Market Trends of Asia Pacific Glass Packaging Industry
This section covers the major market trends shaping the APAC Glass Packaging Market according to our research experts:
The Beverage Segment is Expected to Account for Significant Market Share
- For alcoholic beverages, the glass packaging sector faces fierce competition from the metal packaging industry. However, glass packaging is expected to keep a sizable portion of the market during the projection period, increasing the use of expensive goods. The demand for various beverage items, including coffee, juices, tea, non-dairy beverages, and soups, is projected to rise.
- Among alcoholic beverages, the beer market has experienced a considerable expansion in recent years. Beer is generally sold in bottles, driving the glass packaging industry's production rates. The rising demand for alcoholic beverages also accelerates the production.
- Emerging nations like China, India, and Thailand have greater perceptions of beer quality. As a result, growing beverage consumption is likely to drive the growth of the glass packaging market in Asia-Pacific throughout the forecast period.
- As the world's population increases, consumption of these essential non-alcoholic beverages is anticipated to rise. The expanding availability of bottles in different sizes in the retail market, as well as innovation in design and chemical composition that results in reduced weight of glass bottles, are additional factors that are anticipated to significantly increase the demand for glass packaging of alcoholic beverages during the forecast period.
- Many producers of alcoholic beverages are emphasizing recycled materials in their packaging and increasing the amount of recycled glass used in their bottles. For example, Absolut pledged to reduce packaging waste by releasing a limited-edition design composed of 41% recycled glass.
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China Accounts for the Largest Market Share
- Glass has become famous for drug storage containers in the past few decades. They are usually used to keep food and drinks. Compared to other containers, they have a few benefits, including strength, durability, and the capacity to maintain flavor, quality, and taste.
- Due to the expanding need for glass vials to provide COVID-19 vaccines, the accessibility of raw materials, and rising personal disposable income, China may continue to lead the glass packaging market in the Asia-Pacific region during the forecast period.
- A few other growth reasons in the region include increased personal discretionary income and the need for creative packaging solutions using cutting-edge manufacturing techniques.
- Another key aspect anticipated to boost market expansion is the expanding food and beverage industry. The government's growth initiatives to promote the usage of eco- friendly products may also boost the growth of the glass packaging market across the region.
- Due to its aging population, China has one of the largest pharmaceutical and healthcare markets in the world. However, foreign pharmaceutical businesses are finding it difficult to operate in the country due to recent regulatory changes in China, particularly when it comes to market access and price regulation. Thus, local players may have a chance to grow as a result of the possible rise in demand for glass bottles and containers from these businesses.
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