According to our most recent market research, “Recycled Glass Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type and Application,” the market is expected to grow from US$ 3,435.81 million in 2022 to US$ 4,571.62 million by 2028, growing at a 5.5% CAGR from 2021 to 2028. The report highlights key factors driving market growth as well as prominent market players and their market developments.
Bottles and containers are completely recyclable and retain their purity and quality. Because of the shift in consumer preferences toward eco-friendly packaging, many manufacturers of bottles and containers use recycled glass. Government initiatives in various countries to reduce air and water pollution caused by industries have created lucrative opportunities for recycled products. The bottles and containers are entirely constructed of recycled glass. The market for bottles and containers has been driven by the demand for environmentally friendly packaging in both developed and developing countries. Glass bottles are commonly used to package liquids such as soda, juice, beer, and wine. This bottle recycling is a quick process, as a bottle can be recycled and kept on store shelves for 30 days.
Recycled glass is widely used in the production of bottles and containers for the commercial and residential sectors. The consumption of bottles and containers is directly influenced by global population growth and urbanisation. The increasing use of recycled glass in bottle and container, flat glass, fibre glass, highway beads, fillers, and other applications propels the recycled glass market forward. It is due to the increasing demand for end-use industries such as packaging, construction, coatings, and so on. The packaging industry heavily relies on bottles and containers for bulk packaging and maintaining product shelf life and quality. Bottles and containers are widely used in the pharmaceutical and food and beverage packaging industries.
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The recycled glass market is classified into bottle and container, flat glass, fibre glass, highway beads, fillers, and others. In 2021, the bottle and container segment had the largest share of the recycled glass market. Recycled glass is increasingly being used in domestic, commercial, and industrial bottles and containers. Many food and beverage industries use bottles and containers for packaging on a large scale. This has resulted in increased consumption of recycled glass for industrial applications. Furthermore, recycled glass is widely used in the construction industry to make highway beads. Furthermore, increased urbanisation has increased industry demand for various types of recycled glass.
North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South and Central America are the five major regions of the recycled glass market. In 2021, Europe had the highest revenue share of the recycled glass market. The high demand for bottles and containers from the food and beverage and pharmaceutical industries are major factors driving the recycled glass market growth in Europe. In addition, Europe has a developed economy, a modern population, and a high per capita income. This factor has resulted in an increase in domestic alcoholic beverage and packaged food sales. Recycled glass is in high demand in countries with strong packaged food industries, such as the Netherlands, Germany, France, and the United Kingdom.
Some of the major key players operating in the global recycled glass market include Coloured Aggregates Inc.; Gallo Glass Company; Strategic Materials, Inc.; Vetropack; O-I Glass, Inc.; Dlubak Glass Company; G.R.L, Glasrecycling; Ardagh Group S.A.; Bradish Glass, Inc. and Momentum Recycling, LLC
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