Latin America Glass Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 6.56 Billion |
| Market Size (2029) | USD 8.20 Billion |
| CAGR (2024 - 2029) | 4.56 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Glass Packaging Market Analysis
The Latin America Glass Packaging Market size is estimated at USD 6.56 billion in 2024, and is expected to reach USD 8.20 billion by 2029, growing at a CAGR of 4.56% during the forecast period (2024-2029).
Glass packaging is a trusted choice for consumers prioritizing health, taste, and environmental safety. Glass packaging, valued for its premium nature, preserves product freshness and ensures protection. Additionally, the surging demand for eco-friendly products, coupled with a booming food and beverage market, propels the growth of the glass packaging market.
- As consumers place a premium on safe and health-conscious packaging, glass packaging is experiencing growth across multiple categories. Furthermore, technological innovations, such as embossing, shaping, and artistic finishes, amplify the appeal of glass packaging for end users.
- Driven by urbanization, shifting consumer preferences, and rising demand for beverages and alcoholic drinks, manufacturers are increasingly turning to glass packaging solutions. The United Nations reports that with 80% of its population residing in cities, Latin America and the Caribbean stand out as the most urbanized regions. Given these dynamics, the market is set for moderate growth in the coming years.
- While glass continues to be the favored packaging material for a range of products, the rising adoption of plastics as a substitute poses a challenge to the market's growth. Moreover, plastic advancements for safer applications further limit the scope of glass as a packaging material.
- In recent years, environmental awareness has surged. Companies and consumers are increasingly mindful of how their choices impact the planet. Concurrently, policymakers are crafting frameworks and making decisions to bolster sustainability efforts. As a result, sustainability has firmly established itself on the global agenda, influencing societal, economic, and policy discussions and subsequently driving the demand for glass packaging.
- The market also faces challenges. Several Latin American nations need help with underdeveloped recycling infrastructures, which complicate the collection and processing of glass waste. Consequently, this often results in glass waste being diverted to landfills or incineration. Glass contends with packaging rivals like plastic, which frequently offer cost advantages and enjoy broader usage.
Latin America Glass Packaging Market Trends
Increasing Demand from the Beverages Segment is Expected to Drive the Market
- In Latin America, beverage launches and sales have risen over the past few years. The increasing demand for glass packaging from alcoholic and non-alcoholic beverages has drawn players to establish their manufacturing units in Brazil.
- The increase in the percentage of adults and young adults in Brazil consuming soft drinks five or more days per week, as reported by Ministério daSaúde, indicates an increasing demand for soft drinks in the country. This rise in consumption is likely to positively impact the demand for glass bottles in the soft drink industry.
- According to the Brazilian Institute of Geography and Statistics, the revenue from the manufacturing of spirits and other beverages in 2019 was USD 902.11 and reached USD 949.32 million in 2023. Therefore, as the consumption of soft drinks increases, there will likely be a corresponding increase in the demand for glass bottles as packaging options to meet consumer preferences and market demand.
- According to Glanbia Nutritionals, in Latin America, there is a rising demand for beverages that boost natural energy. A significant 69% of Mexican consumers express interest in products that sustain their energy throughout the day, underscoring the demand for prolonged vitality.
- Moreover, the ongoing shift toward healthier, clean-label choices is set to shape the functional beverage landscape in Latin America. Key growth areas on the horizon include "protein +" beverages, which encompass protein-infused energy drinks that can integrate a variety of healthy ingredients without sugar or calories. Partnering with a beverage ingredient supplier that is well-versed in beverage innovation and regional nuances is paramount for manufacturers eyeing the Latin American market.
Mexico is Expected to Witness Robust Expansion in the Market
- Rapid technological growth in packaging equipment and changing busy lifestyles in the country are anticipated to drive the market's growth during the forecast period. Mexico attracted foreign glass packaging makers and other companies owing to abundant natural resources, low-cost labor, and increasing consumer expenditure.
- The growing production of cola drinks in Mexico, as reported by the National Institute of Statistics and Geography (INEGI), is driving the demand for glass packaging. In April 2023, the sales volume of cola drinks totaled nearly 1.11 billion liters, marking an increase from the previous month. This surge in sales highlights the need for glass packaging to accommodate the rising production levels in the beverage industry.
- Additionally, integrating small-scale producers into larger cooperatives or companies, like LaLa and Alpura, enhances efficiency and economies of scale. This growth in fluid milk production is expected to support the demand for glass packaging in the dairy segment. With increased production levels, there will be a greater need for packaging materials, including glass bottles, to accommodate the expanded output of fluid milk. According to the FAO and the US Department of Agriculture, as dairy operations become more efficient, the demand for packaging solutions like glass bottles is expected to rise in the dairy industry.
- According to Consejo Regulador del Tequila, the production volume of tequila in 2019 was 351.7 liters. In Mexico, the average per capita consumption of pure alcohol stands at 4.9 liters, with men outpacing women in consumption. Notably, the 18–29 age group leads with a per capita consumption of 7.6 liters.
- Further, in October 2023, Coca-Cola's investment of USD 133 million to expand dairy and juice production at Jugosdel Valle-Santa Clara's plant in Jalisco, Mexico, is expected to support the demand for glass packaging. As production increases, there will likely be a corresponding need for packaging materials, including glass bottles, to accommodate the expanded output of dairy and juice products. This investment signals growth in the beverage sector, particularly in Mexico, which can stimulate demand for glass packaging.
Latin America Glass Packaging Industry Overview
The Latin American glass Packaging Market is fragmented, with few domestic and international players such as Vitro SAB de CV, Fusión y Formas SA de CV, Gerresheimer AG, Owens-Illinois Inc., and Verallia Group. To retain their market share, companies keep on innovating and entering into strategic partnerships.
