Consumers in the U.S. firmly prefer glass bottles for alcoholic beverages. Germany holds a market share of nearly 25% in the Europe market for glass bottles. The sales for glass bottles are set to rise at an impressive rate of 6.2% across China through 2033
NEWARK, Del, Dec. 22, 2022 (GLOBE NEWSWIRE) -- According to FMI Research, the global glass bottles market is valued at US$ 40.2 Bn 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 US$ 70.2 Bn by 2033 by registering a CAGR of 5.7% through these years.
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 US$ 4.7 Bn by 2033.
In Europe, the UK glass bottles market is the leading region and is predicted to reach a valuation of US4 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.
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Competitive Landscape for the Glass Bottles Market Players
Major manufacturers of glass bottles that contribute significantly to the global market are Owen Illinois, Inc., Ardagh Group, SA, Vitro, S. A. B. de C. V., Vidrala, S.A, BA Glass B.V., AGI Glasspack Limited., Frigoglass Jebel Ali FZCO, Consol Glass (Pty) Ltd., Toyo Glass Co., Ltd., Gerresheimer AG, Vetropack Holding AG, Borosil Glass Works Ltd., Carib Glassworks Limited (CGL), Piramal Glass Private Limited, Albéa S.A., Verallia SA, Stölzle-Oberglas GmbH, Gallo Glass Company, Allied Glass Containers Ltd, and SGA S.A. among others.
Transforming customer needs in the different types of consumable goods market, including food 7 beverages, cosmetics, gift items, and others has compelled manufacturers to expand their business strategies for any new demand in the market. Glass bottles market key players are also working on expanding their product range with new designs and styles for standard and branded products in order to fulfill the needs of individual brands.
Glass Bottles Market by Category
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2.2. Market Definition / Scope / Limitations
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.4. Product Life Cycle Analysis
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About Future Market Insights, Inc.
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