Latin America Glass Packaging Market Size to Grow at a CAGR of 4.80% in the Forecast Period of 2023-2028
The ‘Latin America Glass Packaging Market Size, Share, Analysis, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Latin America glass packaging market, assessing the market on the basis of its segments like glass type, product, application, and major countries.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Latin America Glass Packaging Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.80%
Glass is one of the most popular materials for packaging foods, drinks, medicines, and personal care items. It is an excellent packaging material because of qualities including excellent barrier characteristics, sterility, and reusability.
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The ability to be formed into a variety of forms and sizes, which facilitates its application across numerous industrial verticals, is one of the major advantages of glass packaging, thus aiding the Latin America glass packaging market. Manufacturers of various items are increasing the demand for glass packaging solutions due to shifting customer preferences, convenience of glass, and the flexibility it offers.
A key factor propelling the growth of the Latin America glass packaging market is the increasing customer desire for safe and healthy packaging. The market for glass packaging is also being influenced by the increase in demand for environmentally friendly products, the surge in demand from the food and beverage industries, and the preference for lightweight glass because it offers greater stability, uses fewer raw materials, and emits less CO2.
Additionally, the Latin America glass packaging market is benefiting from the recyclable nature of glass, the strong demand for beer, soft drinks, and cider, changing lifestyles, and an increase in consumer disposable income. Glass is also a preferred packaging for pharmaceuticals as medicines are less susceptible to oxidation and hydrolysis when packaged in glass. Glass packaging also aids in preventing the escape of volatile chemicals, improving medicine stability. These factors are all expected to increase the product demand in the near future.
Latin America Glass Packaging Industry Definition and Major Segments
Glass packaging is a sort of rigid packaging that is made of glass and aids in protecting contents by covering them with glass materials in a range of densities, sizes, and forms. Glass is considered a great material for product packaging since it reduces the possibility of contamination and protects the contents from harm. Glass packaging comes in many forms, including bottles and containers, which are readily available and can be manufactured in specific shapes and sizes.
Based on glass type, the market is segmented into:
• Borosilicate Glass
• De-Alkalized Soda Lime Glass
• Soda-Lime Glass
On the basis of product, the market is divided into:
• Bottles
• Jars
• Others
Based on application, the market is categorised into:
• Alcoholic Beverages
• Food and Beverages
• Household and Personal Care
• Pharmaceuticals
On the basis of country, the market is divided into:
• Brazil
• Mexico
• Peru
• Argentina
• Colombia
• Others
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Latin America Glass Packaging Market Trends
The development of innovative technologies for shaping, embossing, and applying artistic finishes to glass, are key trends in the market for glass packaging in Latin America. The rising acceptance of glass packaging among consumers as one of the most reliable forms of packaging for health, taste, and environmental safety, is further driving the growth of the Latin America glass packaging market. In the coming years, it is projected that the use of glass packaging for beverages will increase quickly.
Factors such as the increased availability of bottles in a variety of sizes in the retail market and advancements in design and chemical composition that result in lighter glass bottles would increase demand for glass packaging of beverages. Beer is typically sold in glass bottles, which calls for increased production rates in the glass packaging market.
One of the key trends for the Latin America glass packaging market is the popularity of glass bottles, which is also being fuelled by the increased demand for luxury alcoholic beverages. Usage of glass packaging for personal care products is also on the rise, fuelled by the increasing disposable incomes in nations like Brazil.
Key Market Players
The major players in the Latin America glass packaging market report are O-I Glass, Inc., Silgen Plastics, Crostar Tabletop S.A.S., Verallia, and PGP Glass, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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