- July 2024: Vitro Glass Containers completed the anniversary of a new furnace at its Toluca plant in Mexico, boosting its capacity to cater to the perfumery and liquor segments by over 50%. This USD 70 million investment in the new furnace is set to produce 230 tons daily. With this upgrade, Vitro's Toluca facility positions itself among the world's largest producers of glass containers, specifically targeting cosmetic products, premium liquors, and specialty items. The furnace, crafted with cutting-edge technology, aims to optimize energy consumption and significantly reduce CO2 emissions.
Latin America Glass Packaging Market Leaders
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Verallia Group
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Owens-Illinois Inc.
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Gerresheimer AG
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Fusion and Forms SA de CV
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Vitro S.A.B. de C.V
*Disclaimer: Major Players sorted in no particular order
Latin America Glass Packaging Market News
- March 2024: HORN Glass Industries AG, a premium provider of glass-melting technology, established a new plant with an advanced and eco-friendly glass-melting furnace for Ambev, a Brazilian brewing company, as it is establishing a sustainable container glass plant in Carambei, located in the state of Paraná. This furnace boasts a daily output of 400 tonnes of bottles and is complemented by three forehearths for glass conditioning. The plant will produce container bottles in flint, amber, and green hues. Currently under construction, the plant will produce bottles for esteemed brands like Stella Artois, Beck’s, and Spaten.
- November 2023: BA Glass acquired a 60% equity stake in Vidrio Formas, a Mexican glass packaging producer. This acquisition establishes BA Glass's direct foothold in Mexican and American glass packaging markets. The partnership seeks to capitalize on the group's industrial strengths, merging the talents and expertise of the newly renamed BA Glass México (formerly Vidrio Formas) and BA Glass Europe teams. Such acquisitions are expected to create opportunities for glass packaging in the region.
Latin America 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 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Ecosystem Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Demand for Eco-friendly Products
5.1.2 Rising Demand from the Food and Beverage Market
5.2 Market Restraints
5.2.1 Rising Operational Costs
5.2.2 Growing Usage of Substitute Products (Plastic)
6. MARKET SEGMENTATION
6.1 By Product Type
6.1.1 Bottles
6.1.2 Vials
6.1.3 Ampoules
6.1.4 Jars
6.1.5 Other Product Type
6.2 By End-user Industry
6.2.1 Beverages
6.2.1.1 Alcoholic**
6.2.1.1.1 Beer and Cider
6.2.1.1.2 Wine and Spirit
6.2.1.1.3 Other Alcoholic Beverages
6.2.1.2 Non-Alcoholic**
6.2.1.2.1 Carbonated Soft Drinks
6.2.1.2.2 Milk
6.2.1.2.3 Water
6.2.1.2.4 Other Non-Alcoholic Beverages
6.2.2 Food
6.2.3 Personal Care and Cosmetics
6.2.4 Healthcare and Pharmaceutical
6.2.5 Other End-user Industries
6.3 By Country
6.3.1 Brazil
6.3.2 Mexico
6.3.3 Argentina
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Corning Incorporated
7.1.2 Heinz-Glas Gmbh & Co. KgaA
7.1.3 Verallia Group
7.1.4 Owens-Illinois Inc.
7.1.5 Gerresheimer AG
7.1.6 Fusion and Forms SA de CV
7.1.7 Vitro SAB de CV
7.1.8 Saverglass SAS
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Latin America Glass Packaging Industry Segmentation
The Latin American glass packaging market study considers revenues accrued from the sales of different glass packaging products by various market vendors. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates during the forecast period.
The Latin American glass packaging market is segmented by product type (bottles, vials, ampoules, jars, and other product types), end-user industry (beverages (alcoholic (beer and cider, wine and spirit, and other alcoholic beverages) and non-alcoholic beverages (carbonated soft drinks, milk, water, and other non-alcoholic beverages)), food, personal care and cosmetics, healthcare and pharmaceutical, and other end-user industries), and country (Brazil, Mexico, Argentina, and Rest of Latin America).
The report offers market sizes and forecasts in value (USD) for all the above segments.
| By Product Type | |
| Bottles | |
| Vials | |
| Ampoules | |
| Jars | |
| Other Product Type |
| By End-user Industry | |||||||||||||
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| Food | |||||||||||||
| Personal Care and Cosmetics | |||||||||||||
| Healthcare and Pharmaceutical | |||||||||||||
| Other End-user Industries |
| By Country | |
| Brazil | |
| Mexico | |
| Argentina |
Latin America Glass Packaging Market Research FAQs
How big is the Latin America Glass Packaging Market?
The Latin America Glass Packaging Market size is expected to reach USD 6.56 billion in 2024 and grow at a CAGR of 4.56% to reach USD 8.20 billion by 2029.
What is the current Latin America Glass Packaging Market size?
In 2024, the Latin America Glass Packaging Market size is expected to reach USD 6.56 billion.
Who are the key players in Latin America Glass Packaging Market?
Verallia Group, Owens-Illinois Inc., Gerresheimer AG, Fusion and Forms SA de CV and Vitro S.A.B. de C.V are the major companies operating in the Latin America Glass Packaging Market.
What years does this Latin America Glass Packaging Market cover, and what was the market size in 2023?
In 2023, the Latin America Glass Packaging Market size was estimated at USD 6.26 billion. The report covers the Latin America Glass Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Glass Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Glass Packaging Industry Report
Statistics for the 2024 Latin America Glass Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Glass Packaging analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
