ASIA – The global glass packaging market for food and beverages is expected to exceed US$56 billion by 2019, growing at a CAGR of over 2%.
According to technology research and advisory company Technavio, increased demand from Asia Pacific, a rise in beer consumption, and technological advances will fuel the global packaging market for food and beverages.
“The global glass packaging market for food and beverages is expected to grow at a slow pace during the forecast period.” says Sharan Raj, lead research analyst at Technavio for the packaging industry.
“However, a rise in the consumption of beer worldwide and growing demand from APAC are factors which are expected to boost the volume sales of glass packaging products during the forecast period.”
Glass packaging market growth in Asia
The Asia Pacific region has been enjoying an increase in the volume sales of glass packaging materials for food and beverage products. This is particularly so in Southeast Asia, where rapid urbanization and an increase in the number of organized retail sectors are boosting the sales of packaged food and beverages.
Asia Pacific is expected to witness the highest… For the full story, subscribe to Packaging Business Insight Asia here.