South Korea Container Glass Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 0.8 Million tons |
| Market Volume (2029) | 1.15 Million tons |
| CAGR (2024 - 2029) | 6.33 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South Korea Container Glass Market Analysis
The South Korea Container Glass Market size in terms of shipment volume is expected to grow from 0.8 Million tons in 2024 to 1.15 Million tons by 2029, at a CAGR of 6.33% during the forecast period (2024-2029).
The diverse demands of industries like pharmaceuticals, beverages, and cosmetics influence South Korea's container glass market. These sectors are pivotal in driving growth and shaping the market's dynamics.
- The South Korean pharmaceutical industry prioritizes quality and safety in packaging, particularly for liquid medications. Companies are increasingly adopting measures to mitigate risks during the transport and handling of glass containers, ensuring the integrity of their products.
- Dongwha Pharmaceutical exemplifies this proactive approach by minimising the risk of breakage. For instance, they've reduced the number of glass bottles in their distribution packs from 100 to 50. This strategic decision bolsters product safety and quality during transport and highlights the company's dedication to delivering intact medications to consumers. Such initiatives underscore the industry's commitment to upholding high standards in pharmaceutical packaging.
- The beverage sector is another cornerstone of South Korea's container glass market. The enduring preference for glass bottles, celebrated for their premium look and superior ability to preserve beverage taste and quality, continues to fuel demand. Both consumers and manufacturers appreciate glass for its aesthetic and functional advantages, driving consistent production and sparking sector-wide innovation. Companies are also embracing sustainable practices, ramping up recycling efforts, and opting for lightweight glass to cut transportation costs, all in line with environmental priorities.
- In cosmetics, high-end and eco-conscious brands are gravitating towards glass, boosting demand for uniquely designed and durable containers. The allure of luxury and the push for sustainable packaging amplify the preference for glass in cosmetics. Its recyclability and eco-friendliness align with the global move towards sustainable packaging solutions. This trend finds further endorsement in South Korea's strong commitment to green practices and innovation, solidifying glass's status as a preferred choice in cosmetics.
- However, despite the growth in these sectors, the South Korean glass container market grapples with challenges like fluctuating raw material costs and supply chain disruptions. Still, the market remains steadfast in upholding the quality standards demanded by the pharmaceutical, beverage, and cosmetic industries. Companies that channel investments into design innovation, logistical enhancements, and sustainable practices are poised to carve out a competitive advantage in this dynamic market landscape.
South Korea Container Glass Market Trends
Demand From Food and Cosmetics Sector Drives Growth
- Driven by changing consumer preferences and robust industrial support, South Korea's container glass market is on an upward trajectory. Projections from the Korean Statistical Information Service (KOSIS) indicate that the glass and glass products manufacturing sector is poised to reach an estimated revenue of around USD 8.0 billion by 2024 from USD 7.27 billion in 2020. This anticipated growth is driven by surging domestic consumption and a thriving export market.
- South Korea's container glass market is driven by surging demand from the cosmetics and pharmaceutical sectors. Both industries emphasize packaging that safeguards product integrity and aligns with consumer expectations regarding safety and environmental stewardship. Given their superior chemical stability, glass containers are the preferred choice for delicate formulations in cosmetics and pharmaceuticals. Consequently, this trend has spurred heightened investments and production modifications tailored to these sectors' unique requirements.
- As South Korea pivots towards sustainable practices, the demand for container glass is adapting accordingly. With a growing preference for recyclable and non-toxic materials, food producers increasingly choose glass over plastic and other less eco-friendly alternatives. This movement resonates with government policies championing waste reduction and a circular economy. Bolstered by a robust recycling infrastructure, South Korea efficiently reuses glass containers, aiding in carbon footprint reduction.
- South Korea's glass manufacturing and recycling infrastructure is modern and expansive, adeptly catering to the nation's high demand. The country has established an efficient system for collecting, processing, and redistributing used glass, significantly curtailing the environmental repercussions of its consumption. This well-oiled machinery allows glass manufacturers to optimize operations, ensuring a consistent supply of containers while curbing resource wastage. Moreover, investments in advanced technology and production methodologies empower the industry to uphold competitive quality benchmarks, bolstering its stature in domestic and global arenas.
