Packaging Market To Grow 3.4%

The glass packaging market is expected to grow at a compound annual growth rate (CAGR) of 3.4% to 2019, according to a new report. The Transparency Market Research report states the global market for glass packaging was valued at US$ 47.43BN in 2012, and is expected to reach US$ 59.94 by 2019, growing at a CAGR of 3.4% to 2019. In terms of volume, global demand for glass containers was 45.71M/tonnes in 2012 and is expected grow at a CAGR of 3.1% from 2013-19. A rise in the global consumption of beer is expected to be one of the main factors driving the glass packaging market. Healthcare industry growth and use of glass bottles for storage of medicines is expected to augment glass demand.