Market Size of LA Glass Bottles and Containers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Glass Bottles & Containers Market Analysis
The glass bottles and containers in Latin America was estimated at USD 5215.1 million in 2020, and is expected to reach USD 6731.97 million by 2026, witnessing growth at a projected CAGR of 4.4% over the forecast period 2021 - 2026. Strong economic growth among the middle-class of the region is likely to make it more attractive for the pharmaceutical investments in future, which is likely to grow the market.
- Growing demand from beverage industry is driving the market. According to the Argentina's Secretary of Integral Policy on Drugs, the region consumes most alcohol per capita of any country. Similarly, in Brazil, consumption of alcohol between inhabitants is considerably high. Growing consumption of non-alcoholic beverages, such as milk and juices, are further expected to create a scope for glass bottles and containers market in the region.
- Recent innovation such as lightweight and effective recycling is driving the market. Newer production methods and recycle effect make it possible to manufacture more, particularly thin-walled and lightweight glass containers. The development of the Narrow Neck Press and Blow process has allowed for a significant reduction in the weight of glass bottles in Latin America.
- High competition from substitute products is restraining the market. Changes in consumer trend toward convenient and comfortable handling solutions are anticipated to drive the demand for flexible solutions. Incremental enhancements in plastic packaging solutions are posing a threat to the glass packaging market.
