The India glass packaging market size is projected to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for glass products in various industries.
Glass is the most trusted and proven packaging for health and food solutions and the environment. Glass packaging maintains the freshness and safety of the product. It ensures recyclability for various end-user products. Glass packaging includes all packaging patterns made from glass such as bottles, containers, and jars. It benefits the packaging for pharmaceuticals, cosmetics, food products, and alcoholic beverages, which further prevents the contamination of products while improving shelf life.
The outbreak of COVID-19 halted the glass packaging production for few months in 2020, affecting other industries, hampering the market growth. However, relaxation on restrictions eased the movement activities of raw materials and glass packaging product to the end-users. According to the CARE Ratings, India alcohol market is estimated to boom by 2021, boosting the glass packaging segment.
Market Trends, Drivers, Restraints, and Opportunities
- Implementing government ban on plastics packaging can boost the growth of the glass packaging in the country.
- Increasing consumption of beverages products can propel the market growth
- Rising growth of the pharmaceutical industry and awareness about the benefits of using glass bottles for can foster the growth of the market.
- Rising operational costs of glass packaging can hinder the market growth.
- Growing usage of substitute products, such as lower density polyethylene and tin metal packaging, can hamper the growth of the market.
- Compactness & mobility and the consumption pattern from glass packaging changed the modern day lifestyle, providing lucrative opportunities for the glass packaging players.
Key Players
- Schott Kaisha Pvt Ltd (SCHOTT AG)
- ADI glaspac (HSIL Ltd)
- Piramal Glass Limited
- Borosil Glass Works Limited (Klasspack Pvt. Ltd.)
- Haldyn Glass Limited (HGL)
Competitive Landscape
Key players competing in the India glass packaging market are Schott Kaisha Pvt Ltd (SCHOTT AG); AGI glaspac (HSIL Ltd); Piramal Glass Limited; Borosil Glass Works Limited (Klasspack Pvt. Ltd.); and Haldyn Glass Limited (HGL).
In March 2021, AGI glaspac, a prominent manufacturer of integrated container glass, partnered with HORN Glass Industries AG, a Germany-based company, to build a furnace of 154 TPD (tonnes per day) at AGI Speciality Glass Division’s Bhongir plant in Telangana.
In December 2020, Blackstone Group Inc., major US-based private equity, completed a deal to acquire Piramal Enterprises Ltd.'s (PEL) glass unit for USD 1 billion.
In November 2020, Schott Kaisha Pvt Ltd (SCHOTT AG), pharma-packaging firm, invested USD 14.2 million in its existing facilities to increase vial production by 30 million pieces.
In May 2020, Piramal Glass Limited transformed its operational procedures with the use of digital technologies in the glass manufacturing industry.
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