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Asia Pacific Beverage Multipacks Market Share

ID: MRFR//11006-HCR | 128 Pages | Author: Snehal Singh| May 2024

The Asia Pacific Beverage Multipacks Market is a vibrant and competitive market sector leveraging both varied consumer tastes as well as the myriad of beverage choices. Here, within this engaging marketplace, companies use many kinds of market share positioning plans to take the lead among the competitors and win target customers’ loyalty.

One of the key strategies an organization can apply is product differentiation. This is the technique an organization uses to stand out from the rest by being unique by the flavors or the features. The nightingale philosophy presents a vision for set the brand apart from all the products and services to meet consumers' expectations and create distressing recognition in the minds of consumers. Difference is often the key aspect in this storm that the producers use to stand out from their competitors, as this can be in the form of unique packaging designs or using in their production foreign ingredients that can create series giving the product identity and the customers new experience.

However, there are the price-related strategies that marketers should also take into account. Companies competitively allocated their items at different price levels to make sure the maximum customer both segment with the income and also the ones who are budget-restricted got covered. Certain brands could go for high-end pricing strategy which is based on quality and discretionary nature since others may go for the cheaper variants to comprise low-budget audience. Pricing strategies that are effective not only change the share in the markets but they also bring to the consumers the perception of the product value, which in turn determines the consumers' decisions whether to buy.

Distributed system also contributing to that; market share positioning as well. Developing a potent supply chain as well as a timely and efficient distribution network for the products allows companies to have a better market coverage and occupy leading places at retail outlets. Manufacturers work with wholesalers and retailers to further place products in a way most prominent and convenient. Furthermore, an important point is an appropriate distribution channel strategy that allows one to be highly visible in the market and also qualifies the product to occupy a large market share through increased reach and availability.

Besides marketing and promotion, beverage multipacks sector of Asia Pacific marketing also suggested because marketing and promotion are the important parts of market share positioning. Companies put their marketing investment in such campaigns, through social media ads, sponsorships or brand promotions, to uplift their brand visibility and steadily build their brand image. Through engaging marketing tactics, consumer awareness is developed, interest in a certain brand or product is formed, and that ultimately determines the buying decision. Successful marketing can offer a brand a competitive edge cherished by marketers and amount to a surplus in market share.

The latest changes in consumer preferences result in two prominent tendencies, namely sustainability (environmental aspect) and corporate social responsibility, which are essential components in the market share positioning. Consumers of the Asia-Pacific region nowadays have a preference for well-done products that are composable as well as socially good. Firms implementing environmentally sustainable practices into their business, for example creating recyclable packaging or funding community projects, can grow their market share through attracting the green-oriented customers market because of the fact that it is growing today.

Asia Pacific Beverage Multipacks Market Highlights:

Asia Pacific Beverage Multipacks Market Trends

Asia Pacific Beverage Multipacks Market Analysis

Asia Pacific Beverage Multipacks Market Share

Asia Pacific Beverage Multipacks Companies

Asia Pacific Beverage Multipacks Market Overview

Asia Pacific Beverage Multipacks Market Size was valued at USD 3.5 Billion in 2022. The beverage multipacks industry is projected to grow from USD 3.7 Billion in 2023 to USD 6.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2023 - 2032). The key market drivers boosting the growth of the beverages multipacks market include rising demand for ready-to-drink alternatives including improved water, organic juices, and functional drinks, as well as rising consumption of carbonated soft drinks and alcoholic and non-alcoholic beverages. Asia Pacific Beverage Multipacks Market Overview Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Beverage Multipacks Market Trends

Rising consumption of beer in various countries to accelerate market growth

The recent past has seen an exponential increase in the use of beer. With over 20 million individuals reaching legal drinking age each year, India continues to be one of the biggest beer markets. Additionally, the newest Kingfisher Instant Beer has been revealed by United Breweries, the most well-known beer manufacturer in India and the maker of the well-known Kingfisher brand. The product comes in a box with two sachets inside. Furthermore, the glass bottle with a crown closure is the traditional beer packaging material in the area. Since glass is widely used in the region to package alcohol, demand is anticipated to rise over the course of the projection period. The volatility in crude oil prices affects the alcohol industries' margin profile, which is heavily influenced by glass pricing. ‏In addition, customers in this area are gravitating more and more toward gluten-free beers. Moreover, beer consumption is increasing at a rate of over 6% annually in China, India, and Vietnam. As a result, the increased creativity in flavors and preparations is probably going to fuel consumer demand for beer and accelerate the expansion of beer cans. As a result, it is projected that during the forecast period, this will increase the beverage multipacks market's CAGR.

