Glass Packaging Market Share Overview
Due to a considerably escalating population base, rise in purchasing power, and alteration in the lifestyle of users; individuals in these nations have started buying an escalated quantity of packaged food. The surge in demand for packaged foods such as beverages and more specifically alcoholic beverages, and carbonated soft drinks (CSD) are the key factors fuelling the demand for glass packaging. Furthermore, the use of glass in pharmaceutical packaging is also displaying growth mainly due to its superior protective qualities and rigidity. As an extensive range of pharmaceutical formulations is currently being packaged in glass containers, they are typically the top choice of packaging material in this industry.
Segmental Analysis
The Glass Packaging Market Share globally is segmented on the basis of applications, product, and region. The product-based segmentation of the market consists of premium glass quality, standard glass quality, and super premium glass quality. By Product, the premium quality glass controlled the Glass Packaging Market Share in 2017 with a share of 38.2 percent. The market is expected to increase at a CAGR of 3.36 percent during the forecast period. By applications, the market is segmented into beverage packaging, food packaging, personal care packaging, pharmaceuticals packaging, and others. The beverage packaging is controlling the Glass Packaging Market Share and is also estimated to develop with a rapidly growing CAGR in the forecast period.
Regional Analysis
The regional analysis of the glass packaging industry covers regions such as Europe, Americas, Asia Pacific, Middle East and Africa. The Asia Pacific had been controlling the Glass Packaging Market Share in 2017 with 34.3 percent share and is estimated to be the most rapidly increasing market through the forecast period. The increasing consumption of alcoholic beverage motivates the market in the region. Moreover, improved disposable income levels among individuals, fluctuating preferences, and lifestyles of consumers, also has had an encouraging effect on the development of the market. India, China, Japan, and South Korea are the important contributors in the market. China is the leading country for the market in the region.
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