HORECA is termed as Hotel/Restaurant/Catering, which is a part of the food service segment that includes bars, pubs, beer cafes, clubs, and hotels, among others. According to the Brewers Association, the craft brewer volume sales increased by 7.9% in the US. Further, 18.4% of the total craft beer production volume in the US was produced by microbreweries, and 6.4% of craft beer volume was produced by brewpubs, whereas 8.1% of craft beer volume was produced by taprooms. Brewpubs and taprooms also offer bottled spirits to their consumers, thus increasing sales beer sales from these establishments also imply rising sales of bottled spirits. According to the report published by TouchBistro Inc in 2022, the sales volume of food & beverages by cafes and bar-style restaurants increased by 9% and 11%, respectively, in urban cities of the US—New York City, Los Angeles, and Dallas, in 2021. Moreover, the Federation of Hotel and Restaurant Associations of India revealed that the HORECA industry is expected to grow by 6% from 2022 to 2023 and registered for US$ 4.16 billion, compared to US$ 3.3 billion from 2018 to 2019. HORECA sector is a significant contributor to the sales of bottled spirits. Therefore, the growth of the HORECA sector is fueling the demand for spirit products, which is subsequently driving the North America spirit glass packaging market.
The North America spirit glass packaging market is segmented into the US, Canada, and Mexico. North America offers an extensive growth opportunity for the manufacturers of the spirit glass packaging market owing to the increasing demand for eco-packaging among spirit, wine, and beer manufacturers and consumers. As consumers are becoming increasingly aware of single-use plastics and their negative environmental impact, spirit glass packaging producers are eager to implement the latest technologies such as to fulfill their demand for spirit glass packaging. Sustainability has become an essential consideration within beer, wine, and spirits, impacting everything from production methods to ingredient sourcing. Hence, key market players are taking a more direct approach and incorporating new packaging solutions. For instance, in August 2022, O-I Glass, Inc. invested US$ 240 million in a new glass plant in Bowling Green, Kentucky. In line with strong consumer movements toward healthy, recyclable, and sustainable spirit packaging, the company offered brand-building premium glass containers with “Modular Advanced Glass Manufacturing Asset (MAGMA) technology to its customers.
North America Spirit Glass Packaging market Segmentation
The North America spirit glass packaging market is segmented on the capacity, color, application, and country. On the basis of capacity, the North 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 registered the largest market share in 2022.
Based on color, the North America spirit glass packaging market is further segmented into bare glass and colored glass. The colored glass segment registered a larger market share in 2022.
Based on application, the North America spirit glass packaging market is further segmented into whiskey, vodka, rum, wine, beer, and others. The beer segment registered the largest market share in 2022.
Based on country, the North America spirit glass packaging market is segmented into US, Canada, and Mexico. US dominated the market share in 2022.
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 are the leading companies operating in the North America spirit glass packaging market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 7,254.19 Million |
| Market Size by 2028 | US$ 9,503.15 Million |
| CAGR (2022 - 2028) | 4.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Capacity
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Spirit Glass Packaging Market is valued at US$ 7,254.19 Million in 2022, it is projected to reach US$ 9,503.15 Million by 2028.
As per our report North America Spirit Glass Packaging Market, the market size is valued at US$ 7,254.19 Million in 2022, projecting it to reach US$ 9,503.15 Million by 2028. This translates to a CAGR of approximately 4.6% during the forecast period.
The North America Spirit Glass Packaging Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Spirit Glass Packaging Market report:
The North America Spirit Glass Packaging Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Spirit Glass Packaging Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Spirit Glass Packaging Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+1 646 791 7070
sales@businessmarketinsights.com
Get Free Sample For North America Spirit Glass Packaging Market
