South America Spirit Glass Packaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Capacity, Color of Glass, and Application

The South America spirit glass packaging market was valued at US$ 3,042.19 million in 2022 and is expected to reach US$ 3,904.65 million by 2028. It is estimated to register a CAGR of 4.2% from 2022 to 2028.

Rising Demand for Innovative and Custom Glass Packaging in South America Spirit Glass Packaging Market

Spirit manufacturers across region are focused on investing significantly in innovative packaging solutions to attract a wider consumer base. The innovation in packaging includes distinct design, vibrant colors, detailed labeling, and sustainable packaging. Luxury consumers and whiskey collectors demand distillery upgrades, refurbishments, and novel designs while considering whiskey collection as a form of investment. According to a report published by Scotch Whisky Association in 2023, consumers are attracted to premiumization and high-quality spirits such as scotch whiskey, which is boosting exports of spirits from Scotland. Moreover, changing consumer behavior has prompted spirit manufacturers to increase the customization of bottles, provide innovative glass packaging, and focus on the brand story. Moreover, the consumer preference and demand for recycled glass packaging for spirits is rising due to increased awareness regarding environmental concerns and sustainability. Thus, the rising demand for innovative and custom glass packaging is expected to create lucrative opportunities for the South America spirit glass packaging market during the forecast period.

South America Spirit Glass Packaging Market Overview

The South America spirit glass packaging market is segmented into Brazil, Argentina, and the Rest of South America. A few key market players in South America majorly focus on business expansion by establishing production facilities to gain an edge in the highly competitive market. For instance, in May 2022, Ardagh Group SA announced the investment in a new first glass production facility in Brazil. This facility has claimed to deliver sustainable glass packaging to leading clients operating in the spirit glass packaging market in Brazil and provide approximately 300 high-quality jobs. However, the healthy lifestyle trend is impacting the demand for alcoholic drinks. Overall, the production of alcoholic drinks is stagnating, and some categories are in the decline stage as health-conscious consumers are limiting the amount of alcohol they consume. According to the International Wines and Spirits Record (IWSR), the sale of beer significantly dropped in 2018; in Brazil, it fell by 2.3%. Further, in 2019, 26.4% of the adult population reported drinking once or more a week, compared to 23.9% in 2013. These factors are hampering the consumption of alcoholic beverages, simultaneously hindering the growth of the South America spirit glass packaging market.

South America Spirit Glass Packaging market Revenue and Forecast to 2028 (US$ Million)

South America Spirit Glass Packaging market Segmentation

The South America spirit glass packaging market is segmented on the capacity, color, application, and country. On the basis of capacity, the South America spirit glass packaging market is segmented into upto 200 ml, 200 ml to 750 ml, above 750 ml. The 200 ml to 750 ml segment registered the largest market share in 2022.

Based on color, the South America spirit glass packaging market is further segmented into bare glass and colored glass. The colored glass segment registered a larger market share in 2022.

Based on application, the South America spirit glass packaging market is further segmented into whiskey, vodka, rum, wine, beer, and others. The beer segment registered the largest market share in 2022.

Based on country, the South America spirit glass packaging market is segmented into Brazil, Argentina, and the Rest of South America. Brazil dominated the market share in 2022.

Ardagh Group SA, Gerresheimer AG, HEINZ-GLAS GmbH & Co KGaA, O-I Glass Inc, Toyo Glass Co Ltd, Verallia SA, and Vitro SAB de CV are the leading companies operating in the South America spirit glass packaging market.

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