The chemical industry has undergone tremendous changes over the past decade. Armed with an extensive and diverse range of products, the industry has found prolific success in developing as well as developed economies. Post the economic recession of 2007, this industry has grown at a steady pace. Spreading awareness about environmental issues and evolving consumer preferences are positively impacting this industry. As per the European Chemical Industry Council, the demand and consumption of chemicals in Europe is anticipated to increase. Targeted investments in R&D for developing novel chemical-based products are likely to feed the proliferation of factories and other industrial units. Furthermore, the surging demand for chemicals is a consequence of increasing consumer spending.
The Europe glass packaging market size is likely to rise prominently in the coming years on account of the increasing use of glass bottles for packaging food and beverage products. Glass packaging is considered safe for consumers and has been used for food and beverage products for a long time. states that the value of this market was USD 19.24 billion in 2019 and will rise at a CAGR of 4.38% to reach USD 22.01 billion by the end of 2027. Employment in this sector is also expanding at a rapid rate, which in turn is expected to generate several growth opportunities. These factors are thus expected to drive the Europe glass packaging market in the forthcoming years.
Highlights of the Report
- What is the competitive nature of this market?
- Who are the key players of the market for Europe glass packaging and what are their key strategies?
- Which are the key end-users present in the market?
- What are the major industry developments of this market?
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.
Companies covered in the Europe glass packaging market are Ardagh Group S.A. SteklarnaHrastnik, d. o. o. Bruni Glass, Groupe Pochet, Vetropack Group, Gerresheimer AG, HEINZ-GLAS GmbH & Co. KGaA, Verallia, Bormioli Luigi SpA, Stolzle-OberglasGmbHand more players profiled.
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.
