The European glass packaging market size was valued at USD 19.24 Billion in 2019 and is projected to reach USD 33.07 Billion by 2032, at a CAGR of 4.45% during the forecast period based on our analysis in the existing report. Glass packaging remains a preferred choice in the food and beverage industry due to its inertness, consumer safety, and 100% recyclability, making it a highly sustainable solution. It is also widely used in cosmetics, pharmaceuticals, and fragrances. Despite COVID-19 disrupting most industries in Europe, glass packaging production continued as an essential commodity, playing a crucial role during the crisis, though demand declined sharply in early 2020.
Get Sample PDF Brochure@
Drivers & Restraints-
Growing Popularity of Bottled Beverages to Add Impetus to Market
The increasing demand for glass packaging from the food and beverage sector is a key factor boosting the Europe glass packaging market growth. Most of the alcoholic and non-alcoholic beverages such as milk, beer, sauces, juices, and others are packed in glass containers and bottles as glass helps to maintain the authenticity of the product stored in it without disrupting the taste or smell. Additionally, the increasing awareness about health and fitness and the rising inclination of people towards healthy food and drinks are expected to aid in the expansion of the market in the coming years.
On the contrary, the presence of substitutes such as plastic, paper and board, and metal packaging may hamper the market growth in the coming years. The increasing popularity of metal cans is likely to cause major hindrance to the europe glass packaging market. Nevertheless, the rising awareness about environment-friendly products is propelling the use of sustainable and eco-friendly packaging, thereby creating lucrative growth opportunities for the market in the near future.
Segmentation-
Beverages Segment to Cover Largest Share in the Coming Years
With respect to segmentation by end-use industries, the beverage segment earned 73.18% Europe glass packaging market share in 2019 and emerged dominant. The beer industry holds the major share, contributing to maximum shares in the beverage sector. Food industry, on the other hand, holds the second largest share.
Regional Analysis-
West European Nations hold Highest Share Owing to Increasing Inclination towards Environment-friendly Products
Nation wise, the western nations such as the United Kingdom, France, Germany, and Italy are holding more than 55% share and held the largest market share in 2019. They are further expected to continue doing so in the coming years owing to the rising inclination towards environment-friendly packaging products.
Competitive Landscape-
Vendors are Engaging in Joint Ventures to Gain Competitive Edge
The competitive landscape of the market for Europe glass packaging is bestowed by many players. Most of them are engaging in joint ventures and other collaborative agreements to hold significant position in the europe glass packaging market competition. The others are investing in strengthening their portfolio by expanding to other nations such as Portugal and Spain.
Some Industry Developments of the Market include:
October 2019 – Renovation of clear-glass furnace was successfully completed by Gerresheimer AG. It installed a new and improved technology in the factory will help to reduce the energy needs and multiply the overall glass production capacity for its consumers in the healthcare and pharmaceutical industry.
Some of the Key Players of the Market for Europe Glass Packaging include
- Ardagh Group S.A.
- Steklarna Hrastnik, d. o. o.
- Bruni Glass
- Groupe Pochet
- Vetropack Group
- Gerresheimer AG
- HEINZ-GLAS GmbH & Co. KGaA
- Verallia
- Bormioli Luigi SpA
- Stolzle-Oberglas GmbH
- Others
Inquire Before Buying Report:
https://www.fortunebusinessinsights.com/enquiry/queries/europe-glass-packaging-market-103472
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +18339092966
UK: +448085020280
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
