India Glass Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 6.48 Billion |
| Market Size (2029) | USD 8.00 Billion |
| CAGR (2024 - 2029) | 4.31 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Glass Packaging Market Analysis
The India Glass Packaging Market size is estimated at USD 6.48 billion in 2024, and is expected to reach USD 8 billion by 2029, growing at a CAGR of 4.31% during the forecast period (2024-2029).
The manufacturing and production of packaging and relatable industries are only functional in many countries where packaging contributes significantly to GDP. The trend witnessed a shift of focus from glass packagers in the country to the pharmaceutical industry.
- India contributes the second-largest share of the pharmaceutical and biotech workforce worldwide. According to the Indian Economic Survey of 2021, the pharmaceutical market is expected to grow three times in the next decade. The country's pharmaceutical market was projected at USD 41 billion in 2021 and will reach USD 65 billion by 2024 and further expand to around USD 120-130 billion by 2030.
- Glass bottle characteristics, such as being non-porous, impermeable, eco-friendly, and aesthetically pleasing, lead to ever-increasing use in the packaging industry. In India, the glass industry is well established and has remained a cottage industry for a long time. The sector is recently evolving from hand-working processes to modern automation methods. According to the Hindusthan National Glass & Industries Ltd, Indian per capita consumption of glass packaging (1.8 kg) is much lower than other nations.
- The glass packaging industry is also driven by the growing environmental awareness among consumers, with glass packaging being reusable and an environmentally friendly alternative to plastic packaging. The increasing disposable incomes and changing consumers' lifestyles are also expected to drive the market's growth.
- One of the main challenges for the market is the increased competition from alternative forms of packaging, such as aluminum cans and plastic containers. The items are lighter in weight than the bulky glass, gaining popularity among manufacturers and customers because of the lower cost involved in their carriage and transportation. Moreover, the glass packaging industry is recently concentrating on increasing traceability to restrict counterfeit activities in the country. The companies are mentioned using permanent engravings on containers, protecting consumers from harmful practices by spurious product manufacturers.
- The recent investing trend in vaccines for COVID-19 in the country is emerging as a significant driver for the vials growth. For instance, according to IBEF, the Indian pharmaceutical sector supplies more than 50% of the global demand for various vaccines, around 40% of the generic market for the United States, and 25% of all medicines for the United Kingdom.
India Glass Packaging Market Trends
This section covers the major market trends shaping the India Glass Packaging Market according to our research experts:
Glass Bottles/Containers Expected to Witness Significant Demand
- In India, only the usage of glass packaging solutions, especially bottles, is increasing as consumers emphasize eco-friendly and healthy options and prefer glass packaging over other options. Also, the country comprises many companies, including Hindustan National Glass and Asahi India Glass, offering glass packaging solutions across industries.
- Last year, India's container glass producer Sunrise Glass added a new furnace with an installed capacity of 240 TPD. The company currently operates two furnaces with a combined installed of 380 TPD. The company stated that the stove would have four lines with three AIS 10 triple gob (TG) Emhart Machines. All the lines will have EVM (Inspection Machines). With this capacity expansion, the company focuses on catering to significant liquor clients and exports to the USA and Europe for food-grade jars.
- Multinational pharmaceutical glass producers, along with Indian pharmaceutical glass producers, have invested in increasing designed capacity over the last three years. In addition, leading global pharmaceutical glass producers Gerresheimer, SGD Pharma, and Schott have invested capital in Indian operations. Such initiatives by other players are estimated to take place in recent years and will fuel the demand for glass bottles in the country.
- Considerable investments in the beverages, food processing, personal care, and pharmaceutical end-user industries have created enormous opportunities for the country's bottles/container glass industry. Alcoholic beverages are the largest sub-segment for bottles/container glass consumption on a volume basis, followed by food, pharmaceutical glass, and cosmetics & perfumery.
Beverage Sector Expected to Witness Significant Demand
- Glass bottles and containers are majorly used in the alcoholic and non-alcoholic beverage industries due to their ability to maintain chemical inertness, sterility, and non-permeability. Drinks such as beer account for a significant market share, as glass does not react with the chemicals present in drinks and, therefore, preserves the aroma, strength, and flavor of these beverages, making them a good packaging option. Due to this reason, most beer volume is transported in glass bottles, and this trend is expected to continue over the study period. Beer is packaged in dark-colored glass bottles to preserve the contents, which are prone to spoilage when exposed to UV light.
- The beverage end-user vertical is driving the market demand in the country. According to ASSOCHAM, glass and rigid plastics constitute about two-thirds of packaging in India's beverage sector. However, the industry's glass packaging scope is expanding due to growing environmental concerns. Increasing glass packaging usage for Beverages, especially for the alcoholic Ready to Drink (RTD) segment, is a current trend in the Beverage packaging industry of India. The glass packaging industry is primarily boosted by increasing alcoholic beverage consumption in the country.
- Moreover, ICRIER (Indian Council for Research on International Economic Relations) said over 70% of the growth in alcoholic beverage consumption in India in the next decade would be driven by the lower middle and upper middle-income groups, and there is a growing trend toward product premiumization.
- Soft drinks are the most significant contributor on which the business of non-alcoholic drinks rests. Glass bottles retain a 35% share of sales for Coke in India. Beverage maker Coca-Cola India Pvt. Ltd. is again promoting returnable glass bottles. The bottles rolled out last year at INR 10 (USD 0.15) price point (200 ml) in select states are available across the company's top-selling brands, such as Coca-Cola, Thums Up, and Sprite. In some markets, glass bottles now make up 30% of beverage sales (source: Coca-Cola).
