Glass Packaging Market worth $59,814.3 Million by 2019, According to the New Study on ASDReports

Monday 13 October 2014, Amsterdam

The Global Glass Packaging Market is expected to grow at a CAGR of 3.9% from 2014 to 2019 to reach a value of $59,814.3 million.

“Asia-Pacific isthe key market for Glass Packaging”

In 2013, Asia-Pacific region dominated the overall glass packaging market and accounted for over 33.0% of the market, by volume. The region is expected to witness the fastest growth in coming years due to increasing glass packaging consumption in alcoholic beverages and pharmaceutical applications. The glass packaging market in Asia-Pacific is primarily dominated by China and India owing to the vast consumer base in these countries. These developing nations dominate the glass packaging market in the region on account of rising urban population levels and increasing demand of beverages. Globally, China is the largest consumer and also the largest market for glass packaging products growing at a CAGR higher than the global average till 2019.

“Alcoholic beverage is the topmost application segment in the Glass packaging market”

Alcoholic beverage application takes the topmost position in the glass packaging market with around 58.3% share by value in 2013 while the fastest growth till 2019 in the glass packaging market is expected to come from applications such as pharmaceutical beverage packaging.

“Pharmaceutical packaging is the fastest growing segment in the Glass packaging market”

Pharmaceutical packaging application is expected to have the highest growth. It is estimated to grow at a CAGR of 4.2% in terms of value from 2014 to 2019. The increasing health awareness among the consumers and improving lifestyle of the consumers will increase the need for more sophisticated packaging that will drive the market for pharmaceutical packaging