With a 4.1% CAGR, the market for beverage packaging is projected to reach US$ 156.7 billion in 2032. In 2022, the market is anticipated to be worth US$ 104.8 billion. In order to accommodate the expanding customer demand, eco-friendly packaging measures are being introduced along with numerous technological advancements in the beverage packaging industry as the market matures.
The need for beverage packaging is being driven by the desire for convenience. Over the projection period, there will likely be a growth in demand for beverage packaging due to the increase in on-the-go consumption. Moreover, the market for beverage packaging is anticipated to be driven by the expanding single-serve packaging trend. The development of novel packaging options like stand-up pouches, shrink wraps, and spouts is also anticipated to fuel the market for beverage packaging.
In the beverage packaging market, brand owners in developed countries such the U.S. have been quick to capitalize on this growing demand and offer seasonal flavoured water, such as chocolate peppermint.
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Beverage Packaging Market Landscape
Key players in the beverage packaging market such as Ball Corporation and Crown Holdings, Inc. emphasize on product development by adopting smart packaging technology, such as smart beverage cans, which can connect with electronic devices to interact with the user. Key players operating in the global market for Beverage packaging include Crown Holdings, Inc., Amcor Limited., Ardagh Group S.A., Ball Corporation, Gerresheimer AG., Owens-Illinois, Inc., Berry Global, Inc., Beatson Clark Ltd., Intrapac International Corporation, BA Glass Germany GmbH., Nampak Ltd., Vidrala S.A., Silgan Containers LLC., Mahmood Saeed Beverage Cans & Ends Industry Company Ltd., and Orora Packaging Australia Pty Ltd.
High consumption of alcohol in developed and developing economies is expected to bolster the demand for beverage packaging, especially beer bottles and beverage cans, during the next ten years. High demand for flavoured alcoholic beverages, wine, soft drinks, and energy drinks are expected to bolster the sales of beverage cans in the beverage packaging market.
Key Takeaways of Beverage Packaging Market Study
According to FMI analysis, glass is expected to remain the top revenue generating segment in the beverage packaging market. However, it is expected to witness a decline during the forecast period, owing to the shift in preference for plastic packaging solutions, due to the brittle nature of glass.
The growth in consumption of bottled water is expected to continue in the beverage packaging market as more consumers continue to make the shift from carbonated drinks to low-sugar drinks. This is attributed to rising consumer awareness regarding the health effects associated with the consumption of carbonated drinks.
The Asia Pacific except Japan (APEJ) Beverage packaging market is identified as the most lucrative geographic region, wherein China & India represent a substantial total incremental opportunity over the forecast period.
“The beverage packaging industry is characterized by several design-level trends. One of the most prominent trends is an inclination of beverage packaging manufacturers towards packaging design innovation, keeping consumer convenience at the center. Many vendors focus on lightweight feature to help beverage packaging manufacturers in their efforts to reduce transit costs,” says an FMI analyst.
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Beverage Packaging Market by Category
By product Type:
- Liquid Cartons
- Beverage Cans
- Glass Bottles
- Plastic Bottles
- Others
By Material:
- Glass
- Plastic
- Metal
- Paper/Paperboard
By Application:
- Alcoholic Drinks
- Beer
- Wine
- Non-Alcoholic Drinks
- Fruit Juices
- Carbonated Drinks/Soda
- RTD Beverages
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