GLASS PACKAGING MARKET ANALYSIS

Market Concentration and Competitive Landscape

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The busy lifestyles and growing disposable incomes of urban consumers have spurred the demand for convenient and on-the-go food and beverage consumption. For instance, Gross national disposable income is expected to expand 8.9% in FY24 and 14.5% in FY23. Ready-to-eat meals, snacks, and smaller glass packaging sizes are gaining immense traction. At the same time, health and wellness trends have also accelerated the sales of bottled water, juices, and other packaged beverages instead of soft drinks. Glass is an ideal format for showcasing the purity and protection of contents in these segments. The transparent glass material allows full product visibility to attract consumers. Manufacturers are innovating attractive designs, shapes and decors along with easy opening closures to make glass jars & bottles more portable and user-friendly. At the same time, premium alcoholic beverage producers still prefer glass containers imparting a premium image to the products and preventing light/oxygen permeability issues compared to plastics. With consumers increasingly valuing branding and aesthetics along with functionality, glass packaging presents a great canvas for brands engage with them effectively with minimal design changes. These evolving consumer needs are driving more brands to leverage glass packaging across food and beverage categories to enhance the shelf-appeal, attract new buyers and build loyalty.