Market Size of Latin America Glass Packaging 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 | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Latin America Glass Packaging Market Analysis
Latin America's glass packaging market is expected to grow at a CAGR of 4.4% during the forecast period. Due to COVID-19. Some of the effects of lockdown include supply chain disruptions, lack of availability of raw materials used in the manufacturing process, labor shortages, fluctuating prices that could cause the production of the final product to inflate and go beyond budget, shipping problems etc.
- Urbanization, changing consumer preferences, and growth in demand for beverages and alcoholic drinks have led to increased demand for glass packaging solutions by manufacturers of these products. The market is expected to continue to witness moderate growth over the forecast period.
- Glass is one of the most preferred materials for packaging food, beverages, pharmaceuticals, and personal care products. Properties like excellent barrier properties, sterility, and reusability make it a superior packaging material. The other significant advantage of glass packaging is that it can be molded into various shapes and sizes, facilitating its use across different industry verticals.
- Even though glass remains the preferred packaging material for various products, the growing usage of plastics as a replacement for glass will hamper the market growth. Advancements in plastics for safe usage in different applications will restrict glass as a material for packaging.
- Latin America's glass packaging market is segmented based on product and end-user industry. Based on the product, the market is segmented into bottles, jars, vials, and others. The market is segmented into pharmaceuticals, medical, household care, personal care, agricultural, and others based on the end-user industry.
