Market Size of Spain Container Glass Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Spain Container Glass Market Analysis
The Spain Container glass market is projected to grow at a CAGR of 3.4% during the forecast period (2022- 2027). The increasing demand for container glass in packed food & beverage items has supported the need for soda-lime-silica-based glass for storing an extensive range of food ingredients. The market is anticipated to increase as a result of rising beverage consumption and the rising pharmaceutical industry's need for vials and ampoules. Furthermore, the market is expanding at an even faster rate thanks to the rising demand for luxury packaging in the food processing sector.
- Growing consumer demand for eco-friendly, safe, and healthier packaging has helped glass container packaging flourish among many end-users. Also, innovative technologies for shaping, embossing, and adding artistic finishes to glass have made glass container packaging more popular among end-users. Additionally, the rising demand for eco-friendly products in the food and beverage market is boosting the market's growth.
- Premium food and alcoholic and non-alcoholic beverage brands prefer glass (container glass) over other packaging options, such as plastic, as glass is chemically inert, non-porous, and impermeable, eventually surging demand from the food and beverage market. For instance, according to oiv. int, wine consumption volume in Spain has increased in 2021 and has reached 10.5 MHL (+9.9% / 2020).
- Additionally, container glass is an optimum choice for alcoholic beverages to retain their aroma and taste. The wine manufacturing companies are using tinted container glass for wine packaging. The increasing consumption of wine globally has supported the growth of the Spain container glass market. For instance, according to oiv.int, Spain is the largest exporter of wine in 2021 with 23.0 MHL, accounting for 21% of the global wine exports.
- COVID-19 impacted Spanish wine sales significantly in a year forecast to be a great year in terms of harvest. The government offered subsidies to growers as the industry showed a decline in demand, and the surplus crops had to be destroyed. The revival of the wine demand in Spain is expected in the forecast period, which is further anticipated to boost the market's growth.
