The glass packaging market is estimated to witness substantial growth by 2027 driven by the increasing demand in varied products. Moreover, growing focus on the use of sustainable materials in glass packaging products is slated to bolster market demand through the forecast timeline.

Recently, industry players and other key organizations have been undertaking measures aimed at making production processes more eco-friendly in order to mitigate the carbon footprint of the sector, which has considerably enhanced industry outlook. For instance, in June 2021, the European Container Glass Federation (FEVE), an association of Europe-based manufacturers of machine-made glass tableware and glass containers, submitted the application for its Furnace for the Future (F4F) project.

The project would help the glass packaging sector switch to renewable power and curb CO2 emissions by nearly 60% in the furnace or by about 50% in the entire factory. In March 2021, the project was chosen as one of the top 70 projects submitted for the EU Innovation Fund, which is one of the largest programs providing funds for the demonstration of innovative and low-carbon technologies.

Furthermore, companies are implementing strategic initiatives to boost their market standing, which has positively impacted the global business landscape. To cite an instance, in June 2021, Berlin Packaging, a US-based supplier of hybrid packaging, announced the acquisition of Elias Valavanis, a glass packaging supplier for food & beverage applications operating out of Larissa, Greece.

Elias Valavanis supplies jars and bottles for wine, oil, soft drinks, water, and spirits. This acquisition, which was the fifth one for Berlin Packaging in Europe this year, marked the company’s entrance into the Balkans region.

For detailed assessment, the glass packaging market has been bifurcated in terms of product, application, and region. From the application perspective, the market has been segmented into beer, alcoholic beverages, pharmaceuticals, food & beverages, and others.

The beer sub-segment is estimated to hold over 25% share in the glass packaging market by the end of forecast period, expanding at a considerable pace over 2021-2027. The glass packaging market valuation from the others sub-segment is calculated to exceed USD 4 billion by 2027. Other applications of glass packaging include cosmetics, toiletries, and personal care products.

On the basis of region, the North America glass packaging market is projected to witness notable growth by 2027, delivering a steady CAGR over the assessment period. The positive outlook of the pharmaceutical sector in the region is likely to propel product demand in North America.

Latin America is calculated to garner a notable share in the overall market revenue by 2027, expanding at a CAGR of approximately 4% through the forecast period. Middle East & Africa is anticipated to account for more than 7% of the glass packaging market by the end of 2027.