ResearchAndMarkets recently released its analysis report on the bottle glass market size, Share, and Trends 2021-2028. It is estimated that the global bottle glass market size will reach US $82.2 billion in 2028, with a CAGR estimated at 3.7% from 2021 to 2028.
The bottle and can glass market is mainly driven by the growing global demand for fast-moving consumer goods and alcoholic beverages. FMCG products such as honey, cheese, jam, mayonnaise, spices, sauces, sauces, syrups, processed vegetables/fruits and oils, etc., are packaged in various types of glass jars and glass bottles.
Consumers in urban areas around the world, rising hygiene and living standards are increasing the consumption of bottle glass, including bottles, jars and tableware. For hygiene reasons, consumers use bottle glass to store food and beverages. In addition, glass is reusable and recyclable, so consumers and businesses are looking at bottle and can glass to protect the environment from plastic containers.
In 2020, the growth of the market decreased slightly due to the outbreak of the coronavirus pandemic. Travel restrictions and raw material shortages have hampered production of bottle glass, which has led to a reduction in supply to the end bottle glass industry. The high demand for vials and ampoules in the pharmaceutical industry in 2020 had a significant impact on the market.
Vials and ampoules are projected to grow at a CAGR of 8.4% during the forecast period. The outbreak of the coronavirus pandemic has increased the demand for vials and ampoules in the pharmaceutical sector. The growing use of catalysts, enzymes and food essences in bakeries and confectionery is expected to drive the demand for glass vials and ampoules in the food and beverage industry.
The Middle East and Africa is expected to grow at a CAGR of 3.0% during the forecast period. The UAE has the highest consumption of bottled water in the world. In addition, beer consumption in Africa is growing at a substantial rate, up 4.4% over the past eight years, which is expected to further boost the market in the region.
Post time: Aug-29-2022