Glass Manufacturing Market Segmentation:
Product Segment Analysis
Container glass segment is projected to hold more than 45% glass manufacturing market share by 2035. The segment's lucrative growth rate can be propelled by the increasing demand for packaging applications anticipated by the slated demand for eco-friendly and sustainable packaging, as renewable, recyclable, biodegradable packaging attracts more businesses and consumers to reduce their environmental footprints. Research Nester analysis observed that in 2023, more than 64% of consumers in the UK would purchase a product if it had sustainable packaging.
Consumers are also willing to pay more in this sector owing to the environmentally friendly process and packaging of these products. Moreover, glass containers are infinitely reusable and about 100% sustainable, recyclable, and refillable, which acts as a growing factor for this sector as plastics release toxins into the food while heating that can cause fertility issues and metabolic disorders.
Sector Segment Analysis
The packaging segment is estimated to grow at a notable CAGR in the coming years due to the increasing food & beverage industry, as glass material plays a vital role in storing processed foods, fruits & vegetables, syrups, dairy products, instant coffee, condiments, and many more. Moreover, glass material is also used in food and beverages to prevent bacterial growth. According to a report by the National Institutes of Health in 2023, the food manufacturing landscape contributes about 2.1% of the GDP in developing countries.
Additionally, glass materials are also used in several other industries including, cosmetics, pharmaceuticals, dairy, and many others.
Our in-depth analysis of the glass manufacturing market includes the following segments:
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