The Beverage Packaging Market: Overview
The Beverage Packaging Market – Growth Factor
The rising use of beverage goods around the world is one of the main drivers fuelling industry expansion. The market is expanding as a result of rising consumer knowledge of the benefits of consuming natural, fresh, and convenient beverage products, as well as ongoing developments in the industry. The primary purposes of packaging are to contain the food, to shield it from deterioration processes, which are mostly brought on by external variables like oxygen, light, and moisture, and to tell consumers about the food’s ingredients and nutritional value. One of the main drivers currently fuelling market expansion is the rising demand for practical beverage packaging solutions that can protect the flavour and nutritional value of the product, extend its shelf life, and provide a high oxygen barrier against external contaminations.
The Beverage Packaging Market – Market Trends
• Additionally, the rise in the working population along with busy schedules and hectic lives is promoting the market expansion by increasing consumer preference for ready-to-drink (RTD) beverages including tea, coffee, and flavoured milk.
• In addition, the development of eco-friendly packaging options that are recyclable, sustainable, and help reduce total carbon footprint are boosting market expansion. This is because more people are becoming environmentally concerned.
• Expanding PET bottles and metal cans as preferred materials for the same are an indication of the rising demand for carbonated drinks, energy drinks, and juices, among other things.
• Glass, on the other hand, has faced difficulties due to rising production and recycling costs despite its ability to be recycled. Regarding contemporary sustainability trends in beverage packaging, the interest for the same has been increasing.
The Beverage Packaging Market – Segmentation
The Beverage Packaging Market fragrance concentrates market has been sub-classified packaging material, beverage type, packaging type.
On the basis of packaging material, the Beverage Packaging Market is bifurcated into:
• Glass
• Metal
• Plastic
• Paperboard
• Others
On the basis of beverage type, the market is segmented into:
• Alcoholic beverage
• Non-alcoholic beverage
• Others
On the basis of packaging type, the market is segmented into:
• Bottles
• Cans
• Carton
• Others (pouches and bag-in-box)
The Beverage Packaging Market –Regional Analysis
Europe dominated the global Packaging Market, for beverage packaging has grown as a result of the rising demand for regionally produced and branded beverages in these areas. India and China have contributed significantly to the expansion of the packaging market among these nations.
Over the course of the prediction, the Chinese market will expand by 1.4 times. Over the course of the forecast period, the market for beverage packaging in India is anticipated to expand at a compound yearly growth rate of 5.6%. According to the Indian Beverages Association, the demand for bioplastics and PET bottle packaging in India will increase as more ecologically friendly substitutes and recycling facilities are made available to consumers. This will contribute to the Indian beverage industry’s continued growth.
The Beverage Packaging Market – Key Market players
Global key players of Global Beverage Packaging Market include Crown Holdings, Inc., Ardagh Group S.A., Ball Corporation, Gerresheimer AG, Berry Global Inc., Beatson Clark Ltd., Tetra Pak Group, Owens-Illinois, Inc., Toyo Seikan Group Holdings, Ltd., Silgan Containers LLC, Vidrala S.A., Nampak Ltd., BA Glass Germany GmbH, Orora Packaging Australia Pty Ltd., Frugal Limited, Green Creative, TIPA, and Bonito Packaging.
Report scope
Global Market: Historical Years- 2018-2021
Global Market: Forecast Years- 2022-2030
Global Market 2022- USD 104.8 billion
Global Market 2030- USD 156.7 billion
Global Market CAGR- 4.1%
Key Questions answered with an analysis in this report:
- What are the current market trends? Will there be an increase or decrease in market demand in the following years?
- Which product categories are expected to have the highest demand? What kind and applications might we expect in the future?
- What Economic Predictions are Available for the Industry Considering Capacity, Production, and Production Value?
- Which costs and profits are projected? What Will the Market Share, Consumption, and Supply Be? How do imports and exports operate?
- In light of the strategic advancements, where will the industry be in the mid- to long-term?
- What are the primary raw materials employed in the production?
- What is the value of the global market? How much was the market worth in 2022?
- Which companies are the main players in the market? Which businesses are leading the pack?
- What are the current business trends that can be used to create new sources of income?
- What Entry Strategies, Economic Impact Countermeasures, and Marketing Channels Should the Industry Use?
