In 2013, Asia Pacific dominated the overall glass packaging market and accounted for over 33.0% of the market, by volume, according to a Marketsandmarkets report.
The region is expected to witness the fastest growth in coming years due to increasing glass packaging consumption in alcoholic beverages and pharmaceutical applications, according to Glass Packaging Market – Global Trends & Forecast to 2019.
The glass packaging market in Asia Pacific is primarily dominated by China and India owing to the vast consumer base in these countries.
These developing nations dominate the glass packaging market in the region on account of rising urban population levels and increasing demand of beverages.
Globally, China is the largest consumer and also the largest market for glass packaging products growing at a compound annual growth rate (CAGR) higher than the global average till 2019.
Alcoholic beverage application takes the topmost position in the glass packaging market with around 58.3% share by value in 2013 while the fastest growth till 2019 in the glass packaging market is expected to come from applications such as pharmaceutical beverage packaging.
Pharmaceutical packaging application is expected to have the highest growth.
It is estimated to grow at a CAGR of 4.2% in terms of value from 2014 to 2019.
The increasing health awareness among the consumers and improving lifestyle of the consumers will increase the need for more sophisticated packaging that will drive the market for pharmaceutical packaging.