Global Beverage Packaging Market was valued at USD XXXXX billion, and is predicted to grow USD XXXXX billion at a CAGR of XXX% during the forecast period. Beverages includes products that are ready-to-Drink, it can be alcoholic or non-alcoholic.
The growing demand for preserving the quality of the beverage being packed with an extended shelf life, are driving factors of the market growth. Another factor influencing the growth is new distribution and packaging mechanism that reduces the storage cost and works with the global Beverage Packaging Market standards.
Among the Beverage Packaging Industry, the plastic segment is predicted to grow at a high rate. This is majorly due to rise in growth of population and the urban lifestyle, availability of raw material and growing importance to create innovative design. Plastic is preferred instead of glass bottles owing to its various features. Plastic is often preferred by producers looking for less weight, fast transportation and less packaging cost option. Polyethylene terephthalate (PET) bottles have been growing in the market steadily and is predicted to grow during the forecast period.
In the Beverage Packaging Industry there are new segments coming up like energy and sports drinks, flavored water, vitamin water and vegetable juices which are helping the growth of beverage packaging market size. The new segments have targeted customer base and are popular among the masses. They are meant to be consumed by specific customers. Also, new means for distribution of beverages has led to market penetration and in a pocket-friendly way. Automatic vending machines, innovation in robotics, automation of process and licensing are assisting increase in beverage packaging market size. In terms of market revenue share, jars and bottles contribute the maximum amount owing to the rise of demand in bottled water.
The market is predicted to be influenced by the environmental norms related to plastics and its additives in packaging. These restrictions are predicted to negatively affect the growth of beverage packaging market size. Another factor that might influence the market growth negatively is the rising health awareness among people.
The Global Beverage Packaging Industry is segmented on the basis of product, packaging material, packaging application and regional. Segmentation on the basis of product is done as Can, Bottle & jars, Pouch, Carton and others. On the basis of material it is segmented as Plastic, Glass, and Metal and other. Segmentation on the basis of application is Alcoholic and Non-Alcoholic. Segmentation on the basis of region is North America, Europe, Asia-Pacific, Central and South America, Middle East and Africa.
Asia-Pacific is predicted to grow at a significant pace and is expected to keep growing over the forecast period. China contributes maximum to beverage packaging market size, as major amount of manufacturing is also done in China. Demand for beverage packaging is high owing to increased spending power of the people and consumption of beverage.
Key players of Beverage Packaging Industry are Sonoco Product Company; Mondi PLC; Alcoa Corporation; Bemis Company Inc.; and Stora ENSO and many others.
The various segments of Beverage Packaging Industry are,
- Bottle & jars
- North America
- Central and South America
- Middle East and Africa
What to expect from the upcoming report on ‘Beverage Packaging Industry’:
- Future prospects and current trends of the Beverage Packaging Industry by the end of forecast period.
- Information regarding technological progressions as well as innovations across the world.
- Supportive initiatives by government likely to influence the market dynamics.
- In-depth analysis of different market segmentations including regional segmentations, applications and types.
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market.
- Trends, drivers, opportunities, restraints, challenges and key developments in the market.
Who should buy this report?
Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies.