North America Glass Packaging Market Size to Cover $8 bn by 2024
Monday, August 05, 2019
Press release from the issuing company
According to the Graphical Research new growth forecast report titled North America Glass Packaging Market By Application (Alcoholic Beverages, Beer, Food & Beverages, Pharmaceuticals), By Product (Borosilicate, De-alkalized Soda Lime, Soda Lime), Industry Analysis Report, Regional Outlook (U.S., Canada), Growth Potential, Competitive Market Share & Forecast Estimated to surpass USD 8.0 billion by 2024.
Glass packaging is used for many alcoholic as well as non-alcoholic beverages as they preserve the freshness, taste and aroma along while ensuring quality. The market exhibits promising future trends due to high consumer acceptance levels. Most of the consumers favor glass to protect the taste of beverages. U.S. and Canada are among the top leading counties in terms of alcohol consumption per capita. According to World Bank, U.S. accounted for 9.8 liters of pure alcohol consumption per capita whereas Canada accounted for 8.9 liters of pure alcohol consumption per capita in 2016. The increasing popularity of craft beer coupled with rising demand of other beverages are likely to trigger the glass packaging market in upcoming years.
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Growing ageing population and rising number of acute and chronic diseases will generate the demand for pharmaceutical products. Glass packaging is the perfect fit for pharmaceutical industry as they offer superior chemical resistance to medicines and restrict the entry of air and moisture. Additionally, they can get easily sterilized by application of heat. High investments in research & development and supportive government spending will positively influence the pharmaceutical sector. This in turn will spur the growth of market in near future.
Soda lime glass is commonly used glass packaging and will capture majority of market share during the forecast period owing to large number of applications in the production of jars and beverages for foods and beverages. Borosilicate glass will grow at a CAGR more than 2.5% between 2019 and 2024 due to high demand from pharmaceutical industry.
Alcoholic beverages will capture over 10% of volume share and will register CAGR more than 4.0% by 2024. High spending propensity and lifestyle trends will surge the demand of alcoholic beverages in North America. This will catapult the market between 2019 to 2024. Food and beverages sector will grow over 2,000 kilo tons of glass packaging production at the end of forecast period.
Key North America glass packaging market participants includes Gallo Glass Company, Ardagh Group, Saint Gobain, Owens-Illinois, etc.
North America glass packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Segments Covered in this Report:
North America Glass Packaging Market Size by Product
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