Market Trends of Belgium Container Glass Industry
This section covers the major market trends shaping the Belgium Container Glass Market according to our research experts:
Growing Export of Beverages and Food to Drive the Studied Market Growth
- Belgium's food and beverage industry is known for producing high-quality products. Despite the effects of Brexit, Belgian food and drinks are doing better than ever in the United Kingdom and outperforming products from neighboring countries.
- According to Fevia, the Belgian food and drink federation, Belgian food and drink exports to the United Kingdom have increased significantly in recent years. In addition, Belgium ranks among the premier countries that account for 10% of exports of food and beverages representing Euro 2.89 billion in 2022, with the strongest contribution from alcoholic and non-alcoholic drinks to the United Kingdom.
- Moreover, according to the National Bank of Belgium, in 2021, Belgian food and beverage exports generated approximately 30 billion euros, whereas the value of imports of the food and beverage industry in Belgium was just over 25 billion euros in the same year.
- The growing demand for food in the country has encouraged food manufacturers to invest. For instance, according to Federal Public Service Economy Belgium, the total investments in the food industry in Belgium increased from Euro 1.72 billion in 2020 to Euro 1.87 billion in 2021. Such an increase in investment and growth of export to EU countries is expected to propel the demand for container glass in the market.
- The food companies have undergone partnerships and acquisitions for expansion and new product development in the market. For instance, in August 2022, Cooke Seafood group, one of the world's largest salmon farming companies, acquired the leading shrimp and prawn processor Morubel N.V. based in Belgium, which supplies organic and frozen seafood to retail and food service customers in major European countries.
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Pharmaceutical Industry Expected to Fuel Demand During Forecast Period
- Belgium is among the key parts of the pharmaceutical industry in the European Union, owing to the presence of many active pharmaceutical companies. Moreover, the local business environment repositioned itself as a global hub for pharma exports through its top-notch infrastructure. The pharmaceutical accounts total 10% of the country's export.
- According to pharma.be, in 2021, the pharmaceutical sector invested over EUR 14 million per day in research and development (EUR 5.2 billion in total for the entire year). This represents an increase of 35% over just two years. The number of active researchers in the sector also went up significantly: by no less than 24.4% over the past four years.
- In July 2021, Ardena, a specialist pharmaceutical Contract Development and Manufacturing Organisation (CDMO), in partnership with GHO Capital, announced an investment of Euro 35 million for expansion across its European operations. With this investment, the company is willing to expand drug product services in Belgium and aseptic fill and finish capabilities for developing and clinically producing small molecule, injectable formulations.
- Such rising export of pharmaceutical products in the international market and growing investment in pharmaceutical research & development activities are expected to bolster the demand for container glass for different parenteral products or powders for parenteral use.
