Need a report that reflects how COVID-19 has impacted this market and its growth?
The Asia Pacific Plastic Packaging Market is expected to grow at a CAGR of 5.16 % over the forecast period (2021 - 2026). The impact of Covid-19 on the glass packaging industry is mixed. The demand for some products has reached heights during this pandemic. The packaging demand for healthcare, groceries, e-commerce transportation has risen sharply. But the demand for luxury, industrial, and B2B transportation has declined. The impact depends on the exposure to different regions and the portfolio of the packaging players.
- The demand for healthier and safer packaging is helping the glass packaging industry to grow in variable categories. Innovative techniques for shaping, giving artistic finish, embossing is making them more desirable to the end-users. Moreover, the demand for biodegradable and eco-friendly products and the rise of the beverage and food market stimulate the industry growth of glass packaging.
- It is one of the most trusted forms of packaging for the environment's taste, health, and safety. It is also considered premium because of its elite designs or finish, characteristics to maintain the product's freshness and safety. It is primarily used worldwide across the range of most end-user industries.
- This is also termed the most desirable environmentally friendly packaging type because of its recyclable nature. The most significant innovation in recent times is the lightweight glass, and it offers the same resistance as the previous glass type with higher stability and lower emission of CO2.
- Moreover, emerging markets like India and China are experiencing high demand for soft drinks, beer, and ciders due to increased per capita income and per capita spending. It is due to changing behavior and lifestyle of the customers. However, the increase in operational costs also gives rise to different substitute products like tins and plastics.
- Further, seeking the demand in the region, many glass packaging companies are investing in their expansion plans in India. For instance, Piramal Glass has recently announced to build three more premium perfume manufacturing lines by investing over EUR 15 million. With this expansion, the company has planned to add 50 million annual production capacity to its current level.
- Such expansion plans are expected to continue in the coming years and are estimated to fuel the demand for glass bottles and containers over the forecast period. Moreover, the high growth rate of exports over imports of the glass industry in the country represents an increase in demand for glass bottles and containers.
Scope of the report
The Glass packaging technology is evolving rapidly, focusing on the designs, ranging from sturdy and lightweight to rigid and tough, customizable to meet customer- or product-specific needs. From electronics to food, beverage, and cosmetics, every product has packaging applications. Corrugated container boxes are used to ship and transport electronics, fragile glassware, and perishable goods across the region. Majorly glass packaging is used for food, medicine, toiletries, oil, beverages, raw materials, chemicals for handy storage and display, thus providing a sustainable and eco-friendly option to customers to carry their purchases home. Based upon the type of material being transferred, glasses can be of different grades and different material combinations like premium glass, lightweight glass, float glass tinted glass, etc. Further, the study includes the impact of COVID-19 in the market.
|By Product Type|
|Bottles and Jars|
|Caps and Closures|
|Trays and Containers|
|By End-user Industry|
|Other End-user Industries|
|Rest of Asia Pacific|
Key Market Trends
Beverage is Expected to Account For Significant Market Share
- The glass packaging industry is experiencing intense competition from the metal packaging industry in the alcoholic beverage industry in cans. It is likely to maintain its large share during the forecasted period, increasing premium product usage. The growth is expected to grow across different beverage products like coffee, juices, tea, non-dairy beverage, soups, etc.
- Among the alcoholic beverages, tremendous growth has been witnessed in the beer segment in the past few years. The beers are primarily sold in bottles which are driving the production rates of the glass packaging industry. The increasing demand for alcoholic drinks also accelerates the rates. Emerging nations like China, India, Thailand are showing higher quality perception of beer.
- Returnable glass bottles are also an effective way for companies to deliver the products. It will be very cost-effective as well as environmentally friendly. This is mainly used for the non-alcoholic beverage industry. More than 70% of mineral water bottles use plastic as their packaging material. Slowly due to environmental concerns, the water bottle-packaging segment is likely to convert their packaging material to glass.
- Furthermore, the logistics aspect of the liquor packaged in glass bottles is challenging the growth. As glass is comparatively more cumbersome and prone to breakage during transport, increasing the chances of goods loss; however, vendors are trying to innovate the packaging aspect of glass bottles. For instance, Nakpack provides systems specific to wine glass bottle packaging safety, allowing a single model of packaging to be used with various bottle types and formats.
- More and more liquor manufacturers are becoming conscious of recycled materials in their packaging and increasing the percentage of recycled glass used in their bottles. For instance, Absolut has vowed to minimize the packaging waste by launching a limited-edition design made from 41% of recycled glass.
