Asia Pacific Glass Packaging Market Valuation to Reach $25bn by 2024
Thursday, August 08, 2019
Press release from the issuing company
According to the Graphical Research new growth forecast report titled Asia Pacific Glass Packaging Market By Application (Alcoholic Beverages, Beer, Food & Beverages, Pharmaceuticals, Others), By Product (Borosilicate, De-alkalized Soda Lime, Soda Lime), Industry Analysis Report, Regional Outlook (China, India, Japan, Australia, Indonesia, Malaysia) Estimated to surpass USD 25 billion by 2024.
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Rising alcohol consuming population throughout the year is likely to be the key driver for the Asia Pacific glass packaging market in the forecast period. Glass as packaging material provides chemical inertness and stability, that which leads to insignificant chemical leeching into reusability, sterility and glass. Though the plastics use may hamper the product growth, the consumer preference for glass packaging is increasing due to its use results in preservation of taste, quality and flavor of the contents. Glass supports in increasing the shelf life of the content, while preserving its quality. Additionally, transparency of glass helps consumers to view the stored contents.
The product segments in the Asia Pacific glass packaging market, borosilicate glass, de-alkalized soda lime glass and soda lime glass. Additionally, the segment is likely to gain by more than 5.0% CAGR over the forecast period. Among the product segment, soda lime glass is likely to occupy a noteworthy share in the industry. Soda lime glass is used in almost all glass packaging applications, especially, to store beverages bottles (alcoholic), beer, food and beverages etc. It is likely to grow significantly thus resulting in propelling Asia Pacific glass packaging market over the forecast timeframe.
The application segment of glass packaging market includes alcoholic beverages, beer, food & beverages, pharmaceuticals and others. Alcoholic beverages is likely to hold a highest share capturing approximately 50% of the Asia Pacific glass packaging market by 2024. The alcohol beverages mainly includes, spirits, wines etc. excluding beer. The growing alcohol consuming population over the globe will propel the segment’s industry growth. In healthcare applications, the glass packaging are preferred as they are sterility and provide chemical stability to the containing drug.
Key Asia Pacific Glass Packaging market participants includes Amcor Limited, Hindusthan National Glass & Industries Ltd., Ardagh Group, Gerresheimer AG, Bormioli Rocco S.p.A, Nihon Yamamura Glass Co, Ltd., Owens-Illinois, Inc., Piramal Glass Limited, Nihon Yamamura Glass Co, Ltd., Vitro Packaging LLC, etc.
Asia Pacific 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:
Asia Pacific Glass Packaging Market Value, By Product
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