LATIN AMERICA GLASS PACKAGING MARKET IS ESTIMATED TO REACH USD XX BILLION BY 2032: SPER MARKET RESEARCH
Glass is a stunning substrate with an exquisite appearance of refinement and quality that fulfills its function as a major package. Glass packaging includes all colored and transparent glass jars and bottles used to store consumer goods. Glass is a very advantageous material to use for packaging. Its quality won’t decline with endless recycling. It is resistant to the transfer of gases and particles because it is chemically inert, nonporous, and impermeable. Even when microwaved, there are no interactions between glass container and products that could change the flavor of food or drinks.
According to SPER Market Research, ‘Latin America Glass Packaging Market Size- By Glass Type, By Product, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ states that the Latin America Glass Packaging Market is estimated to reach USD XX billion by 2032 with a CAGR of 5.05%.
Metal packaging, specifically cans, is a fierce competitor in the alcoholic beverage industry’s glass packaging sector. However, because it uses high-end items, it is anticipated to hold onto its market share. Beer has been the most popular alcoholic beverage in the last several years. The bulk of beer volume is offered for sale in glass bottles. The expansion of glass bottles is being driven by the growing demand for premium versions of alcoholic drinks. One of the most popular personal care product lines in the glass packaging market for makeup. Products for hair care, skincare, and perfumes are included in this category. In the cosmetics market, there is a growing demand for cosmetics packaged in glass.
Compared to other alternative materials, such as plastic, the manufacture of glass can be costly. For some companies, this may make it a less alluring choice, particularly for customers on a tight budget. Glass packaging has several advantages, including enhanced barrier qualities and environmental benefits, that consumers and organizations might not fully understand. Glass can break during handling and transportation since it is clearly more brittle than some other materials. Manufacturers and merchants may find this to be concerning. One of the main competitors is plastic packaging, which is frequently lighter and less expensive. Supply Chain Glassmakers may deal with issues such as plant fires and increased energy bills.
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Impact of COVID-19 on Latin America Glass Packaging Market
The Covid-19 pandemic generated supply chain interruptions that made it challenging to procure raw ingredients and move completed goods. Production delays and shortages resulted from this. Much like with raw supplies, sickness and lockdown-related workforce shortages may have limited output. Price swings for glass containers and raw materials were brought on by disruptions, which can have an effect on producers’ profitability. A brief increase in demand for packaged food and beverages was caused by stockpiling and an increase in household consumption as a result of lockdowns, which may have encouraged the usage of glass containers. The epidemic increased people’s awareness of safety and hygiene, which could be advantageous for glass packaging because of its reputation for cleanliness.
Latin America Glass Packaging Market Key Players:
The glass packaging market in Latin America is dominated by Brazil and Mexico.
Some of the Key players are O-I Glass, Inc., Silgen Plastics, Crostar Tabletop S.A.S., PGP Glass, Others.
Latin America Glass Packaging Market Segmentation:
By Glass Type: Based on the Glass Type, Latin America Glass Packaging Market is segmented as; Borosilicate Glass, De-Alkalized Soda Lime Glass, Soda-Lime Glass.
By Product: Based on the Product, Latin America Glass Packaging Market is segmented as; Bottles, Jars, Others.
By Application: Based on the Application, Latin America Glass Packaging Market is segmented as; Alcoholic Beverages, Food and Beverages, Household and Personal Care, Pharmaceuticals.
By Region: This report also provides the data for key regional segments of Brazil, Mexico, Peru, Argentina, Colombia, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Latin America Glass Packaging Market Future Outlook
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