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China Accounts For the Largest Market Share
- Glass is one of the prominent containers that has been considerable over the last few decades to store medicines. They are also primarily used to store the beverage and food industry. They offer quite a few advantages over other containers like strength, durability, ability to preserve the flavor, quality, and taste.
- The glass packaging is 100% recyclable, making it a desirable packaging option from a health and environmental point of view. A recent innovation of effective recycling and lightweight is driving the market. Newer recycling and production methods are helping the glass industry to develop more. Lightweight and thin-walled glass containers are trending in the market.
- Both alcoholic and alcoholic drinks are pretty prominent adaptors of glass packaging as glass does not react with any chemical present in the drink. It preserves the flavor, strength, aroma of the product. According to the reports of Banco do Nordeste, the annual consumption of beverages in China is likely to amount to 51.6 billion liters.
- Additionally, alcohol consumption in China is significantly increasing over the years. As per Brazil-based bank Banco do Nordeste, consumption of alcoholic beverages in China will reach 54.12 billion liters by 2021. Also, many alcoholic beverage companies seek to expand in the country to seize the opportunity.
- Further, the pharmaceutical and healthcare sector in China is one of the largest markets in the world, mainly driven by its aging population. Due to the recent regulatory changes in the country, foreign pharmaceutical companies are facing difficulties in conducting business, especially when it comes to market entry and price control. Hence, there is a potential growth opportunity for the domestic players as they might experience an increase in demand for glass bottles and containers from these companies.
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The Asia-Pacific Glass Packaging Market is moderately fragmented due to the presence of players, like Amcor, AptarGroup, Bemis, Piramal Glass Company, MTS Medication Technologies, Sonoco Products Company, up-scaling the market with substantial R&D investments, driving towards the sustainability and digitization of the packaging industry in Asia-Pacific.
- June 2021 - Amcor launches an enhanced heat seal coating healthcare glass packaging solution. Amcor introduced heat seal coating for medical-grade packaging applications. This technology delivers enhanced performance features for healthcare applications. This will be produced in multiple locations worldwide to offer customers increased flexibility to be supplied from the most suitable locations.
- January 2020 - Gerresheimer announced that it is further expanding production output in Asia. The company has over 35 sites in Europe, the Americas, and Asia, making specialty packaging from glass and plastic. In December 2019, the company opened two more plants in China and India.
- March 2021- Piramal Glass Company prioritizes the technology of unlocking hidden margins and efficiency through digital automation. They partnered with the enterprise blockchain platform. The first phase of this project had four main objectives: to validate the production use of blockchain in Piramal Glass’ supply chain and export operations; to increase transparency while protecting sensitive data and customer integrity; to understand if the technology could enable multiple stakeholders to collaborate on initiatives, such as sustainability; and to establish if blockchain delivers business value in terms of efficiency improvement and ease of use.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Technology Snapshot
4.5 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Demand for Longer-lasting Packaging Products
5.1.2 Rising Demand for Sustainable and Innovative Food Packaging Products
5.2 Market Restraints
5.2.1 Stringent Environmental Regulations
6. MARKET SEGMENTATION
6.1 By Product Type
6.1.1 Bottles and Jars
6.1.2 Caps and Closures
6.1.3 Trays and Containers
6.2 By End-user Industry
6.2.3 Personal Care
6.2.5 Household Care
6.2.7 Other End-user Industries
6.3 By Country
6.3.4 Rest of Asia Pacific
7. COMPETITIVE LANDSCAPE
7.1 Company Profile
7.1.1 Amcor Ltd.
7.1.2 Bemis Company Inc.
7.1.3 Sonoco Products Company
7.1.4 Piramal Glass Company
7.1.5 MTS Medication Technologies (Omnicell Inc.)
7.1.6 Tetra Laval
7.1.7 RPC Group
7.1.8 Gerresheimer AG
7.1.9 Saver Glass
7.1.10 Hindustan National Glass & Industries Ltd
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Asia Pacific Glass Packaging Market Glass Packaging Market market is studied from 2019 - 2026.
What is the growth rate of Asia Pacific Glass Packaging Market Glass Packaging Market?
The Asia Pacific Glass Packaging Market Glass Packaging Market is growing at a CAGR of 5.16% over the next 5 years.
Who are the key players in Asia Pacific Glass Packaging Market Glass Packaging Market?
Amcor Ltd, Bemis Company , Inc., Sonoco Products Company, Piramal Glass Company, MTS Medication Technologies (Omnicell Inc.) are the major companies operating in Asia Pacific Glass Packaging Market Glass Packaging Market.