to Drive Market
- Rising Demand for Glass Packaging in the Healthcare and Cosmetic Industry to Boost the Market Growth
- Increasing Consumption for Both Alcoholic and Non-Alcoholic Beverages
Market Restraining Factors
- Growing Demand for Paper Packaging Hinder the Glass Packaging Market Growth
- Rising Cost Pressure and Refillable PET Hinder the Glass Packaging Market Growth
Market Opportunities
- New Technologies in Glass Packaging
- Collaboration and Partnership Between Market Players
- Expansion and New Products Launched Brings Opportunities for Market Growth
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), porter's five forces model, and recent developments.
Segments Covered in the Report
Sales Channel
- Online Sales
- Offline Sales
Capacity
- Small (Up to 250ml)
- Medium (251ml to 1 Litre)
- Large (Above 1 Litre)
Type
- Silica Glass
- Lime Glass
- Pyrex Glass
- Other Glass Type
Product Type
- Glass Bottles
- Glass Jars
- Glass Flacons
- Vials and Ampoules
- Other Product Types
End-Use
- Food & Beverage
- Pharmaceutical
- Cosmetics and Personal Care
- Chemicals
- Household
- Other End-Use Industries
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 19 leading national markets.
The report also includes profiles for some of the leading companies in the Glass Packaging Market, with a focus on this segment of these companies' operations.
Leading companies in the Glass Packaging Market profiled in the report include:
- Acme Vial and Glass Company
- Amcor plc
- Beatson Clark Ltd
- Becton, Dickinson and Company (BD)
- Bormioli Rocco
- Gerresheimer
- Nipro Corporation
- O. Berk Company
- O-I Glass, Inc.
- Piramal Glass
- Schott AG
- Stevanato Group
- Vetropack
- Vidrala
- West Pharmaceutical Services
For more information about this report visit https://www.researchandmarkets.com/r/petccf
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