A report by Transparency Market has valued the global market for glass packaging (food, beverage and pharmaceutical) at US$47.43 billion in 2012, with an expected increase of US$59.94 billion by 2019.
In terms of volume, global demand was 45.71 million tons in 2012 and is expected to grow at a CAGR of 3.1% from 2013 to 2019.
Dark colored glass bottles are often used in packaging of beer as glass helps in deflecting UV rays, and a rise in global consumption of beer is expected to be one of the primary factors driving the glass packaging market.
In addition, the growth of the healthcare industry and rising use of glass bottles for storage of medicines due to its sterility and reusability is expected to augment the demand for glass packaging over the next few years.
Growing consumer preference towards glass for packaging of food, beverages and chemicals is expected to open new opportunities for the growth of the market over the next few years.
Alcoholic beverages (excluding beer) were the largest application segment of the glass packaging market and accounted for over 50% of the total demand in 2012.
Asia Pacific was the largest market for glass packaging and accounted for over 16.1 billion of the overall revenue in 2012.
Growing consumption of beer and alcoholic beverages in countries such as India, China, Thailand, Australia and Indonesia are expected to boost the demand for glass as packaging medium in these countries.
Europe was the second largest market for glass packaging accounting for over 13.34 million tons of overall demand in 2012.