The beverage packaging market was valued at USD 148.1 billion in 2021 and is projected to grow at a CAGR of 5.0%, to reach USD 189.0 billion by 2026. The increase in demand for products made from biodegradable and renewable raw material presents lucrative opportunities for the players in the market. The rise in consumption in emerging economies is encouraging the growth of the market. With the rapid industrialization and urbanization, the consumption of packaged beverages is increasing in developing countries of Asia Pacific and South America. These factors have helped in the growth of beverage packaging market.
Bottle is estimated to account for the largest share in 2021 for beverage packaging based on the packaging type segment Glass bottles depict a luxury appeal when it comes to the packaging of alcohols.These are said to enhance the presentation of packed products.
Plastic bottles are easy-to-handle, shock resistant, and resalable.Bottles made from PET & HDPE are preferred by manufacturers for their cost-effectiveness.
These bottles can compete with cartons on the extended shelf life of products when stored at chilled or ambient temperatures.Serving non-alcoholic beverages in PET and glass bottles is the most commonly used method for packaging.
Nowadays, this trend is followed for alcoholic beverages as well. These factors have significantly contributed to the growing use of bottle packaging in the beverage packaging market.
The metal category of the material type will hold the largest share in the beverage packaging market along with growing at one of the fastest rate The unique properties of metal cans make them ideal for holding carbonated beverages.They increase the shelf-life of the beverage by allowing it to refrigerate for a long time.
The thin walls of metal cans withstand more than 90 pounds of pressure per square inch exerted by the carbon dioxide in beer and soft drinks.Aluminum’s shiny finish also makes it an attractive background for decorative printing, important for a product that grabs the attention of consumers in a competitive market.
Thus, the above factors are anticipated to drive the global beverage packaging market.
Asia Pacific is expected to hold a significant share in the beverage packaging market globally The Asia Pacific region is estimated to account for the largest share in the dairy beverage market, and the demand for liquid dairy products is driven by economic growth, urbanization, and the rise in purchasing power of consumers.The bottle is estimated to be the dominating packaging type in the Asia Pacific region and counts for the major market share, whereas the carton is the fastest-growing packaging type in the region.
The increase in the size of the population and the growing market has meant that the demand for non-alcoholic beverages is projected to offer promising opportunities. These factors are fueling the growth of beverage packaging market in Europe.
Break-up of Primaries: • By Company Type: Tier 1 – 43 %, Tier 2 – 41%, and Tier 3 – 16% • By Designation: C Level – 54% and D Level – 46% • By Region: Europe – 35%, Asia Pacific– 28%, North America – 22% and RoW* – 15%, RoW* includes the Middle East, and Africa. Leading players profiled in this report: • Amcor Group GmbH (Switzerland) • O-I Glass, Inc. (US) • Crown Holdings, Inc (US) • Ardagh Group S.A. (Ireland) • Verallia SA (France) • Tetra Pak Group (Switzerland) • Ball Corporation (US) • Vidrala S.A. (Spain) • Toyo Seikan Group Holdings, Ltd. (Japan) • CPMC Holdings Limited (China).
Research Coverage: The report segments the beverage packaging market on the basis of packaging type, material type, product type, and region. In terms of insights, this report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss views on the emerging & high-growth segments of the beverage cans, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report: • To get a comprehensive overview of the beverage packaging market • To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them • To gain insights about the major countries/regions in which the beverage packaging market is gaining popularity
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