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Soft Drinks Packaging Market Research Report – Forecast to 2030

Soft Drinks Packaging Market Research Report— By Material (Glass, Plastic, Metal, Paperboard), By Packaging type (Box, Bottle, Cartons, Cans), By Application (Carbonated Soft Drinks, Functional Drinks, Juices, And Others) and Region — Global Forecast Till 2030

ID: MRFR/PNT/0974-HCR | February 2021 | Region: Global | 117 pages

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Market Overview


The soft drink packaging market is expected to grow at a CAGR of 3.95% during the forecast period of 2021-2028. Growing at such a good market CAGR, the global market is likely to be valued at a good market revenue by the end of the forecast period in 2028. A soft drink is generally a non-alcoholic beverage that consists of various flavors and other ingredients. It primarily provides help in body needs like hydration, sugars or calories, nutrients, vitamins, and many others, based on its ingredients followed by its vitamins and minerals.


Soft drinks are consumed by people of all age groups. These drinks are available in the market in a variety of options such as juices, flavored water, energy drinks, and many others. Since soft drinks are known to be ready-to-consume products. These are available in the right quality and for the same, proper packaging is imperative for keeping the product in perfect condition. Therefore, the act of packaging plays an important role as it provides detailed information about the product content, constituting ingredients, and manufacturing, and other important facts like the expiry dates.


COVID 19 Analysis


The soft drink packaging market value has been affected by the arrival of the pandemic in China followed by its obnoxious spread in the international market premises. The onset of the pandemic has been huge and hence, the global governments had to take steps like imposition of lockdown and other functional restrictions that might hamper the market from growing as per its maximum potential. However, the rise in investments and funds to carry the research and development work on a large scale will help in the expansion of the market size followed by the rising potential of the market players and government to meet the rising needs of the global target audience.


Competitive Landscape


The soft drinks packaging industry has been witnessing trends that support its expansion and rise especially during the ongoing forecast period that will be ending in 2028. The global soft drink packaging market is witnessing an advent in competition because of the recent developments that have been undertaken by the following market players:



  • Amcor Ltd. (Australia)

  • Mondi Group (South Africa)

  • Crown Holdings, Inc. (U.S.)

  • CKS Packaging, Inc. (U.S.)

  • AptarGroup Inc.(U.S.)

  • CAN-PACK S.A. (Poland)

  • Ardagh Group Inc. (Luxembourg)

  • Bemis Company Inc.(U.S.)


Segmentation: Global Soft Drinks Packaging Market


 Soft Drinks Packaging Market


Market Dynamics


Drivers


Many factors can be held liable for the enhancement of the soft drink packaging market size. One of the most prominent reasons that have affected the growth of the soft drinks packaging market is the growth of demand by the growing population in the global market premises. In the last few years, as a part of the historic forecast period, the global market for soft drinks packaging is increasing continuously due to the high demand for soft drinks in developing countries mainly due to a rise in disposable income among individuals. There has been a huge change in lifestyle and the rapid degree of growth of the youth population is also a considerable driving factor for the growth of the market. Today, the target audience is becoming more conscious about their health, and hence, they prefer soft drinks instead of alcohol-based or hard drinks. Therefore, soft drinks have become a convenient alternative available to alcoholic beverages which are also contributing to the market growth substantially. The rising degree of innovation in operational activity and increasing urbanization in developing countries is also augmenting the demand for soft drinks during the ongoing forecast period that ends in 2028.


Restraints


However, the soft drink packaging market size during the forecast period that ends in 2018 is home to market issues, and witnessing the birth of stringent government restrictions over the use of non-biodegradable plastics are restricting the companies on other eco-friendly packaging materials. These market products are likely to be possessing the ability to be limiting the profit margin due to higher costs, ultimately affecting the overall soft drink packaging market and hence, restraining it from growing during the ongoing forecast period that will be ending in 2028. However, the global market chiefs and experts suggest that the market is likely to soar high on investments that will help the market opt for portfolios and developments to help the market grow during the period that will be ending in 2028.