- Many beverages are expected to use glass bottles, particularly those from large manufacturers that have been decorated with glass bottles. The main advantage for the user is that there is almost no dissolution from container materials when glass bottles are used as packaging containers for juice or other drinks.
India Glass Packaging Industry Overview
The India Glass Packaging Market is competitive owing to multiple players, which led the market to be moderately consolidated. Players in the market, such as Schott Kaisha Pvt Ltd., AGI glaspac., Piramal Glass Limited, Borosil Glass Works Limited, and Haldyn Glass Limited are adopting strategies like product innovation, partnerships, and mergers and acquisitions to increase their market share further. Some of the critical advancements in the market are:
- August 2022 - Soda ash producer Nirma submitted an INR 16,500 million (USD 206 million) plan to acquire one of the most prominent Hindustan National Glass Limited (HNGL). Africa-based bottle maker Madhvani Group and container glass producer AGI Greenpac have also submitted separate resolution plans for the company.
India Glass Packaging Market Leaders
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Schott Kaisha Pvt Ltd (SCHOTT AG)
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AGI glaspac (HSIL Ltd)
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Piramal Glass Limited
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Borosil Glass Works Limited (Klasspack Pvt. Ltd.)
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Haldyn Glass Limited (HGL)
*Disclaimer: Major Players sorted in no particular order
India Glass Packaging Market News
- May 2022 - Gerresheimer enhanced its manufacturing capabilities in India to ensure consistent local supply for pharma and healthcare operations by opening a new plant producing plastic containers and closures at its Kosamba manufacturing site. It also invested in the furnace at its molded glass plant at that location, installing a Type I borosilicate melting furnace for flint and amber glass production.
- February 2022 - Marriott and Taj, the major hospitality players in the country, announced to eliminate the use of PET bottles by replacing them with paper-sealed reusable glass bottles. Marriott has mentioned that they consume over two million plastic bottles annually.
India Glass Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of COVID-19 on the Industry
4.5 Trade Scenario Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Environmental Awareness Among the Population
5.1.2 Increasing Beverage Consumption in the Country
5.2 Market Restraints
5.2.1 Alternative Packaging Options such as Aluminum and Plastic
6. MARKET SEGMENTATION
6.1 By Product ( Revenue in USD Billion and Volume in Million Metric Tones)
6.1.1 Bottles/Containers
6.1.2 Vials
6.1.3 Ampoules
6.1.4 Syringe/Cartridges
6.2 By End-user Vertical ( Revenue in USD Billion and Volume in Million Metric Tones)
6.2.1 Food
6.2.2 Beverage (Soft Drinks, Milk, Alcoholic Beverages, Other Beverage Types)
6.2.3 Cosmetics, Perfumery and Personal Care
6.2.4 Pharmaceuticals
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Schott Kaisha Pvt Ltd (SCHOTT AG)
7.1.2 AGI Glaspac (HSIL Ltd)
7.1.3 Piramal Glass Limited
7.1.4 Hindustan National Glass & Industries Limited (HNGIL)
7.1.5 Schott Poonawalla Private Limited
7.1.6 Gerresheimer AG
7.1.7 Borosil Glass Works Limited (Klasspack Pvt. Ltd.)
7.1.8 Haldyn Glass Limited (HGL)
7.1.9 Sunrise Glass Industries Private Limited
7.1.10 Ajanta Bottle Pvt Ltd
7.1.11 G.M Overseas
7.1.12 Empire Industries Limited- Vitrum Glass
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
India Glass Packaging Industry Segmentation
Glass is one of the most preferred packaging materials for consumers concerned about their health and the environment. It is made from all-natural, sustainable raw materials. Glass packaging preserves the product's taste or flavor and maintains the integrity or healthiness of food and beverages.
The study tracks the market for glass packaging in India based on the analysis of products and end-user industries. It provides a detailed assessment of the glass packaging market based on the underlying factors related to the demand for glass packaging products. The India Glass Packaging Market is segmented by type (bottles/containers, vials, ampoules, syringe/cartridges) and end-user vertical (food, beverage ((soft drinks, milk, alcoholic beverages, and other beverage types)), cosmetics, perfumery, and personal care, and pharmaceuticals).
The market sizes and forecasts are in terms of value (USD million) for all the above segments.
| By Product ( Revenue in USD Billion and Volume in Million Metric Tones) | |
| Bottles/Containers | |
| Vials | |
| Ampoules | |
| Syringe/Cartridges |
| By End-user Vertical ( Revenue in USD Billion and Volume in Million Metric Tones) | |
| Food | |
| Beverage (Soft Drinks, Milk, Alcoholic Beverages, Other Beverage Types) | |
| Cosmetics, Perfumery and Personal Care | |
| Pharmaceuticals |
India Glass Packaging Market Research FAQs
How big is the India Glass Packaging Market?
The India Glass Packaging Market size is expected to reach USD 6.48 billion in 2024 and grow at a CAGR of 4.31% to reach USD 8.00 billion by 2029.
What is the current India Glass Packaging Market size?
In 2024, the India Glass Packaging Market size is expected to reach USD 6.48 billion.
Who are the key players in India Glass Packaging Market?
Schott Kaisha Pvt Ltd (SCHOTT AG), AGI glaspac (HSIL Ltd), Piramal Glass Limited, Borosil Glass Works Limited (Klasspack Pvt. Ltd.) and Haldyn Glass Limited (HGL) are the major companies operating in the India Glass Packaging Market.
What years does this India Glass Packaging Market cover, and what was the market size in 2023?
In 2023, the India Glass Packaging Market size was estimated at USD 6.21 billion. The report covers the India Glass Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Glass Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Glass Packaging Industry Report
Statistics for the 2024 India Glass Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Glass Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
