Global Market for Glass Packaging is expected to reach USD 68.4 billion by 2020, according to a new study by Grand View Research, Inc. Growing beer consumption, especially in parts of Eastern Europe and Asia Pacific is expected to be a key driver for the growth of the market over the next five years. In addition, the increasing preference towards use of glass in packaging of food and beverage, pharmaceuticals and cosmetics is further expected to boost the market in the near future.
Alcoholic Beverages were the largest consumers of glass packaging and consumed over 25,000 kilo tons of glass in 2013. Beer is expected to witness fastest growth at an estimated CAGR of 4.2% from 2014 to 2020. Pharmaceuticals along with food and beverage were the other large application segments for glass packaging and are expected to witness substantial growth over the next five years. However, the substitution of glass by plastic as a medium of packaging is expected to be a key restraint for the growth of the market.
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Further Key findings from the study suggest:
View all Related Repots from same Category: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
For the purpose of this study, Grand View Research has segmented the global Glass Packaging market on the basis of application and region:
• Glass Packaging Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 – 2020)
• Food and Beverage
• Alcoholic Beverages
• Glass Packaging Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 – 2020)
• North America
• Asia Pacific
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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