North America Glass Packaging Market Size Expanding Steadily at CAGR of 4.1% to Cross USD 4.4 Billion by 2029
North America glass packaging market is flourishing due to the rapid adoption of developments in new glass formulations that offer greater strength and durability.
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Report Ocean, a leading strategic consulting and market research firm, in its recent study, estimated North America glass packaging market size at USD 3.39 billion in 2022. During the forecast period between 2023 and 2029, Report Ocean expects North America glass packaging market size to grow at a steady CAGR of 4.12% reaching a value of USD 4.44 billion by 2029. A major growth driver of the North America glass packaging market is increasing customer preference for safer and healthier packaging. Glass is also made more appealing to end users by innovative technologies for embossing, molding, and adding aesthetic treatments. The market expansion is also fueled by growing consumer demand for products that are ecologically friendly and growing demand from the food and beverages industry.
North America Glass Packaging Market – Overview
Glass packaging is a kind of rigid packaging that covers and safeguards contents using various densities, sizes, and shapes of glass packaging items. Containers and bottles are just two of the many types of glass packaging products that are available on the market. These substances have no impact on the texture, composition, or flavor of the substance currently present in the jar. This type of packaging is extensively used for alcoholic and non-alcoholic beverages, food, medicine, personal care, cosmetics, and other products.
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Impact of COVID-19 on North America Glass Packaging Market
The COVID-19 pandemic had a significant positive impact on the North America glass packaging market during the first of 2020. The lockdowns and restrictions imposed to curb the spread of the novel coronavirus led to a surge in demand for glass packaging, especially for products, such as hand sanitizers, disinfectants, and pharmaceuticals. As people spent more time at home during lockdowns, there was an increase in the consumption of packaged foods and beverages, leading to a rise in demand for glass bottles and jars. However, the pandemic also disrupted supply chains, resulting in delays in raw material deliveries and production shutdowns. This, coupled with the increased demand, led to supply shortages and price hikes for glass packaging in the North American market. Despite the challenges faced by the industry, the glass packaging market in North America is expected to recover and continue to grow in the coming years.
North America Glass Packaging Market – By Packaging Type
North America glass packaging market is segmented into rigid packaging, flexible packaging, and others. The rigid packaging segment dominates the plastic packaging market due to its high visual appeal and durability. Also, the high barrier to oxygen, moisture, and light of rigid packaging contributes to the segment’s highest market share. The reusability of rigid packaging products, such as intermediate bulk containers, pallets, and other industrial packaging products, is likely to favor the expansion of rigid plastic products.
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Competitive Landscape
North America glass packaging market is highly competitive. Major players in the market include Ardagh Group, O-I Glass, Inc., Vitro Packaging, LLC, Gerresheimer Glass, Inc., Anchor Glass Container Corporation, Nampak Glass North America, Piramal Glass USA Inc., Stolzle Glass USA, Berlin Packaging, Verallia North America, Glasswerks Inc., and Rocky Mountain Bottle Company. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the North America glass packaging market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of North America Glass Packaging Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in North America Glass Packaging Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
What is the goal of the report?
- The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
- During the forecast period, the report analyzes the growth rate, market size, and market valuation.
- The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
- The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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