Technology Analysis


These are factors that are driving the demand for ready-to-eat snacks during the ongoing period that will be ending in 2028. There has been a rise in busy lifestyles, followed by the aging population, and increasing awareness about nutritional value, safety, variety, and product appeal. Soft drinks are witnessing a hiked demand from millennials and hence, there has been a need for easy and comfortable packaging solutions in the global market premises for various consumer groups. For example, the relevant market trends suggest that nearly 80% of consumers look for the best value products that are available to the target audience that is spread in a series of global market locations especially during the ongoing period of 2021-2028.


Segment Overview


The global soft drink packaging market share has been anticipated to be increasing in the global market premises during the forecast period that ends in 2028. The global market has been segmented based on the heads like material, packaging type, application, size, and others like region.


Based on the material


The soft drink packaging market has been segmented based on the material and includes glass, plastic, metal, paperboard, and others. Among all, the segment for plastic packaging has anticipated being landed the highest market share because of its cost-efficiency.


Based on the packaging type


The soft drink packaging market has been segmented based on the packaging type and includes others like boxes, bottles, cartons, cans, and others.


Regional Analysis


Based on the regional segmentation of the soft drinks packaging market value, the global market has been segmented in regions like North America, Europe, Asia Pacific, and the Rest of the World. In 2017, about 202,400 million liters of soft drinks were sold only in the Asian Pacific region that is home to countries like India, China, Japan, Korea, and others. The driving factor of the increasing market size in the Asian Pacific region is witnessing an increase in the growth of the overall population and the population of youth in this region, which results in a wide degree of expansion in the huge customer base. Another reason for the growing soft drink market is the fast-growing economies in the global market premises. China is emerging as a leading country in the Asia Pacific because of its high population. There is a very high demand for soft drinks in countries like Argentina because of warm climatic conditions and higher incomes.


Recent Developments



  • Plastic packaging is known to be light weighted and hence, is easy to handle which influences the demand positively. As a part of the market segments, the plastic packaging segment will soar high as the period commences and move towards its conclusion. With the increasing degree of environmental awareness, the target consumers are getting increasingly inclined to make wide use of biodegradable and eco-friendly plastics.

  • PET bottles that are made up of a plastic resin chemically are known as polyethylene terephthalate. These are one such type of eco-friendly bottles which are in high demand nowadays and will likely be striving for a better marketing degree of the market during the forecast period that will be ending in 2028.

  • Only a small percentage of the total manufactured soft drinks that are being demanded by various consumer groups is packed in glass bottles. This is a good and preferred choice as it incurs a higher degree of transportation and storage cost. The rising use of glass bottles is likely to be reduced because of the availability of alternatives like metal cans and PET bottles. Further, market products like metal cans and PET bottles are lightweight and recyclable and save storage and transportation cost.


Report Overview


The soft drink packaging market report covers various market aspects and aims to conduct an in-depth market analysis to understand the patterns for growth and expansion during the forecast period that will be ending in 2028. The report helps in understanding the impact of the pandemic outbreak on the market and the steps that have been undertaken to solve the impact and improve the condition of the market.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   3.95% CAGR (2022 to 2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Material, Packaging type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Amcor Ltd. (Australia), Crown Holdings, Inc. (U.S.), AptarGroup Inc.(U.S.), Ardagh Group Inc. (Luxembourg), Graham Packaging Company (U.S.), Owens-Illinois, Inc.(U.S.), Ball Corporation(U.S.), Tetra Pak International S.A. (Switzerland), Allied Glass Containers(U.K), Bemis Company Inc.(U.S.), CAN-PACK S.A. (Poland), CKS Packaging, Inc. (U.S.) and Mondi Group (South Africa)
  Key Market Opportunities

  • Light weighted
  • Easy to handle which influences the demand positively
  •   Key Market Drivers

  • Growing soft drink market is fast-growing economies
  • Innovation in operational activity


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    Frequently Asked Questions (FAQ) :

    Major materials used for soft drink packaging include glass, plastic, metal, and paperboard.

    Global soft drink packaging market is expected to exhibit a strong 3.95% CAGR over the forecast period from 2022 to 2030.

    The growing demand for soft drinks is the major driver for the soft drink packaging market.

    Asia Pacific is likely to be a prominent regional market soft drink packaging over the forecast period.

    Leading players in the soft drink packaging market include Amcor Ltd., Graham Packaging Company, and Crown Holdings, among others.