Report : Europe Spirit Glass Packaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Capacity (Upto 200 ml, 200 ml to 750 ml, and above 750 ml), Color of Glass (Bare Glass, Colored Glass), and Application (Whiskey, Vodka, Rum, Wine, Beer, and Others)
At 5.6% CAGR, the Europe Spirit Glass Packaging Market is speculated to be worth US$ 14,763.73 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe spirit glass packaging market was valued at US$ 10,676.67 million in 2022 and is expected to reach US$ 14,763.73 million by 2028, registering an annual growth rate of 5.6% from 2022 to 2028. Adoption of recycled glass packaging and surge in consumer preference for glass packaging are the critical factors attributed to the Europe spirit glass packaging market expansion.
Governments and organizations are focused on establishing policies and legislation to promote and support the circular economy and recycling of materials. Several spirit manufacturers are adopting recycled glass packaging in response to the global focus on sustainable development and circular economies. For instance, in 2022, Denomination designed a sustainable glass bottle for Wise Wolf wine. The developed glass bottle featured 95.1% recycled content and 100% post-consumer recycled glass cullet. Moreover, in 2022, Laithwaites launched Frappato wine in 100% recycled glass bottles. The wild glass bottle was developed by Estal. Thus, the adoption of recycled packaging by spirit manufacturers is expected to be a trend in the Europe spirit glass packaging market.
On the contrary, increasing awareness regarding adverse effects of spirit consumption hurdles the growth of Europe spirit glass packaging market.
On the capacity, the Europe spirit glass packaging market is segmented into upto 200 ml, 200 ml to 750 ml, above 750 ml. The 200 ml to 750 ml segment held 61.7% market share in 2022, amassing US$ 6,591.62 million. It is projected to garner US$ 9,285.91 million by 2028 to expand at 5.9% CAGR during 2022–2028.
Based on color, the Europe spirit glass packaging market is further segmented into bare glass and colored glass. The colored glass segment held 55.9% market share in 2022, amassing US$ 5,969.97 million. It is projected to garner US$ 8,409.69 million by 2028 to expand at 5.9% CAGR during 2022–2028.
Based on application, the Europe spirit glass packaging market is further segmented into whiskey, vodka, rum, wine, beer, and others. The beer segment held 54.4% market share in 2022, amassing US$ 5,810.64 million. It is projected to garner US$ 8,270.74 million by 2028 to expand at 6.1% CAGR during 2022–2028.
Based on country, the Europe spirit glass packaging market is segmented into Germany, France, UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the rest of Europe captured 32.4% market share in 2022. It was assessed at US$ 3,459.09 million in 2022 and is likely to hit US$ 4,733.34 million by 2028, exhibiting a CAGR of 5.4% during the forecast period.
Key players dominating the Europe spirit glass packaging market are Ardagh Group SA, BA Glass BV, Gerresheimer AG, HEINZ-GLAS GmbH & Co KGaA, O-I Glass Inc, Toyo Glass Co Ltd, Verallia SA, Vidrala SA, and Vitro SAB de CV among others.
- In 2019, O-I Glass Inc completed corporate modernization, adopts new holding company structure.
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