Market Trends of Denmark Container Glass Industry
This section covers the major market trends shaping the Denmark Container Glass Market according to our research experts:
Growing Consumption of Food and Beverages Expected to Drive Demand
- Denmark is among the key countries in advanced food processing sectors with the presence of major food and beverage companies such as Arla Foods, Danish, and Carlsberg. In addition, Denmark boasts global leaders such as Novozymes (in enzymes), Christian Hansen (in food ingredients), and Royal Greenland (in fish and seafood production and processing). The rigorous quality assurance, regulatory standards, and growing investment in research and development are the growth factor of the food industry.
- The investments in the food sector for product development in the country are expected to help the growth of the market studied as the government of Denmark has supported the food industry initiatives in the country. For instance, in April 2022, the government announced that it will invest USD 100 million into a new Plant Fund to promote climate-friendly plant-based foods. Further, the investment is expected to provide support for business and product development, as well as for sales, and exports which will boost the demand for container glass.
- The consumption of wine in the country has increased over the past years. According to Statistics Netherlands, the annual turnover of organic wine, cider, and spirits in retail shops in Denmark increased by 20% in 2020 compared to 2019 and by 1% in 2021. This indicates the demand for alcoholic beverages supports the growth of container glasses.
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Pharmaceutical Industry to Gain Significant Share in Forecast Period
- Denmark is among the key European countries, with many active pharmaceutical companies in drug development. Moreover, the country is offering attractive business solutions for foreign biotech companies in the industry.
- The growing need for increased manufacturing and production capability and new research opportunities attracted international investments and partnerships in the pharmaceutical industry. For instance, in December 2021, Novo Nordisk unveiled its plans to invest more than USD 2.5 billion to build three new manufacturing facilities and expand the existing facility at its Kalundborg production site in Denmark. The investment is expected to expand Novo Nordisk's production capacity from active pharmaceutical ingredients (API) to assembly and packaging. The company said that expanding the Kalundborg site would facilitate the production of current and future oral and injectable products.
- Such investment by industry key players in the country for capacity expansion in oral and injectable products indicates the growing demand in the market. Thus, it is projected to add significant opportunities for container glass manufacturers in the country for their products in the coming years.
