Rising Beer Consumption to Propel Glass Packaging Market to US$55.24 Billion by 2020: Transparency Market Research
By Business Wire News
By Business Wire News
According to a market study recently published by Transparency Market Research, the global market for glass packaging stood at US$40.32 billion in 2013. Analysts project the market to rise moderately at a CAGR of 4.60% during the period from 2014 to 2020 and reach a market value of US$55.24 billion by the end of the forecast period.
Browse Research Report:http://www.transparencymarketresearch.com/glass-packaging.html
The report, titled “Glass Packaging Market for Food & Beverages, Pharmaceuticals, Beer and Other Alcoholic Beverages – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”, further states that the demand for glass packaging amounted to 54,246.8 kilo tons across the globe in 2013.
According to the report, the rising consumption of beer around the world has strengthened the demand for glass bottles from the food and beverages industry, resulting in exceptional growth of the global glass packaging market. Additionally, the increasing usage of glass in the pharmaceutical industry for packaging is expected to stimulate the glass packaging market during the forecast period.
On the other hand, the augmenting popularity of plastic as a packaging item is anticipated to hamper the market’s growth in the near future, cites the report.
The global glass packaging market is analyzed on the basis of application and regional distribution. The market for alcoholic beverages excluding beer held more than 40% of the global market based on application, acquiring the leading position in 2013. The market segment is anticipated to retain its leadership and post the fastest growth during the forecast period.
Browse Press Release:http://www.transparencymarketresearch.com/pressrelease/glass-packaging.htm
Asia Pacific emerged as the leading regional market for glass packaging and occupied over 35% of the overall market in 2013. It is projected to remain the dominant regional market during the forecast period, notes the study.
Plastic Packaging Market:http://www.transparencymarketresearch.com/plastic-packaging.html
Transparency Market Research (TMR) is a U.S.-based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.