Market Research Future (MRFR) has published a cooked research report on the “Global Beverage Cartons Market” that contains information from 2022 to 2032. The Global Beverage Cartons Market is estimated to register a CAGR of 4.50% during the forecast period of 2022 to 2032.
MRFR recognizes the following companies as the key players in the Global Beverage Cartons Market Tetra Pak, Elopak, Sig Combibloc Group Ltd., Mondi Group, Westrock Company, Visy, Stora Enso, Pactiv Evergreen, IPI S.r.l., and Greatview Aseptic Packaging Co. Ltd.
The Global Beverage Cartons Market is accounted to register a CAGR of 4.50% during the forecast period and is estimated to reach USD 25.6 Billion by 2032.
The Beverage Cartons Market refers to the global market for carton packaging used specifically for beverages. Beverage cartons are containers made from paperboard or cardboard materials that are designed to hold various types of beverages, such as milk, juice, water, and other non-alcoholic drinks. These cartons are typically composed of multiple layers, including paperboard, plastic, and aluminum, which provide protection and preserve the freshness and quality of the beverages.
The Global Beverage Cartons Market has been segmented based on Type, and Application
Based on Type, the market is segmented into Refrigerated Cartons and Shelf-Stable Cartons. In 2022, the shelf-stable cartons segment held the largest market share. This can be attributed to the need for a sanitary environment to preserve the quality of many beverage items, such as milkshakes and fruit juices, which are susceptible to microbial proliferation at elevated temperatures. To address this concern, beverage producers are increasingly adopting refrigerated cartons, which can maintain specific temperatures during transportation and storage.
Based on Application, the Market has been segmented Fruit & Vegetable Juices, Dairy Products and Others. In 2022, the dairy products segment accounted for the largest market share. This category's dominance is attributed to the increasing consumption of various dairy-based beverages, such as fresh milk, UHT milk, milkshakes, packaged coffees, and nutritional drinks.
The Global Beverage Cartons Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Beverage Cartons Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Beverage Cartons Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global Beverage Cartons Market comprises of Middle East, Africa, and Latin America.
In 2022, the Asia Pacific Beverage Cartons market took the lead, commanding a significant share of 45.80% in the global market. This dominance is underpinned by the region's economic expansion, particularly in developing nations like China, India, Taiwan, Indonesia, Malaysia, and Thailand. The robust economic growth in these countries provides a solid foundation for the market's supremacy.
The North America Beverage Cartons Market is projected to experience the fastest growth from 2023 to 2032. North America represents one of the largest markets for processed and packaged beverages. According to a survey published in The Hill, the average American consumes approximately 8.7 liters of alcoholic beverages each year. This trend is supported by the spirits business in the U.S., which witnessed a 5.3% growth in 2019, resulting in record sales of USD 29 billion, as reported by Forbes.
In Europe, the Beverage Cartons market commands a significant market share. The region is witnessing growing demand for low/non-alcoholic beverages and practical ready-to-drink (RTD) options, particularly among the younger population. This demographic favors lower-alcohol drinks with distinctive flavor profiles. The new generation's inclination toward experimenting with new flavors and sensory experiences has propelled the demand for packaged drinks and mocktails.
Key Findings of the Study
· The Global Beverage Cartons Market is expected to reach USD 25.6 Billion by 2032, at a CAGR of 4.50% during the forecast period.
· The Indian Beverage Cartons market emerged as the fastest growing market in the Asia-Pacific region.
· Based on Type, the Market has been segmented into Shelf-Stable Cartons holding the largest market in 2022.
· Tetra Pak, Elopak, Sig Combibloc Group Ltd., Mondi Group, Westrock Company, Visy, Stora Enso, Pactiv Evergreen, IPI S.r.l., and Greatview Aseptic Packaging Co. Ltd.
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