Glass Bottles Market : Key Players, Applications, Outlook, SWOT...

Glass Bottles Market : Key Players, Applications, Outlook, SWOT Analysis And Forecasts 2033

Сообщение 2024-08-22 07:53:05

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According to FMI Research, the global glass bottles market is valued at USD 40.2 Billion in 2023. With the ever-increasing rise in sales of prepared and packaged foods over e-commerce platforms, the glass bottles market size is predicted to reach USD 70.2 Billion by 2033 by registering a CAGR of 5.7% from 2023 to 2033.

Different types of alcoholic beverages, such as beer, are regarded to be the major factor that has been driving the global glass bottle market since its commercialization. Moreover, as it is non-reactive to most chemicals inherent in food products, so the demand for glass bottles for online delivery purposes is surging day by day.

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To capitalize on the new trend of using transparent packaging for food products, numerous firms, particularly dairy product manufacturers, have increased the demand for transparent glass containers. Nevertheless, the market’s growth is being hampered by stiff competition from many alternative packaging materials such as plastic and aluminum. However, stringent regulation for controlling plastic products and the rising cost of aluminum is anticipated to revive the market in the coming days.

Key Takeaways from the Glass Bottles Market

The US is the dominating market which contributes around 30% of the revenue generated by the sales of glass bottles in the international market. By the end of this forecast period, the net worth of this regional market is poised to reach 12.5 Bn.
China is second in the top order for the regional glass bottles market. As per the report, it contributes to nearly 10% of the global market and is projected to reach up to USD 4.7 Bn by 2033.
In Europe, the UK glass bottles market is the leading region and is predicted to reach a valuation of USD 4 2.6 Bn by the end of this forecast period.
Among the different grades of glass bottle types, Type I is the highest-selling segment. On the other hand, the Type III glass bottles segment is gaining traction rapidly and is poised to grow at a rate of 5.4% over the next ten years.
As per the industry survey report, the tubing manufacturing process is the major segment for the production of glass bottles. It is also predicted to remain at the top position by registering a CAGR of 4.2% over the forecast years.

Competitive Landscape

Many glass bottle manufacturers are contributing to this moderately fragmented, after strategic mergers & acquisitions, glass bottles market. Leading players in the market are focusing increasingly on product development efforts in addition to strategic mergers and acquisitions to bolster capacity and geographical expansion requirements.

As evident from recent reports, the key manufacturers of glass bottles are increasingly adopting sustainable practices. For instance, the Loop Reusable or Returnable Packaging platform was introduced in Canada in February 2021 in collaboration with Loblaw Inc to deliver waste-free delivery of various food and home items.

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