Metals and plastics has been a substitute material for glass. With the increasing preference for metal cans and plastic bottles, glass is expected to lose traction in the coming years. Moreover, increase in packaging highly-reactive fluids, alcoholic beverages and industrial solvents is expected to reverse the preferences over the years. The global glass container market is expected to register a moderate 4.1% CAGR in terms of revenue over the forecast period, 2016-2026.
The global market for glass containers will continue to face challenges as various manufacturers are striving to manage the price-related pressures. In addition, due to constant consolidation of customer base for glass containers, manufacturers witness an intensifying pricing pressure, compelling them to cater to demand for relatively low prices among big clients.
Moreover, products such as coffee, baby food, sauces and such other products that were once packaged in glass containers are now substituted by metal tins and plastic bottles. Furthermore, attributed to expensive manufacturing prices of glass containers, their heavy weight and fragile composition have further compelled food and beverages manufacturers to shift towards plastic and metal packaging.
Over two-third of the global revenues in the global container market will be held by glass bottles. In addition, while the candle glass vials and glass containers will witness a decline in terms of consumption, glass jar will witness a significantly high demand in the span of next ten years. Moreover, with surge in demand for glass containers in cosmetics and perfumery, revenues are likely to increase at a CAGR of 4.6% over the following decade. Glass containers will account for a revenue share of over 28% in the glass container market globally in the span of next ten years.
Europe among other regions will represent a major market for glass containers over the following decade. In addition, Europe will hold relatively high revenue share as compared to Asia Pacific, which holds nearly 33% revenue share in the span of next ten years.
Leading manufacturers operating in the global glass container market include Amcor Limited, Vidrala SA, BA Glass, Owens-Illinois, Inc., Ardagh Group SA, Saverglass Group, Hindusthan National Glass & Industries Limited, Consol Glass (Pty) Ltd. and Weigand Glas.