By 2026, the Europe glass packaging market share is projected to surpass a staggering revenue of $21 billion.
In order to mitigate the potential shortages for COVID-19 vaccine packaging solutions, several manufacturers of glass vials and containers have been striving to improve their production capacities across Europe. With recycled and sustainable glass packaging solutions trending, the Europe glass packaging industry is anticipated to receive a considerable impetus.
The following three trends have been generating opportunities for the Europe glass packaging industry outlook:
Borosilicate glass to exhibit accelerated demand
The borosilicate glass segment held over 25% of the Europe glass packaging industry revenue in 2019. Borosilicate glass bottles and other packaging containers are utilized across the medical and pharmaceutical industries for the packaging of drugs, spirits, and medicines.
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The large-scale requirement for vials, bottles, and other glass packaging solutions for COVID-19 vaccines is expected to offer a significant boost to the Europe glass packaging market over the forthcoming times. Additionally, not only are glass packaging alternatives convenient to sterilize, they are also chemically inert, preventing reaction among the various chemical contents of the bottle. Apart from its extensive deployment across the pharmaceutical sector, borosilicate glass packaging is also widely preferred across oven & microwave, cookware, semiconductors, telescopes, and other applications.
Soda lime glass to dominate as innovative products enter market
In 2018, the soda lime glass segment held over 60% of the Europe glass packaging market share. Several leading industry players have been coming up with novel products. For instance, Stoelzle Glass Group, a prominent European manufacturer of superior quality packaging glass introduced a new stable, resource efficient, innovative, and safe Type II glass used in neutral and acidic aqueous preparations in December 2020. It developed a new technique for treating soda silica glass, with the goal to invent a technology for smaller bottles that are required in a range of pharma products. Sustainable glass packaging standards are also being prioritized. Thus, the Europe glass packaging market outlook appears to be all set for considerable expansion.
Alcoholic beverages segment to foster growth
Since the packaging of all varieties of premium and budget-friendly alcoholic drinks requires glass bottles, the alcoholic beverage segment is setting the tone for further progress of the Europe glass packaging market. Matching caps and corks, tamper-evident closures, and custom-made labels are also offered by leading manufacturers of glass bottles.
Building brand recognition is an important marketing strategy and harnessing the advantages of a handsome appearance can significantly create successful business endeavors. The perfect solutions offered by manufacturers is likely to push the Europe glass packaging market size.
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Moreover, the European beer industry is one of the major industries in the region. It has been driving the demand for glass packaging since some of the global beer producers reside in this region. The production and distribution of beer accounts for over $60 billion on an annual basis. Thus, the European beer industry is likely to fuel the growth of the Europe glass packaging market size.
Thus, with the escalating utilization of glass packaging solutions in food & beverage, perfumery & cosmetics, pharmaceutical, and spirits industries, the Europe glass packaging industry outlook can proffer key expansion opportunities.
Table of Contents (ToC) of the report:
Chapter 1. Methodology & Scope
- Market scope & definitions
- Research methodology
Chapter 2. Executive Summary
Chapter 3. Industry Insights
- Industry segmentation
- Industry ecosystem analysis
- Industry impact forces
- Growth drivers
- Growth restraints
- Regulatory overview
- Porter’s analysis
- PESTEL analysis
- Competitive landscape, 2018
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