Glass Packaging Market

The glass packaging market is expected to increase, but that increase varies by research report. For example, Mordor Intelligence has it increasing at a CAGR of 4.39% between 2018 and 2026 to go from $56.64 billion in 2020 to $73.29 billion in 2026. Fortune Business Insights has the market growing from $60.32 billion in 2019 to $81 billion in 2027 for a CAGR of 3.95% during the forecast period. Meanwhile, Technavio is predicting a CAGR growth rate of almost 4% between 2020 and 2024. So, they’re all expecting an increase, but the question of which organization’s prediction pans out, if any of them, remains to be seen.

Where they all agree is the driving factor behind the growth: Every one of them sites glass’s well-known virtue of recyclability. Each research firm also makes note of the increase in consumption, led in this case by the beverage industry (which, in turn, is led by the alcoholic beverage segment).

The use of plastics is cutting into the growth of the glass market. The industry is attempting to mitigate those losses via coatings and other innovations to create shatter-proof glass containers.

Market Outlook by Packaging Segment

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Packaging Machinery & Automation

Paperboard & Corrugated Packaging

Flexible Plastic Packaging

Rigid Plastic Packaging

Glass Packaging

Metal Packaging

March 2021--•--packagingstrategies.com