According to a recent analysis report by ResearchAndMarkets, the bottle glass market is projected to reach a size of US $82.2 billion by 2028, with a compound annual growth rate (CAGR) of 3.7% from 2021 to 2028. The market growth is driven by the increasing global demand for fast-moving consumer goods and alcoholic beverages. Glass jars and bottles are widely used for packaging FMCG products, such as sauces, spices, and processed foods.
The rising hygiene and living standards in urban areas worldwide have also contributed to the growing consumption of bottle glass for storing food and beverages. Glass is preferred for its hygienic properties and recyclability, aligning with the increasing environmental concerns over plastic containers.
The outbreak of the COVID-19 pandemic in 2020 had a temporary negative impact on the market due to travel restrictions and raw material shortages. However, there was a significant increase in the demand for vials and ampoules in the pharmaceutical sector during this period, driving their projected growth at a CAGR of 8.4% throughout the forecast period. Additionally, the food and beverage industry’s use of glass vials and ampoules for catalysts, enzymes, and food essences is expected to further drive their demand.
In terms of regional growth, the Middle East and Africa are expected to experience a CAGR of 3.0% during the forecast period. The UAE has the highest consumption of bottled water globally, and the beer consumption in Africa is also growing steadily, providing additional opportunities for the bottle glass market in the region.