- Yet, the container glass sector in South Korea grapples with challenges like volatile energy prices and supply chain hiccups. Given the energy-intensive nature of glass production, surges in fuel or electricity costs can squeeze profitability and curtail production capabilities. While the industry boasts commendable recycling rates, there is an ongoing quest for innovations that enhance energy efficiency and cost-effectiveness in production.
Huge Demand From the Beverage Sector
- In recent years, the South Korean alcoholic beverage industry has experienced notable growth, fueled by evolving consumer preferences, innovative product developments, and the rising popularity of traditional drinks like soju and makgeolli. The market has diversified with the emergence of high-end and craft alcoholic beverages, particularly as younger consumers gravitate towards premium-quality products and international spirits.
- Furthermore, exports of Korean alcohol, especially soju, have seen a significant uptick, gaining traction in overseas markets. This upward trajectory has intensified competition among beverage manufacturers and has reverberated through related industries that support the production and distribution of these products.
- The container glass industry, pivotal for packaging alcoholic beverages, stands out as one of the critical sectors influenced by this growth. As demand for bottled drinks surged, so did the production requirements for glass containers. Introducing more premium and artisanal beverages has heightened the demand for superior, aesthetically pleasing glass packaging. In response, glass manufacturers have ramped their production capacity, embraced sustainable methods, and innovated designs to cater to beverage producers' evolving needs.
- Recent trends have seen significant breweries pivot from traditional coloured glass to clear glass bottles, amplifying their product appeal. This shift took root in 2021 when Oriental Brewery (OB) unveiled Cass Fresh, marking the debut of a domestically produced beer in transparent bottles. This move resonated with consumers, allowing them to appreciate the beer's clarity and projected modern aesthetic. Following OB's pioneering step, industry giants like Lotte Chilsung Beverage and Hite Jinro have embraced clear glass packaging for their flagship offerings, Kloud Crush and Terra Light.
- Data from the Ministry of Food and Drug Safety (MSDS South Africa) reveals that in 2023, Soju represented a significant 33.38% of total alcoholic beverage sales in South Africa, highlighting its global allure. At the same time, South Korea produced a staggering 1.33 million tons of Soju. This robust production and demand directly shape the country's glass bottle production and consumption patterns. Traditionally, Soju's packaging in small green glass bottles amplifies the demand for these containers, mirroring distillery output.
- Moreover, South Korea's adept recycling and reuse systems align with the nation's environmental sustainability goals, effectively managing this increased consumption rate. Thus, the surge in domestic and international Soju production underscores the intricate dance between the beverage and glass industries, emphasizing the crucial role of packaging in this growth narrative.
South Korea Container Glass Industry Overview
The South Korean container glass market is fragmented, with key players such as Verescence Pacific, Inc., Dongwon Systems, Somang Glass Co., Ltd., SGC Solutions Co., Ltd., and Soo Seok Co., Ltd. Each of these companies is making significant investments in research and development to carve out competitive advantages. Their focus spans technological enhancements and product innovations, catering to diverse sectors including pharmaceuticals, beverages, and cosmetics.
Notably, Verescence Pacific, Inc. specializes in luxury glass solutions tailored for cosmetics. In contrast, Dongwon Systems champions sustainability, utilizing recycled materials and energy-efficient production methods. Both Somang Glass Co., Ltd. and SGC Solutions Co., Ltd. are committed to producing lightweight, durable glass, aligning with current sustainability trends and logistical efficiencies. Meanwhile, Soo Seok Co., Ltd. caters to both domestic and export markets, offering customized, high-quality glass containers. Through these strategic R&D investments and a commitment to sustainability, these companies are adeptly navigating a market that prioritizes innovation, quality, and eco-conscious packaging.
South Korea Container Glass Market Leaders
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Soo Seok Co., Ltd
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SGC Solutions Co., Ltd
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Dongwon Systems
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Somang Glass Co., Ltd
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Verescence Pacific, Inc.
*Disclaimer: Major Players sorted in no particular order
South Korea Container Glass Market News
- August 2024: Stara Glass installed an oxy-fuel furnace at SooSeok's new production site in Dangjin, South Korea. The newly installed 220 tpd furnace is set to produce amber glass containers specifically for the pharmaceutical market. The production process utilizes oxy-combustion burners, supplemented by a substantial amount of electricity via a boosting system. In addition to supplying the furnace, Stara Glass provided engineering services and refractory materials and oversaw both the construction and commissioning stages.
