Increasing Demand for Returnable Glass Bottles Can be Attributed to their Eco-friendliness, Durability, and Ability to Preserve the Taste and Quality of Beverages | Future Market Insights Inc.
The Global Reusable Glass Bottles market size surpassed US$ 26.5 billion by 2024 and will expand at a CAGR of 1.90% between 2024 and 2034.The CAGR of the market in the United States for the forecast period is anticipated to be 2.4%. The trend toward sustainable packaging is influencing the returnable glass bottles demand in the United States.
NEWARK, Del, April 17, 2024 (GLOBE NEWSWIRE) -- The returnable glass bottle market is expected to be valued at *US$ 19.1 billion* in 2024. The market's progress is projected to invigorate slowly from 2024 to 2034, with a *CAGR of 3.00%,* compared to 1.90% in 2023. By 2034, the market value is forecasted to hit *US$ 26.5 billion*.Growing trend toward sustainability and environmental consciousness among consumers. Returnable glass bottles offer an eco-friendly alternative to single-use plastic bottles, which are known for their harm to the environment. By reassuring the use of returnable glass bottles, consumers can reduce their carbon footprint and contribute to a more sustainable future.
The desire for higher quality products is skyrocketing day by day. Glass bottles are known to preserve the taste and quality of beverages better than plastic bottles, which can leach chemicals into the beverage over time. This is particularly important for alcoholic beverages such as wine and beer, which require a certain level of quality and taste to be enjoyed to the fullest.
Returnable glass bottles are more cost-effective in the long run. While they may be more expensive to produce and transport initially, they can be used repeatedly, reducing the need for constant manufacturing and distribution of new bottles. This can result in significant cost savings for beverage companies, which can then be passed on to consumers in the form of lower prices.
Returnable glass bottles also offer a number of logistical advantages. They are more durable and less prone to damage during transport, reducing the likelihood of waste and breakage. They can also be easily sanitized and reused, which is particularly important in the current climate of heightened awareness around hygiene and cleanliness.
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*“Regulatory and legislative changes also impact the market positively. Many governments around the world are implementing measures to reduce plastic waste and encourage the use of more sustainable packaging materials. This has resulted in an increased demand for returnable glass bottles as a viable alternative to plastic.” *Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
*Key Takeaways from the Returnable Glass Bottle Market *
· The returnable glass bottle market is estimated to register a CAGR of 3.00%, reaching a valuation of US$ 26.5 billion by 2034.
· The type I segment is anticipated to dominate the market by holding a 51.2% market in 2024.
· The returnable glass bottle market in the United States is estimated to develop at a CAGR of 2.4% through 2034.
· The returnable glass bottle market in Germany is projected to increase at a 2.0% CAGR through 2034.
· The returnable glass bottle market in China is anticipated to develop at a CAGR of 5.9% through 2034.
· The returnable glass bottle market in Japan is projected to inflate at a CAGR of 2.6% through 2034.
*Competitive Landscape*
The market is highly diverse and dynamic, with a wide range of players operating in it, ranging from small regional companies to large multinational corporations. These companies are constantly investing in research and development to enhance the quality and durability of their glass bottles. The increasing awareness among consumers about environmental issues has led to a higher demand for eco-friendly packaging solutions, which has further intensified the competition in the market.
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*Recent Development*
In 2022, Vetropack, a glass packaging manufacturer, has taken a step towards reducing the environmental impact of packaging by introducing a new returnable glass bottle. The bottle is designed with a lightweight feature that makes it easier to transport and reduces carbon emissions during transportation. This move by Vetropack is not only beneficial for the environment but also makes it easier for consumers to return and reuse the bottles.
*Global Returnable Glass Bottle Industry Report Scope:*
*Attribute* Details
*Estimated Market Size (2024)* US$ 19.1 billion
*Projected Market Size (2034)* US$ 26.5 billion
*Anticipated Growth Rate (2024 to 2034)* 3.00 %
*Forecast Period* 2024 to 2034
*Historical Data Available for* 2019 to 2023
*Market Analysis* US$ million or billion for Value and Units for Volume
*Key Regions Covered* North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania
*Key Countries Covered* United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa
*Key Segments Covered* By Grade, By Manufacturing Process, By Capacity, By End Use
*Key Companies Profiled* · Del Monte Foods, Inc.
· Green Giant
· Native Forest
· Libby's
· Whole Foods Market
· Nature's Greatest Foods
· 365 by WFM
· Farmer’s Market Foods
· Good & Gather
· Reese
· Old El Paso
· Rotel
· Goya
· Rosarita
· Great Value
· Cento
· Other
*Report Coverage* Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
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*Key Segments*
*Grade:*
· Type I
· Type II
· Type III*Manufacturing Process:*
· Blown
· Tubing
*Capacity:*
· Less than 50 ml
· 50 - 200 ml
· 201 - 500 ml
· 501 - 1000 ml
· 1001 ml & Above*End Use:*
· Food
· Beverages
· Pharmaceuticals
· Personal Care & Cosmetics
· Chemicals
· Other Industrial
*By Region:*
· North America
· Europe
· Asia Pacific
· Middle East and Africa
· Latin America*About the Packaging Division at Future Market Insights.*
The packaging team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
*Authored by:*
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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