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The Asia Pacific Beverages Multipacks Market is a dynamic and evolving one with market forces being a multitude of the same. These components are the main thing in the determination of lead, advancement, and the general condition of the soft drink multipacks flow in the domain. The strong tendency of the consumers to seek convenience and easy enough consumption is another key issue which also affects the market performance. As the lifestyle pace becomes quicker, consumers need beverages that are ready to go and easy to transport, which leads to an increase in multipacks demand.
In 2022, the revenue of Asia Pacific Beverage Multipacks Market Size was billed at USD 3.5 billion. The market size for the beverage multipacks industry is anticipated to advance from USD 3.7 Billion from 2023 to USD 6.3 Billion by the end of 2032, with regards to a compound annual growth rate (CAGR) of 6.80%.
Lastly, the population of the region and also the disposable income level have each in their own way significantly increased the size of the market for beverage multipacks. With more consumers turning to buying packaged beverages in multipacks, beverage manufacturers are in a strong position to benefit by entering the market with innovative multipack designs that suit the diverse population under different preferences. Apart from that, the accentuation of westernization and urbanization in the Asia Pacific region has also contributed to the increasing demand for the packaged and multipacks beverages. It all originates from the fact that they perfectly fit the modernized and rapid-paced lifestyle which is very characteristic of the urban life.
The government regulations and policies of course come for a share in this matter too. The implementation of regulations of packaging materials, labelling requirement, and environmental sustainability criteria have consequences for the beverage industry. With the awareness level of regional authorities going up and the concern for the environment, juice makers have no choice but to look for eco-friendly ways to pack their multipacks. This increasingly sustainable approach is not only in compliance with regulations but also plays into the growing interest from consumers regarding the ecologically responsible production of products.
The salient feature for the Asia Pacific Beverage Multipacks Market is the market’s competitive landscape shaped by the competition. Both the domestic and international contestants goof competition which sees innovation, product diversification and product differentiation among them. Brands aim to set their multipack products out-of-the-ordinary by means of distinctively designed packaging, unique formula and reaching to consumers through strategic advertising. This is an environment that is conducive to business rivalry, with companies offering updated products from time to time to give customers an array of options, which constantly influence market growth.
Asia Pacific Beverage Multipacks Market Highlights:
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.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Beverage Multipacks Market Trends
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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
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Parekhplast India Limited
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Crown Holdings, Inc.
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Uflex Ltd
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Haldyn Glass Limited
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Rexam plc
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Piramal Glass Private Limited
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HSIL Group
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Amcor plc
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Hindustan National Glass & Industries Ltd (HNGIL)
Beverage Multipacks Market Segmentation
Beverage Multipacks Pack Type Outlook
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Standard
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Variety Pack
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Seasonal/Promotional
Beverage Multipacks Beverage Type Outlook
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Alcoholic
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Non-alcoholic
Beverage Multipacks Distribution Channel Outlook
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Grocery Store
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Convenience Store
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Supermarket
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Hypermarket
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Online Store
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Others (club, pharmacy, etc.)
Beverage Multipacks Regional Outlook
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Indonesia
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Thailand
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Vietnam
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Malaysia
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Singapore
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Rest of Asia-Pacific
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