Moreover, the beverage industry in the area is seeing a rise in demand for fruit pulp, juices, and other concentrates, as well as sauces and ketchup bottles. Furthermore, the market has grown due in large part to the growing demand for drinks in the region, which has been fueled by a variety of health beverages, milk products, beer, and liquors. Additionally, the top beverage producers in India export a range of goods, including coffee and tea, to international markets every year. In FY 2019, India's beverage manufacturing industry brought in USD 10.94 billion, according to a survey conducted by the Ministry of Statistics and Program Implementation (MOSPI). By 2023, it's predicted to hit USD 11.69 billion. As an example, the beverage industry's packaging solution, Asepto Eye, was introduced by UFlex Limited, the largest international provider of flexible packaging materials and solutions in India. Asepto's latest product, which continues the inventive path that the business has always followed, brings aseptic packing a fresh lease on life due to its excellent packaging. Thus, driving the beverage multipacks market revenue.

Beverage Multipacks Market Segment Insights

Beverage Multipacks Pack Type Insights

The Asia Pacific Beverage Multipacks market segmentation, based on pack type includes standard, variety pack and seasonal/promotional. The variety pack category led the market in 2022. These multipacks are made to give customers a number of choices in a single, easy-to-purchase package. Customers who prefer to sample various tastes or varieties of beverages without committing to a full-sized container of each find them to be popular. In order to accommodate a wide range of consumer preferences, variety packs are widely used in markets for soda, juice, energy drinks, and even alcoholic beverages.

Beverage Multipacks Beverage Type Insights

The Asia Pacific Beverage Multipacks market segmentation, based on beverage type, includes alcoholic and non-alcoholic. The non-alcoholic category generated the most income. Beverages of many kinds, including energy drinks, bottled water, soft drinks, juices, iced tea, and more, can fall under this category. Because people are becoming more health conscious and looking for alternatives to alcohol, the popularity of non-alcoholic beverages has been rising. In this category, beverage multipacks provide consumers easy ways to buy multiple non-alcoholic drinks in one packaging.

Figure 1: Asia Pacific Beverage Multipacks Market, by Beverage Type, 2022 & 2032 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Beverage Multipacks Distribution Channel Insights

The Asia Pacific Beverage Multipacks market segmentation, based on distribution channel, includes grocery store, convenience store, supermarket, hypermarket, online store and others (club, pharmacy, etc.). The online stores category generated the most income. The growth of the beverage multipack market is being aided by the expansion of the number of online distribution channels available. Growing potential for manufacturers are also being brought about by the increase in demand for beverages through online channels. Important participants in the packaging sector are working together with medium- and small-sized businesses as well as large beverage producers to create a packaging portfolio appropriate for e-commerce platforms.

Beverage Multipacks Regional Insights

During the projection period, it is expected that Asia Pacific would have a significant market share for beverage multipacks. A number of reasons are driving market development in the region, including rapid industrialization, urbanization, an increase in the younger population, and higher disposable income of consumers. The region's beverage consumption is rising quickly. This increases Asia Pacific's need for beverage packaging solutions. Additionally, the food and beverage sectors are the main drivers of the growth of the beverage multipacks market in India. Retail accounts for 70% of the food and grocery market in India, which is the sixth largest in the world, according to IBEF. Moreover, the middle-class consumer base's increased purchasing power, organized retail's explosive growth, and exports all contribute to the market's expansion. Standardized packaging is now required in order to maintain manufacturing speed, extend shelf life, and guarantee quality all at once.

Figure 2: ASIA PACIFIC BEVERAGE MULTIPACKS MARKET SHARE BY REGION 2022 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Beverage Multipacks Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the beverage multipacks market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, beverage multipacks industry must offer cost-effective items.

Key Companies in the beverage multipacks market include

Parekhplast India Limited

Crown Holdings, Inc.

Uflex Ltd

Haldyn Glass Limited

Rexam plc

Owens-Illinois Inc

Piramal Glass Private Limited

HSIL Group

Hindustan Tin Works Ltd

Amcor plc

Hindustan National Glass & Industries Ltd (HNGIL)

Beverage Multipacks Market Segmentation

Beverage Multipacks Pack Type Outlook

Standard

Variety Pack

Seasonal/Promotional

Beverage Multipacks Beverage Type Outlook

Alcoholic

Non-alcoholic

Beverage Multipacks Distribution Channel Outlook

Grocery Store

Convenience Store

Supermarket

Hypermarket

Online Store

Others (club, pharmacy, etc.)

Beverage Multipacks Regional Outlook

Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Vietnam
- Malaysia
- Singapore
- Rest of Asia-Pacific

Asia Pacific Beverage Multipacks Companies

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