Beverage packaging market was valued at USD 138.2 billion in 2020 and is projected to reach USD 210.32 billion by 2027, at a CAGR of 6.35%
The COVID-19 pandemic spreads all over the world and increases the number of deaths and long-term health impacts. To overcome this, government-imposed full or partial lockdowns that impact all aspects of the economy. The government also developed various policies for these impacts to avoid supply chain disruptions, higher prices for raw materials, and severe economic fallout for employees.
The beverages packaging market also faces many problems like supply chain disruptions, lack of raw materials, transportation, and many more. The companies take care with the help of innovative technologies that are friendly to the environment protect the beverages from contamination. The beverage packaging market grows its manufacturing lines with recyclable features. It is very important to design a product with sturdy sustainability along with hygiene and safety concerns. Further, rapidly the market growth increases for its effective and hygienic packaging.
The prominent key players in the beverage packaging market are the following:
Amcor Limited is one of the top leading company which develops several new technologies like PET bottle in the market.
In the future years, the surging demand for energy drinks is expected to increase the demand for the beverage packing market. The composition of carbonated and non-carbonated beverage packaging is the major chunk of the packing industry in the market. The beverage packaging suppliers who invested in the development of production capacity acquire the overall benefits in the market. The advanced technology in packing machinery and equipment also increases the demand for the market. The increase of demand for sustainable products and awareness regarding environmentally-friendly packaging rises the demand for the packaging market globally. Moreover, the rise in health awareness among youths increased the demand for packaged juices, energy drinks, and health drinks that increases the growth of beverage packaging.
The packaging waste is harmful to the ecosystem because its decomposition needs decades. The government is imposing strict laws to avoid this problem which is followed by the beverage packaging market too. The beverage packaging market manufactured products with recyclable features.
The rise of awareness of using environment-friendly products among consumers is the best opportunity to increase the growth of the beverage packaging market. These eco-friendly products are manufactured with biodegradable and renewable raw materials.
Consumers are preferring sustainable packaging with hygienic and environment-friendly packages. With their available resources, beverage packaging manufactured the best quality and safe products but this sustainable factor makes this product expensive.
Study Objectives -
The global beverage packaging market research has been segmented based on the material, packaging type, product, and region.
Based on Packaging Type
Based on the packaging type, the market is segmented into flexible, rigid, and semi-rigid. Rigid packaging is widely used for its properties like a high barrier to light, moisture, and oxygen that helps the food to not be affected by contamination. Flexible packaging is the fastest-growing segment for the ability to manufacture the product thinner, lighter, and compact packing.
Based on Material
The global market based on the material is segmented into metal, plastic, paper, and glass. Out of these, the metal segment is expected to grow at a higher growth rate. Metal packaging offers resilience and convenience packaging methods. The metal used for beverages are may be aluminum or steel. Metal can have the advantage of eliminating the damage from light and oxidation and keeps the food fresh for a long time.
Based on Products
Based on the Products, the global market is segmented into cans, bottles, pouches, and others. Among these, the bottle segment is expected to hold the largest market share. Packaging is done according to the beverages that are served. Mostly, non-alcoholic drinks are served in bottles. Bottles are convenient for storing and carrying for consumers.
Based on Region
Geographically, the market is segmented into Asia-Pacific, North America, Europe, and the Rest of the world. Asia-Pacific holds the highest growth rate for its increasing demand for beverages like carbonated soft drinks, beer, wine, and more.
Regional Analysis -
Based on the region, the global beverage packaging market is segmented into Asia-Pacific, North America, Europe, and the Rest of the world. Asia-Pacific is expected to hold the largest market share for its increase in demand for beverages like soft drinks, beer, wine, etc. the emerging economies like India and China have a high demand for beverage packaging which increases the market growth in this region. Beverage cans and bottles are made up of PET has a high demand for their low cost and flourishing end-use industries like RTD juices, tea, and coffee in this region.
North America is estimated to post the highest CAGR during the forecast period. Increasing beer consumption and the adoption of cutting-edge packaging technologies are the factors that increase the development of the market in this region. This region produces large quantities of beverages. Europe is expected to hold the second-largest share and witness moderate growth in the global market. The major growth drivers of this region are Western European countries like Germany, France, Spain, etc.
The beverages are made for consumption all over the world. So, these beverages should pack in such a manner that enhances the features and flavor of the drink. The package’s design, convenience, and ability to transport easily are expected to drive the growth of the market. Development of global market credits high investments which are used for the expansion and technological upgrades.
Now-a- days, to ensure the difference from other brands, the beverage packing companies focusing on not only transporting a drink but also on a particular drink safely transported to various retailing points and also be stacked appealingly in the market. The beverage packaging also needs to ensure the maximum quantities are transported on a particular trip to avoid the leak and damage for consumption. The internet-savvy generation is packing almost every product and it is applied to beverages also and they are consumed.
This global beverage packaging research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market dynamics include the beverage packaging market drivers, restraints, challenges, and opportunities. The global market segments are material, packaging type, product, and region. Soon the market will see a lift.
The beverage packaging market outlook is segmented into material, packaging type, product, and region.
By Packaging Type
Flexible, rigid, and semi-rigid.
Metal, plastic, paper, and glass.
Cans, Bottles, Pouches, and others.
Asia-Pacific, Europe, North America, and the Rest of the world are the main geographies included in this market.
|Market Size||2027: Significant Value|
|CAGR||6.35% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Packaging Type, Materials, and Products|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Ball Corporation, Saint-Gobain S.A., Mondi PLC, Owens-Illinois Inc., Reynolds Group Holdings Limited, Tetra Laval International S.A., Crown Holdings Inc., Rexam PLC, Amcor Limited, and Alcoa Inc|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||Surging demand for energy drinks|
Frequently Asked Questions (FAQ) :
CAGR of 6.35% is the estimated growth rate for the beverage packaging market.
Asia-Pacific, Europe, North America, and the Rest of the world are the four main regions.
New product developments, Joint ventures, mergers, and acquisitions, strategic alliances, and research developments.
Packaging, material, and product.
The next eight years period from 2020-2027.