At 4.2% CAGR, the South America Spirit Glass Packaging Market is projected to be worth US$ 3,904.65 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the South America spirit glass packaging market was valued at US$ 3,042.19 million in 2022 and is expected to reach US$ 3,904.65 million by 2028, registering an annual growth rate of 4.2% from 2022 to 2028.  Surge in consumer preference for glass packaging and rising demand for innovative and custom glass packaging are the critical factors attributed to the South America spirit glass packaging market expansion.                

The consumption of spirits is continuously growing across the region due to rising disposable income, growing favorable demographics, and changing consumer behavior. High demand for distinct cocktails has created a trend for premium liquor contained in distinct glass packaging. The product innovation of different types of spirits such as flavored liquors and development of bottled blended spirits are creating a demand for spirit glass packaging. Glass packaging design and type positively influences brand image, product differentiation, and product acceptability & preference. Moreover, the rising consumer preference for glass packaging has influenced 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, a surge in consumer preference for glass packaging is driving the South America spirit glass packaging market.

On the contrary, increasing awareness regarding adverse effects of spirit consumption hurdles the growth of South America spirit glass packaging market.    

On the capacity, the South America 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 63.7% market share in 2022, amassing US$ 1,938.51 million. It is projected to garner US$ 2,531.07 million by 2028 to expand at 4.5% CAGR during 2022–2028.  

Based on color, the South America spirit glass packaging market is further segmented into bare glass and colored glass. The colored glass segment held 68.4% market share in 2022, amassing US$ 2,079.40 million. It is projected to garner US$ 2,692.40 million by 2028 to expand at 4.4% CAGR during 2022–2028.  

Based on application, the South America spirit glass packaging market is further segmented into whiskey, vodka, rum, wine, beer, and others. The beer segment held 64.1% market share in 2022, amassing US$ 1,949.92 million. It is projected to garner US$ 2,561.97 million by 2028 to expand at 4.7% CAGR during 2022–2028.  

Based on country, the South America spirit glass packaging market is segmented into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 64.1% market share in 2022. It was assessed at US$ 1,949.19 million in 2022 and is likely to hit US$ 2,529.57 million by 2028, exhibiting a CAGR of 4.4% during the forecast period.    

Key players dominating the South America spirit glass packaging market are Ardagh Group SA, Gerresheimer AG, HEINZ-GLAS GmbH & Co KGaA, , 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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