|By PR Newswire||
|January 15, 2014 10:00 AM EST||
IRVING, Tex., Jan. 15, 2013 /PRNewswire-iReach/ -- The global glass packaging industry growth is likely to recover and reach an estimated $45.9 billion by 2018. Glass used for the packaging of beverages is expected to retain major market share in future. Increasing usage of glass as a packaging material in perfume bottles and the use of glass bottles for storage of medicines due to its sterility and reusability will drive the glass packaging industry. Glass packaging is influenced by such economic factors as rising disposable income, per capita income, urbanization, and population.
Lucintel, a leading global management consulting and market research firm, has conducted a detailed analysis on the various applications of glass packaging and presents its findings in "Global Glass Packaging Industry 2013-2018: Trends, Forecast, and Opportunity Analysis." The report indicates that the industry faces challenges due to availability of substitutes such as paper, plastic, steel, and metal for packaging. Secondly, volatility in feedstock prices, energy inputs, and transportation are expected to be major challenges for the industry.
The market report also highlights the key drivers. Increase in sales of soft drinks in glass bottles and increase in the consumption of packaged consumer goods such as beverages drive glass packaging. Glass has an almost zero rate of chemical reaction as there are no interactions between glass packaging and products to affect the flavor of food and beverages.
Glass container manufacturers have been responsive to the numerous demands of consumers resulting in innovative designs, lighter weight packages, and establishment of various brands. Consumers have placed greater emphasis on greener packaging and healthier products which would have positive impact on glass packaging market.
Glass is the material of choice for packaging, glass packaging is environment friendly as glass is infinitely recyclable. Launch of new varieties of consumer goods such as soft drinks, alcoholic drinks, and spirits increased the volume sales of packaged goods.
This report covers the in depth analysis of glass packaging industry covering each region and stating the emerging region of the industry which will reflect growth in the forecast period. This report will help in knowing the upcoming opportunities and threats that are likely to be faced by the industry players.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at [email protected]. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, market insight, and cost efficiency. To learn more, visit www.lucintel.com.
Media Contact: Roy Almaguer, Lucintel, +1-972-636-5056, [email protected]
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