Published By : 09 Dec 2016 | Published By : QYRESEARCH
Glass packaging, which includes jars and bottles are used to store both solid and liquid substances. Glass packaging is used to pack a variety of items such as food, pharmaceuticals, alcoholic and non-alcoholic beverages, and chemicals. They are also used for cosmetics such as chemicals, nail polishes, and perfumes. Thus, the demand for glass packaging will continue to grow over the coming years. The main driver of the glass packaging market is expected to remain increasing consumption of beer. Since glass packaging offers advantages such as sterility, negligible chemical leeching into glass, and reusability, they are expected to have a high demand from the healthcare industry.
Alcoholic Beverages to Remain Largest Application Segment
Alcoholic beverages has been the largest application segment and is expected to continue to remain so in the coming years. The beer segment is expected to be the second largest application in the future. The demand for beer, wines, and other liquors is growing at a remarkable rate, driving the market. Moreover, glass is being preferred owing to the fact that they improve shelf life and reduce the effect of UV rays on these drinks. Thus, the demand for glass packaging for the storage of beer and liquor is expected to continue to drive the market.
Asia Pacific to be Lucrative Regional Market for Glass Packaging
Amongst various regions such as North America, Europe, Asia Pacific, and the Rest of the World, the demand for glass packaging was maximum from Asia Pacific in 2013. The market for glass packaging is expected to witness a high growth in the coming years on account of the rising disposable income of the consumers in the region. The region is heavily influenced by western values and thus, the demand for beer has increased in Asia Pacific. In addition to this, developing nations such as Brazil and South Africa are also expected to witness significant demand for glass packaging owing to high consumption of alcoholic beverages.