ResearchAndMarkets recently published a report on Bottle and Can Glass Market Size, Share and Trends Analysis 2021-2028, which estimates the global bottle and can glass market size to reach USD 82.2 billion by 2028, growing at an estimated CAGR of 3.7% from 2021 to 2028.
The bottle and jar glass market is primarily driven by the growing global demand for FMCG and alcoholic beverages. FMCG products such as honey, cheese, jams, mayonnaise, spices, sauces, dressings, syrups, processed vegetables/fruits and oils are packed in various types of glass jars and bottles.
Consumers in urban areas around the world, growing hygiene and living standards are increasing the consumption of jars and glass, including bottles, jars and cutlery. For hygienic reasons, consumers are using bottles and jars of glass to store food and beverages. In addition, glass is reusable and recyclable, so consumers and businesses are looking at bottle and jar glass to protect the environment from plastic containers.
In 2020, the growth of the market declines slightly due to the outbreak of the coronavirus pandemic. Travel restrictions and raw material shortages hinder the production of bottle and jar glass, which leads to a reduction in supply to the end-use bottle and jar glass industry. high demand for vials and ampoules from the pharmaceutical industry has a significant impact on the market in 2020.
Vials and ampoules are expected to grow at a CAGR of 8.4% during the forecast period. The coronavirus pandemic outbreak has increased the demand for vials and ampoules in the pharmaceutical sector. Increasing utilization of catalysts, enzymes and food extracts in bakeries and confectioneries is expected to drive the demand for glass vials and ampoules in the food and beverage sector.
The Middle East and Africa is expected to grow at a CAGR of 3.0% over 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 significant rate of 4.4% over the last eight years, which is expected to further drive the market in the region.
Post time: Feb-18-2022