5.4.1 Growing online sell and e-commerce channels will escalate the spirit glass packaging market at a CAGR of 7.6%
Latest market study on “Spirit Glass Packaging Market to 2027 – Global Analysis and Forecasts by Range of Glass (Standard, premium, and Super Premium); and Color of Glass (Bare Glass and Colored Glass)”, The Global Spirit Glass Packaging market is accounted to US$ 7,540.3 Mn in 2018 and is expected to grow at a CAGR of 7.6% during the forecast period 2019 – 2027, to account to US$ 14,388.8 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 color of glass segment, the bare spirit glass packaging segment is the leading segment. The bare glass bottle is a white crystal bottle used for the packaging of spirit and other alcoholic beverages. It is used for the packaging of spirit due to its characteristics, such as excellent visibility and durability. One of the most important benefits of bare glass is its clarity. Bare glass is used as a packaging option for the spirit as it allows the visibility of the product inside the packaging to the customers. It is also the most popular packaging mediums for other alcoholic beverages such as beer, flavored alcoholic beverages, and wine. Furthermore, premium spirit brands prefer bare glass for packing their products, which is anticipated to boost the demand for bare glass over the forecast period.
During the past few years, online buying and growth in several e-commerce portals are increasing at a fast pace. These enable the consumers to buy anything being in their comfort zone, and spirits aren’t an exception for that. E-commerce channels that sell spirits and hold the tremendous potential of strong growth from a small base. Along with the growth in e-commerce channels, manufacturers are also expected to take efforts to build relationships with consumers through social media engagement. Many of the times, manufacturers observed lack of brand loyalty amongst consumers. The companies are now aware of the importance of packaging to increase their sales, enhance shelf presence, and to boost their marketing performance. Thus, they are making attempts to invest more in package design and in-store advertising. Also, they are also inventing for novel packaging design techniques in order to promote brand image. These initiatives from the manufacturers are expected to provide growth opportunities to industry players in the global 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, Owens-Illinois, Inc., Stölzle Glass Group, Saverglass Group, Vetropack Holding Ltd, Vidrala, and Vetreria Etrusca S.p.A.
The report segments the global spirit glass packaging market as follows:
Global Spirit Glass Packaging Market – By Range of Glass
Global Spirit Glass Packaging Market – By Color of Glass
Global Spirit Glass Packaging Market – By Geography
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