Glass Packaging Market in Europe 2018-2022
About glass packaging
Glass packaging is used in packaging food and beverages, pharmaceutical products, and personal care products. Europe is the largest producer of container glasses across the segments, consisting of end-user categories and geography.
Technavio’s analysts forecast the Glass Packaging Market in Europe to grow at a CAGR of 2.35% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the glass packaging market in Europe. To calculate the market size, the report considers the revenue generated by the beverages industry, food industry, pharmaceutical industry, and other industries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Glass Packaging Market in Europe 2018-2022
Technavio recognizes the following companies as the key players in the glass packaging market in Europe: Ardagh, O-I, Verallia, Vetropack, and Vidrala
Commenting on the report, an analyst from Technavio’s team said: “The increasing use of premium packaging will drive the growth of the market. The luxury packaging industry is growing steadily and attracts glass container manufacturers, due to the high suitability and usage of glass in premium packaging. “
According to the report, the compatibility of glass as packaging material will be a key driver for the growth of the market. With respect to environmental sustainability, glass is gaining popularity as it is completely recyclable and can be recycled multiple times. Vendors are introducing more products using glass packaging owing to their numerous safety features.
Further, the report states that the decreasing ROI and EBITDA margins will affect the growth of this market. This industry witnesses energy-intensive process that increases the operational cost and adds upto 20% of the total production costs. Due to the slow growth of the industry, manufacturers must reduce their operating costs to increase their profit.
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