New York, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Container Glass Global Market Report 2022" - https://www.reportlinker.com/p06318535/?utm_source=GNW
The global container glass market is expected to grow from $60.10 billion in 2021 to $63.36 billion in 2022 at a compound annual growth rate (CAGR) of 5.44%. The container glass market is expected to grow to $78.37 billion in 2026 at a compound annual growth rate (CAGR) of 5.46%.
The container glass consists of sales of container glass by entities (organizations, partnerships, and sole proprietors) that is used for the storage of liquids, food and other.It is a type of glass used for the production of glass containers including bottles, jars, drinkware, and bowls.
It includes glass bottles, jars, or other glass packaging containers used to contain/store a product. It contains properties like recycling, reuse, and neutral reacting nature, helping in preserving food and beverages for a long duration and avoiding contamination.
The main glass type of container glass are borosilicate-based and soda-lime-silica-based.The borosilicate-based glass is a container glass containing boron trioxide that enables a very low coefficient of thermal expansion.
Borosilicate glass does not crack under extreme temperature variations.This glass is used in laboratories and the manufacture of test tubes due to its durability.
The container glass are formed by using methods such as blow and blow, press and blow and narrow neck press and blow and used by end-user including food and beverages, cosmetics and personal care, pharmaceuticals, chemical, and other end-users.
Asia Pacific was the largest region in the container glass market in 2021. The regions covered in the container glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The container glass market research report is one of a series of new reports that provides container glass market statistics, including container glass industry global market size, regional shares, competitors with a container glass market share, detailed container glass market segments, market trends and opportunities, and any further data you may need to thrive in the container glass industry. This container glass market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing demand for fast-moving consumer goods (FMCG) and alcoholic beverages is expected to propel the growth of the container glass market.The demand for fast-moving consumer goods (FMCG) and alcoholic beverages is increasing due to reasons such as growing awareness, easier access, changing lifestyles, rising income levels, and others.
This increase in demand will drive the demand for container glass as this is an effective and safer packaging option for these products.FMCG goods and alcoholic beverages are non-durable products that require packaging such as container glass that can protect physically from damage caused by exposure to the sun, dust, temperature changes & contaminants.
Container glass also protects against loss of nutritional value such as denaturing of proteins and oxidation of fats due to their excellent properties such as neutral reaction.For instance, according to the report published in November 2020 by the India Brand Equity Foundation (IBEF), FMCG is the 4th largest growing sector in India, with household and personal care representing 50% of FMCG sales.
The Indian FMCG market was valued at $110 billion in 2020, which is expected to reach $220 billion by the end of 2025, showing an increase of 14.9%. This indicates that the demand is growing for fast-moving consumer goods (FMCG). Thus, the increasing demand for fast-moving consumer goods (FMCG) and alcoholic beverages will drive the growth of the container glass market.
Product innovation is a key trend gaining popularity in the container glass market.Innovations such as safety-coated and antibacterial food storage glass containers are taking place in the market to provide a sustainable and safe alternative to ordinary glass containers.
Safety coated glass containers with plastic coating are great for handling flammable liquids as they are easier to hold and less likely to break.Antibacterial food storage glass containers use a nanotechnology-based anti-microbial compound called Germ Guard, which prevents and eliminates the formation of dangerous bacteria, fungi, and molds.
Key players are innovating these containers to offer unique benefits and strengthen their market position.For instance, in June 2020, AGI glaspac, an India-based designer and manufacturer of integrated container-glass introduced its innovative antibacterial range of food storage glass jars and bottles, integrated with Germ Guard Technology.
These containers remove and destroy the growth of deadly bacteria, fungus, and molds, making them the safer alternatives to regular containers. These containers will enhance the growth of the company in the glass packaging industry.
In May 2022, Ardagh Group, a Luxembourg-based producer of glass and metal products acquired Consol Holdings Proprietary Limited (Consol), for $1 billion.With this acquisition, Ardagh Group will operate 65 production facilities in 16 countries across 4 continents, employing roughly 20,000 people and generating annual sales of around $10 billion.
Consol Holdings Proprietary Limited is a South Africa-based leading producer of glass packaging such as bottles, jars, glass, and decorative products.
The countries covered in the container glass market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06318535/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
