Dublin, Jan. 03, 2025 (GLOBE NEWSWIRE) -- The "North America Glass Packaging Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
In an analysis of the North American glass packaging industry, findings suggest a robust growth trend with predictions of reaching a market size of US$19.657 billion by 2029 from US$16.971 billion in 2024, expanding at a CAGR of 2.98%. This growth is attributed to the surge in the healthcare sector and the advancement of a circular economy.
Role of Glass in Sustainable Development
Glass packaging is being recognized for its vital role in promoting sustainability. Being 100% reusable and infinitely recyclable without quality degradation, glass is a cornerstone in building a circular economy. The endorsement of 2022 as the International Year of Glass by the United Nations further emphasizes its importance in achieving global sustainable development goals.
Influence of Consumer Preferences and Regulatory Measures
There has been a notable shift towards glass packaging across diverse industry verticals, driven by consumer demand for safer packaging options and regulatory measures seeking to limit certain non-recyclable materials. Beverage packaging, particularly for alcoholic spirits, represents a significant segment. Despite a decline in beer consumption, there is an increasing demand for glass-packaged beverages, highlighting the sector's resilience.
United States to Lead Market Share
The United States is projected to hold a considerable market share within the forecast period. High consumer awareness, preference for sophisticated packaging technologies, and strong pharmaceutical industry presence are major market drivers in the region.
Market Outlook
Strategic business decisions are bolstered by detailed market insights that cover emerging trends, competitive landscapes, and regional dynamics. Such informed decision-making supports businesses in identifying growth opportunities and navigating the complexities of market penetration and development.
Market Segmentation
The North American Glass Packaging market is thoroughly segmented to provide clarity on industry specifics. The market is segmented by application and geography, covering soft drinks, fruit drinks, pharmaceuticals, personal care, alcoholic drinks, and more, with a geographical focus on the United States, Canada, and Mexico.
Strategic Implications for Stakeholders
The anticipated market growth presents numerous opportunities for stakeholders across the supply chain of the glass packaging industry to strategize more effectively in response to consumer demands and global sustainability mandates. The potential for industry-wide advancement positions the North American glass packaging market as a key player in ecological and economic development for the coming years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 114 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $16.97 billion |
| Forecasted Market Value (USD) by 2029 | $19.66 billion |
| Compound Annual Growth Rate | 2.9% |
| Regions Covered | North America |
Some of the key companies profiled in this North America Glass Packaging Market report include:
- Gerresheimer AG
- Kaufman Container
- Ardagh Group
- Owens-Illinois, Inc.
- Amcor Plc.
- AptarGroup, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5wk6vk
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