Saturday, 27 July 2024
According to our new research study on “Spirit Glass Packaging Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Capacity, Color of Glass, and Application,” the spirit glass packaging market size was valued at US$ 35,258.06 million in 2022 and is expected to reach US$ 47,357.29 million by 2028; it is estimated to register a CAGR of 5.0% from 2022 to 2028. The report highlights key factors driving the spirit glass packaging market growth and prominent players along with their developments in the market.
Spirit glass packaging is a popular choice for packaging alcoholic beverages, and it offers several advantages over other packaging materials. One of the main benefits of using glass for spirits packaging is that it helps preserve the product’s quality. Glass is a non-porous material that does not absorb or retain flavors or aromas, which means it won’t affect the taste or aroma of the spirit inside.
To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/sample/TIPRE00005316 Spirit glass packaging is extensively utilized in the spirits industry to contain spirit products such as wine, beer, rum, whiskey, and vodka, among others. The product innovation of different types of spirits, such as flavored liquors, and the development of bottled blended spirits are creating a demand for spirit glass packaging. The distinctly designed and varied colored glass packaging enhances the overall sensory experience. It changes the consumer’s buying decision. Glass packaging design and type positively influence brand image, product differentiation, and product acceptability & preference. The rising consumer preference for glass packaging has encouraged spirit manufacturers to offer product differentiation through packaging design and innovative products for spirits. This is due to the availability of glass bottles with thick bases, embossing, and decoration, coupled with label design; all these features provide harmonized high-quality brand image and convey the brand or product story. Thus, the rising utilization of spirit glass packaging in end-use industries drives the spirit glass packaging market.
The key players operating in the global spirit glass packaging market include O-I Glass Inc, Toyo Glass Co Ltd, Ardagh Group SA, Verallia SA, Vidrala SA, Gerresheimer AG, Nihon Yamamura Glass Co Ltd, Vitro SAB de CV, BA Glass BV, and HEINZ-GLAS GmbH & Co KGaA. Players operating in the global spirit glass packaging market focus on providing high-quality products to fulfill customer demand. They also focus on strategies such as investments in research and development activities and new product launches.
Beer, wine, whiskey, and vodka manufacturers are the major contributors to the demand for spirit glass packaging. In 2020, the alcoholic beverage industry had to slow down its operations due to disruptions in the value chain caused by the shutdown of national and international boundaries. The workforce shortage resulted in the deceleration of spirit glass packaging production and gaps in distribution operations. Disruptions in the global supply chain, surged demand for spirits (as customers stocked alcoholic beverages), and shutdown of glass packaging production facilities synergistically led to increased prices of spirit glass packaging. Government restrictions and other social precautions hindered the production capacities of stakeholders involved in the spirit glass packaging ecosystem. In addition, lockdowns imposed by different countries in 2020 hampered the ability of industries to maintain inventory levels of spirit packaging. Further, supply chain restrictions and lockdowns imposed in multiple countries reduced the production and packaging of spirits globally.
The global spirit glass packaging market is segmented on the basis of capacity, color, application, geography. Based on capacity, the global spirit glass packaging market is segmented into upto 200 ml, 200 ml to 750 ml, and above 750 ml. Based on color of glass, the spirit glass packaging market is bifurcated into bare glass and colored glass. Based on application, the spirit glass packaging market is segmented into whiskey, vodka, rum, wine, beer, and others. The global spirit glass packaging market is broadly segmented by geography into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America spirit glass packaging market is further segmented into the US, Canada, and Mexico. The Europe spirit glass packaging market is sub-segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific spirit glass packaging market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa market is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America spirit glass packaging market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
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