Asia-Pacific Glass Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The Asia-Pacific glass packaging market will register a CAGR of 5.16% over the forecast period. The glass industry provides a range of glass packaging products for food and beverage, as well as for perfumery, cosmetics, and pharmacy. This form of packaging is considered one of the most trusted for health, taste, and environmental safety, as it maintains the freshness and security of the product inside for an extended period.

Key Highlights

• The demand for healthier and safer packaging is boosting the growth of the glass packaging industry in different categories. Innovative techniques for shaping, giving artistic finish, and embossing make packaging more desirable to the end users. The demand for biodegradable and eco-friendly products and the growth of the beverage and food market further stimulate the growth of glass packaging.
• It is one of the most trusted forms of packaging, as it is eco-friendly, healthy, and safe. It is also considered premium because of its elite designs or finish and its ability to maintain the product's freshness and safety. It is primarily used across a range of end-user industries.
• Glass packaging is also the most desirable eco-friendly packaging due to its recyclable nature. The most significant innovation in recent times is lightweight glass, which offers the same resistance as the previous glass type with higher stability and lower CO2 emissions.
• The market for glass materials is expected to be limited by rising consumer preferences for plastic as a packaging material. Manufacturers also favor plastic because of its lightweight and flexible characteristics. As a result, the increased use of plastic as a packaging material will impact the market's growth.
• The impact of COVID-19 on the glass packaging industry is mixed. The packaging demand for healthcare, groceries, and e-commerce transportation rose sharply during the pandemic. However, the demand for luxury, industrial, and B2B transportation declined. The impact depends on the exposure to different regions and the portfolio of packaging players.

APAC Glass Packaging Market Trends

The Beverage Segment is Expected to Account for Significant Market Share

• For alcoholic beverages, the glass packaging sector faces fierce competition from the metal packaging industry. However, glass packaging is expected to keep a sizable portion of the market during the projection period, increasing the use of expensive goods. The demand for various beverage items, including coffee, juices, tea, non-dairy beverages, and soups, is projected to rise.
• Among alcoholic beverages, the beer market has experienced a considerable expansion in recent years. Beer is generally sold in bottles, driving the glass packaging industry's production rates. The rising demand for alcoholic beverages also accelerates the production.
• Emerging nations like China, India, and Thailand have greater perceptions of beer quality. As a result, growing beverage consumption is likely to drive the growth of the glass packaging market in Asia-Pacific throughout the forecast period.
• As the world's population increases, consumption of these essential non-alcoholic beverages is anticipated to rise. The expanding availability of bottles in different sizes in the retail market, as well as innovation in design and chemical composition that results in reduced weight of glass bottles, are additional factors that are anticipated to significantly increase the demand for glass packaging of alcoholic beverages during the forecast period.
• Many producers of alcoholic beverages are emphasizing recycled materials in their packaging and increasing the amount of recycled glass used in their bottles. For example, Absolut pledged to reduce packaging waste by releasing a limited-edition design composed of 41% recycled glass.

China Accounts for the Largest Market Share

• Glass has become famous for drug storage containers in the past few decades. They are usually used to keep food and drinks. Compared to other containers, they have a few benefits, including strength, durability, and the capacity to maintain flavor, quality, and taste.
• Due to the expanding need for glass vials to provide COVID-19 vaccines, the accessibility of raw materials, and rising personal disposable income, China may continue to lead the glass packaging market in the Asia-Pacific region during the forecast period.
• A few other growth reasons in the region include increased personal discretionary income and the need for creative packaging solutions using cutting-edge manufacturing techniques.
• Another key aspect anticipated to boost market expansion is the expanding food and beverage industry. The government's growth initiatives to promote the usage of eco- friendly products may also boost the growth of the glass packaging market across the region.
• Due to its aging population, China has one of the largest pharmaceutical and healthcare markets in the world. However, foreign pharmaceutical businesses are finding it difficult to operate in the country due to recent regulatory changes in China, particularly when it comes to market access and price regulation. Thus, local players may have a chance to grow as a result of the possible rise in demand for glass bottles and containers from these businesses.

APAC Glass Packaging Market Competitor Analysis

The Asia-Pacific glass packaging market is moderately fragmented. Major firms like Amcor, AptarGroup, Bemis, Piramal Glass Company, MTS Medication Technologies, and Sonoco Products Company are making significant R&D expenditures to upscale the market and digitize the packaging business in the Asia-Pacific region.

• May 2022 - Gerresheimer announced an agreement with an ISR drug development company to produce sufficient quantities of IcoOne inhalers to secure a commercial supply chain and the global launch of an exciting dry powder SARS-CoV-2 vaccine.

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• The market estimate (ME) sheet in Excel format
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