ResearchAndMarkets.com’s products have added the “China Glass Container Packaging Market-Growth, Trends, Impact and Forecast of COVID-19 (2021-2026)” report.
In 2020, the scale of China’s container glass packaging market is 10.99 billion U.S. dollars and is expected to reach 14.97 billion U.S. dollars by 2026, with a compound annual growth rate of 4.71% during the forecast period (2021-2026).
The demand for glass bottles is expected to surge to supply the COVID-19 vaccine. Many companies have expanded the production of medicine bottles to meet any surge in demand for glass medicine bottles in the global pharmaceutical industry.
The distribution of COVID-19 vaccine requires packaging, which requires a sturdy vial to protect its contents and not chemically react with the vaccine solution. For decades, drugmakers have relied on vials made of borosilicate glass, although containers made of new materials have also entered the market.
In addition, glass has become one of the most important ingredients in the packaging industry. In the past few years, it has made considerable progress and has affected the growth of the glass container market. Glass containers are mainly used in the food and beverage industry. Compared with other types of containers, they have certain advantages because of their durability, strength, and ability to maintain the taste and flavor of food or beverages.
Glass packaging is 100% recyclable. From an environmental point of view, it is an ideal packaging choice. 6 tons of recycled glass can directly save 6 tons of resources and reduce carbon dioxide emissions by 1 ton. Recent innovations, such as lightweight and effective recycling, are driving the market. Newer production methods and recycling effects make it possible to develop more products, especially thin-walled, lightweight glass bottles and containers.
Alcoholic beverages are the main adopters of glass packaging because the glass does not react with the chemicals in the beverage. Therefore, it retains the aroma, strength and flavor of these beverages, making it a good packaging choice. For this reason, most beer volumes are transported in glass containers, and this trend is expected to continue during the study period. According to Nordeste Bank’s forecast, by 2023, China’s annual consumption of alcoholic beverages is expected to reach approximately 51.6 billion liters.
In addition, the other factor driving market growth is the increase in beer consumption. Beer is one of the alcoholic beverages packaged in glass containers. It is packed in a dark glass bottle to preserve the contents, which is prone to deterioration when exposed to ultraviolet light.
China’s glass container packaging market is highly competitive, and few companies have strong control in the market. These companies continue to innovate and establish strategic partnerships to retain their market share. Market participants also view investment as a favorable path for expansion.
Post time: Mar-26-2021