Due to rising alcoholic and non-alcoholic beverage consumption in all markets over the next one to two years, the global glass container market is predicted to increase at a CAGR of 4-5 per cent between 2022 and 2026 and reach around 800 billion units. Beer, alcoholic beverages, and food are three major market areas where demand will rise. It is anticipated that increased demand from the non-alcoholic market and the pharmaceutical industry will boost the value of the entire glass containers segment. Especially glass bottle price, there will be a significant increase.
Western suppliers invest primarily in plant equipment upgrades to increase energy savings and lower carbon emissions. Over the next two years, emerging markets will see an increase in investments in installing and renovating new furnaces. To satisfy the demand from the market, all manufacturing facilities are operating at total capacity. Cost increases for the product are evident due to rising energy and raw material costs, this has also caused an increase in the glass bottle price.
With demand recovery across all end-use categories, especially the beverage segment, which includes beer, wine, and spirits, demand for glass containers has increased dramatically. Glass bottle price have significantly increased due to rising demand from the food and beverage industries. Logistics problems, energy prices, and capacity limitations influence prices.