- August 2023: SGC Solutions, a South Korean specialty glass manufacturer, unveiled its latest investments aimed at enhancing glass production. These investments focus on producing glass bottles and glass for washing machine doors. Notably, the manufacturer employs its advanced heat-strengthened glass technology for the production of washing machine door glass.
South Korea Container Glass 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 Import Export Data of Container Glass
4.3 PESTLE Analysis
4.4 Industry Standards and Regulations for Container Glass Use for Packaging
4.5 Sustainability Trends for Packaging
4.6 Container Glass Furnace Capacity and Location in South Korea
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Food and Beverage Industry in the Country
5.1.2 Local Manufacturing Initiatives, and Regional Export Opportunities
5.2 Market Challenges
5.2.1 High Production Costs and Infrastructure Deficits
5.3 Trade Scenerio - Analysis of the Historical and Current Export Import Paradigm for Container Glass Industry in South Korea
6. MARKET SEGMENTATION
6.1 By End-User Industry
6.1.1 Beverage
6.1.1.1 Alcoholic Beverages
6.1.1.1.1 Beer and Cider
6.1.1.1.2 Wine and Spirits
6.1.1.2 Non-Alcoholic Beverages
6.1.1.2.1 Carbonated Soft Drinks
6.1.1.2.2 Juices
6.1.1.2.3 Water and Other Non-Alcoholic Beverages
6.1.2 Food
6.1.3 Cosmetics
6.1.4 Pharmaceutical (Excluding Vials and Ampoules)
6.1.5 Other End-User Industries
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Soo Seok Co., Ltd
7.1.2 SGC Solutions Co., Ltd
7.1.3 Dongwon Systems
7.1.4 Somang Glass Co., Ltd
7.1.5 Verescence Pacific, Inc.
- *List Not Exhaustive
8. ANALYSIS OF MAJOR FURNACE SUPPLIERS TO MAJOR CONTAINER GLASS PLANTS IN THE REGION
9. FUTURE OUTLOOK OF THE MARKET
South Korea Container Glass Industry Segmentation
Container glass is designed for manufacturing glass containers, including bottles, jars, drinkware, and bowls. Its key attributes include chemical inertness, sterility, and non-permeability, rendering it especially sought after in the beverage, food, pharmaceutical, and cosmetic sectors. The research also examines underlying growth influencers and significant industry vendors, all of which help to support market estimates and growth rates throughout the anticipated period. The market estimates and projections are based on the base year factors and arrived at top-down and bottom-up approaches.
South Korea's Container Glass Market is Segmented by End-User Industry ((Beverages (Alcoholic Beverages (Beer and Cider, Wines and Spirits) and Non-Alcoholic Beverages (Carbonated Soft Drinks, Juices, Water and Other Non-Alcoholic Beverages)), Food, Cosmetics, Pharmaceutical, and Other End-User Industries). The Market Sizes and Forecasts are Provided in Terms of Volume (Tons) for all the Above Segments.
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| Other End-User Industries |
South Korea Container Glass Market Research FAQs
How big is the South Korea Container Glass Market?
The South Korea Container Glass Market size is expected to reach 0.8 million tons in 2024 and grow at a CAGR of 6.33% to reach 1.15 million tons by 2029.
What is the current South Korea Container Glass Market size?
In 2024, the South Korea Container Glass Market size is expected to reach 0.8 million tons.
Who are the key players in South Korea Container Glass Market?
Soo Seok Co., Ltd, SGC Solutions Co., Ltd, Dongwon Systems, Somang Glass Co., Ltd and Verescence Pacific, Inc. are the major companies operating in the South Korea Container Glass Market.
What years does this South Korea Container Glass Market cover, and what was the market size in 2023?
In 2023, the South Korea Container Glass Market size was estimated at 0.75 million tons. The report covers the South Korea Container Glass Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Container Glass Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Korea Container Glass Industry Report
Statistics for the 2024 South Korea Container Glass market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. South Korea Container Glass analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
