At 5.1% CAGR, the Asia-Pacific Spirit Glass Packaging Market is projected to be worth US$ 18,079.41 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Asia-Pacific spirit glass packaging market was valued at US$ 13,403.73 million in 2022 and is expected to reach US$ 18,079.41 million by 2028, registering an annual growth rate of 5.1% from 2022 to 2028.  Rising demand for innovative and custom glass packaging and adoption of recycled glass packaging are the critical factors attributed to the Asia-Pacific spirit glass packaging market expansion.

Spirit manufacturers across region are focused on investing significantly in innovative packaging solutions to attract a wider consumer base. The innovation in packaging includes distinct design, vibrant colors, detailed labeling, and sustainable packaging. Luxury consumers and whiskey collectors demand distillery upgrades, refurbishments, and novel designs while considering whiskey collection as a form of investment. According to a report published by Scotch Whisky Association in 2023, consumers are attracted to premiumization and high-quality spirits such as scotch whiskey, which is boosting exports of spirits from Scotland. Moreover, changing consumer behavior has prompted spirit manufacturers to increase the customization of bottles, provide innovative glass packaging, and focus on the brand story. Moreover, the consumer preference and demand for recycled glass packaging for spirits is rising due to increased awareness regarding environmental concerns and sustainability. Thus, the rising demand for innovative and custom glass packaging is expected to create lucrative opportunities for the Asia-Pacific spirit glass packaging market during the forecast period.

On the contrary, increasing awareness regarding adverse effects of spirit consumption hurdles the growth of Asia-Pacific spirit glass packaging market.    

On the capacity, the Asia-Pacific 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 50.2% market share in 2022, amassing US$ 6,730.63 million. It is projected to garner US$ 9,294.85 million by 2028 to expand at 5.5% CAGR during 2022–2028.  

Based on color, the Asia-Pacific spirit glass packaging market is further segmented into bare glass and colored glass. The colored glass segment held 50.6% market share in 2022, amassing US$ 6,782.83 million. It is projected to garner US$ 9,251.43 million by 2028 to expand at 5.3% CAGR during 2022–2028.  

Based on application, the Asia-Pacific spirit glass packaging market is further segmented into whiskey, vodka, rum, wine, beer, and others. The beer segment held 35.2% market share in 2022, amassing US$ 4,723.25 million. It is projected to garner US$ 6,377.50 million by 2028 to expand at 5.1% CAGR during 2022–2028.  

Based on country, the Asia-Pacific spirit glass packaging market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia-Pacific. Our regional analysis states that China captured 64.6% market share in 2022. It was assessed at US$ 8,652.70 million in 2022 and is likely to hit US$ 11,922.66 million by 2028, exhibiting a CAGR of 5.5% during the forecast period.    

Key players dominating the Asia-Pacific spirit glass packaging market are Ardagh Group SA, Gerresheimer AG, HEINZ-GLAS GmbH & Co KGaA, Nihon Yamamura Glass Co Ltd, O-I Glass Inc, Toyo Glass Co Ltd, Verallia 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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