UAE Container Glass Market Size

UAE Container Glass Market Analysis

The United Arab Emirates (UAE) container glass market is expected to register a CAGR of 2.31% over the forecast period (2022 - 2027). The UAE population's expenditure on various commodities is expanding along with their high and rising disposable incomes. The United Arab Emirates had a GDP per capita of approximately USD 42,883.69 in 2021, according to the International Monetary Fund (IMF). The value is estimated to be in the range of USD 54,393.06 in 2027. The number of exports in the United Arab Emirates is also growing, which is expected to impact the market growth positively.

• Additionally, the COVID-19 pandemic increased demand for glass packaging from the food, beverage, and pharmaceutical industries, as well as for medication bottles, food jars, and beverage bottles. According to AGI Glaspac, the packaging of food and beverages accounted for about 90% of all glass containers.
• Pharmaceuticals are imported into the United Arab Emirates from 72 different nations. According to trading economics, approximately 80% of the total supply comes from the United Kingdom, Switzerland, Germany, Belgium, the United States, France, Spain, Italy, and Australia.
• There is a market opportunity for container glass producers because most significant research-based pharmaceutical companies have had a long-standing presence in the nation through contract manufacturing or local distribution channels.
• Prominent global corporations with a presence in the local market include Bayer, Abbvie, Eli Lilly, Pfizer, Novartis, GlaxoSmithKline (GSK), Merck, Abbvie, Sanofi, BMS, and Amgen.
• Consumers in the nation utilize glass to carry food and beverages for hygienic reasons and to preserve the environment from plastic bottles. Additionally, consumers in the country choose to drink juices, flavored drinks, and other liquids from glass bottles. Compared to other materials, people can use glass containers for various purposes. However, due to the region's adherence to Islamic Sharia Law, which forbids the use or drinking of alcohol for religious purposes, the supply of alcoholic beverages is extremely restricted, if not nonexistent.
• The Covid-19 pandemic opened possibilities for the study market's expansion because of the huge demand for vaccines resulting from their manufacturing being increased globally. For instance, the Chinese pharmaceutical company Sinopharm started manufacturing the COVID-19 vaccine in March 2021 at a new facility in Abu Dhabi. The activity was a component of a joint venture between Sinopharm and the technology company Group 42 in Abu Dhabi.