Market Size of Portugal Container Glass Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.20 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Portugal Container Glass Market Analysis
- The Portugal container glass market is projected to grow at a CAGR of 3.2% in the estimated timeframe (2022- 2027). Due to the growing demand for sustainable packaging and the ban on single-use plastic, players are shifting to more sustainable, eco-friendly, and reusable solutions such as glass. This is one of the major factors driving the growth of container glass in Portugal.
- The growing demand for sustainable packaging in the country has propelled the use of container glass by numerous end users. Also, many, owing to the bolstering impact of plastic on the environment, are looking into other sustainable solutions for packaging.
- Additionally, increasing use of containers glass and bottle glass in the pharmaceutical industry are widely used for medicinal drug packaging. Pharmaceutical glass containers are manufactured to meet tight tolerance limits because they are filled in high-speed lines. Glass containers are considered a viable option as their impacts on the environment and humans are much less than polyethylene terephthalate (PET); it is the most environment-friendly packaging alternative.
- The Increasing alcohol consumption is anticipated to boost the sales of the glass container market. Tinted Amber glass containers are preferred in alcoholic beverages because they offer protection against UV radiation. Also, the demand for clear glass containers is expected to rise at a higher rate in the coming years. For instance, according to Organization for Economic Cooperation and Development (OECD), Portuguese citizens consume an average of 12 liters of pure alcohol annually, which is one of the highest records in the countries, as per the analysis carried out in 52 countries.
- However, the growing use of substitute products such as metal and reusable plastic is expected to hinder the growth of the glass container market. For instance, in April 2021, Gatão Portuguese wine brand started selling its Vinho Branco cans using Ardagh's wine can. The can is designed to protect the taste of wine while offering convenience, portability, and sustainability.
- COVID-19 impacted numerous industries, but the glass container market was negatively affected and witnessed enhanced demand from the food, beverage, and pharmaceutical sectors during the period.
