North America Amber Glass Packaging Market Size Expanding to Touch USD 3.6 Billion by 2029
North America amber glass packaging market is gaining traction because of the increasing consumer consciousness along with government supportive measures to promote the use of sustainable packaging.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the North America amber glass packaging market size at USD 2.71 billion in 2022. During the forecast period between 2023 and 2029, North America amber glass packaging market size is projected to grow at a steady CAGR of 4.1% reaching a value of USD 3.56 billion by 2029. Amber glass packaging has seen substantial growth in North America amber glass packaging market, because of the increasing consumer consciousness along with government measures to promote the use of sustainable packaging. Advantages of amber glass, such as UV protection, are also playing a significant role in its acceptance in a variety of industries, including alcohol and pharmaceutical industries, driving the expansion of the North American amber glass packaging market. However, the high prevalence of plastic as a packaging material could limit the market growth.
North America Amber Glass Packaging Market – Overview
Amber glass bottles are a plastic-free substitute for plastic cleaning bottles. It is created by melting iron, sulfur, and carbon together, which is then added to the molten mixture. Amber glass garners its well–desired dark hue from these ingredients. It is its hue that let it shield the contents from light.
The broadest range of light wavelengths is absorbed by the amber glass. Amber glass is the UV light protection material of choice for many pharmaceutical items as well as is widely used in various other industries including alcohol, food, and beverages industries. UV rays can cause photooxidation, which can lead to faster spoilage of the products. Beyond being esthetically pleasing, the color helps keep the goods secure and unaltered.
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North America Amber Glass Packaging Market – By Application
Based on application, North America amber glass packaging market is segmented into pharmaceuticals, dietary supplements, food & beverages, personal care & cosmetics, and others. The pharmaceuticals segment held the highest market share in 2022. The high concentration of leading global biopharmaceutical companies in the US, such as Johnson and Johnson, Pfizer, Merck & Co., and Eli Lilly and Company, is boosting the demand for amber glass for packaging their medicines to protect them from UV protection as well as for making another packaging such as glass injection vials, bottles, cartridges, and ampoules.
Impact of COVID-19 on North America Amber Glass Packaging Market
The unprecedented COVID-19 pandemic hit North America amber glass packaging market negatively. As the number of COVID-19 cases were surging, severe regulations were imposed in both the US and Canada, and the governments of these countries imposed strict lockdowns, which decreased sales of alcoholic drinks, resulting in decreased demand for amber glass packaging, eventually incurring huge loses to the overall North America amber glass packaging market. However, the market is expected to flourish during the post COVID–19 period as production in the food and beverages as well as the alcohol industries resume as well as demand for pharmaceuticals surge.
Major players operating in North America amber glass packaging market include Ardagh Group S.A., Piramal Enterprises Ltd., Gerresheimer AG, O-I, J.G. Finneran Associates, Inc., Pacific Vial, Origin Pharma Packaging, Silver Spur Corp., Kaufman Container, and Anchor Glass Container Corp. These companies employ various strategies to further enhance their market share, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and North America Amber Glass Packaging Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in North America Amber Glass Packaging Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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