Wide acceptance of glass material in spirit packaging will escalate the spirit glass packaging market at a CAGR of 9.7%
Latest market study on "Europe Spirit Glass Packaging Market to 2027 – Analysis and Forecasts by Range of Glass (Standard, premium, and Super Premium); and Color of Glass (Bare Glass and Colored Glass)", The Europe Spirit Glass Packaging market is accounted to US$ 2,394.1 Mn in 2018 and is expected to grow at a CAGR of 9.7% during the forecast period 2019 – 2027, to account to US$ 5,481.4 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Under range of glass segment, the standard spirit glass packaging segment is the leading segment. Standard glass is the most widely used glass for the packaging of alcoholic products due to the easy availability of the products and lower prices. Standard glass has a zero rate of chemical interactions which ensure that the spirit products inside the glass bottle keep their strength, aroma, and flavor. Protection from U.V. light is obtained by adding colorants or U.V. additives, during the production of standard spirit glass. It is preferred by most of the spirit glass manufacturers as it is hundred percent recycled. Standard sizes, design, and shapes are available in the market for applications such as spirit, wine, and beer. Furthermore, the manufacturing cost of these types of bottles is also low as compared to other products, which further provides a market penetration opportunity for the market players.
Sustainable packaging growth and premiumization of packs are the trends that are leading towards the packaging development. Glass materials remains the material of choice in spirit packaging owing to the properties such as superior quality, purity, and perseverance. Spirit packaging also plays a vital role in the growth in the consumption of liquor. Thus, manufacturers of this packaging are focusing more on packages that enhance consumer experience and taking into account the change in consumer habits. The manufacturers of packaging are constantly working towards reducing the weight of the bottles in order to make it easy to handle, transport, and improve the consumer experience without impacting consumer-brand experience. Along with this, the development of organic inks for the decoration on bottles is also making it more sustainable. Thus, the above-mentioned factors are expected to deliver substantial growth opportunities to the industry players in the Europe spirit glass packaging market.
The market for spirit glass packaging is concentrated with some very well-established players. Some of the key players in the spirit glass packaging market include Allied Glass Containers Ltd, Ardagh Group, Bruni Glass S.P.A, Gerresheimer AG, Glassworks International Ltd., Owens-Illinois, Inc., Pont Packaging, Stölzle Glass Group, Vetropack Holding Ltd, and Vidrala among others.
The report segments the Europe spirit glass packaging market as follows:
Europe Spirit Glass Packaging Market – By Range of Glass
Contact Person: Sameer Joshi
Email Id: email@example.com