Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger futureResearch Report on Brazil and Argentina Glass Packaging Market Size and Forecast, By Application (Food, Alcoholic Beverages - Beer, Spirits, Wine, Non-Alcoholic Beverages) and Trend Analysis, 2014 – 2024
13 February 2019, The Brazil and Argentina Glass Packaging Market size is expected to reach USD 3.1 billion by 2024. Glass has several advantages over other forms of packaging. It has been granted the status of generally regarded as safe (GRAS) by the U.S. Food and Drug Administration (FDA). Furthermore, lucrative demand for alcoholic beverages such as beer, spirits, and wines is expected to drive the market.
Increasing disposable income of working population, improving lifestyles, and rising consumer spending on lifestyle products and activities are expected to drive product demand. Low labor cost and higher profit margins for manufacturers are some of the key factors attracting global conglomerates to invest in the Central and South America (CSA) region.
Growing production in the food and beverage sector is expected to increase product demand over the forecast period. For instance, Brazil is one of the largest exporters of juices, coffee, alcohol, and sugar and that makes it a potential market for glass containers. Similarly, glass is considered an effective material for food packing in Argentina as it provides protection against external chemical, biological, and physical influences.
Diversity of color, shape, printing, and finishing options are some of the factors fueling product demand in the wine industry. Moreover, a wide variety of price ranges, from basic to ultra-premium wines, is fostering growth of the wine industry in Brazil and Argentina.
Various global players are actively operating in the Brazil and Argentina market. Lucrative demand from microbreweries and growing requirements for processed foods and personal care products among consumers owing to change in lifestyle is expected to fuel demand for glass packaging.
Growing popularity of beer among the population in Brazil has been another key growth factor. Beer consumption in Brazil was around 13.27 billion liters in 2016 and it is expected to grow efficiently over the forecast period. Increasing population in the Legal Drinking Age (LDA) segment is expected to drive demand for glass containers over the forecast period.
Availability of different substitutes such as plastic, carton, and metal is a key challenge faced by players in the market. After plastic, metal cans account for the maximum share in the market owing to ability of keeping beverages chilled for longer duration than glass bottles.
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Furthermore, instability in energy consumption, changing feedstock prices, and high transportation costs are expected to hamper the market in Latin America. However, demand for liquor in glass bottles is growing in Brazil and Argentina owing to their longer shelf life, rich and enhanced taste, and recyclability. They remain the primary packaging material for wine and beer in Brazil and Argentina.
On the down side, high cost of transportation and safety and handling measures associated with the product is estimated to restrain market growth. For instance, glass packaging neither affects flavor of food nor other properties. However, it is susceptible when sharp changes are brought in temperature. Though it has a strong shape and support, brittleness is one of the traits that needs to be considered by manufacturers. A heavy impact can fracture it and lead to massive loss of material as well as content. Furthermore, glass is comparatively heavier than plastic, paper, or cans. Greater the weight of the material, more is the shipping cost.
Growing need for flexible packaging solutions owing to rise in demand for packed food products and beverages and innovative packing materials is also anticipated to restrict the market during the forecast period. Plastic packaging is the most versatile type owing to its highest recycling index and ability to be drawn into a wire as well as into a sheet. This favorable characteristic of plastic packaging is anticipated to hamper the market for glass packaging. Nevertheless, the inert nature and 100% recyclability of glass will help retain its demand over the forecast period.
Key players are concentrating on increasing their production capacities by investing in new furnaces. Furthermore, they are updating existing equipment in order to cater to rapidly growing demand from the food and liquor industry in the region. For instance, in March 2018, Wheaton successfully acquired the production plant of Verescence’s Brazil facility to expand its production capacity. Besides, the company is expected to start a new furnace at the facility.
Key players operating in the Brazil and Argentina glass packaging market include Owens-Illinois, Inc.; Ardagh Group; Cattorini Hnos. S.A.; Verallia S.A.; Crown; Wheaton Brasil; Verescence – formerly called SGD Perfumery; and Vidraria Anchieta Ltda.
Hexa Research has segmented the Brazil and Argentina glass packaging market report based on application:-
Segmentation by Application
• Food
• Alcoholic Beverages
• Beer
• Spirits
• Wine
• Non-Alcoholic Beverages
Key Players Analyzed:
• Ardagh Group
• Cattorini Hnos. S.A.
• Owens-Illinois Inc.
• Ball Corporation
• Crown
• Verallia
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