The beverage packaging market has experienced an increased demand for smaller pack sizes, leading to a rise in the popularity of beverage cans due to their convenience. However, there has also been a significant increase in the consumption of bottled water as consumers become more aware of the sugar content and health effects of soft drinks. This trend has been particularly evident in developed countries like the U.S., where brand owners have capitalized on the growing demand by offering seasonal flavored water options, such as chocolate peppermint.
The consumption of alcohol, both in developed and developing economies, is expected to drive the demand for beverage packaging, specifically beer bottles and beverage cans, in the coming years. The high demand for flavored alcoholic beverages, wine, soft drinks, and energy drinks is expected to contribute to the sales growth of beverage cans in the beverage packaging market.
Overall, the beverage packaging market is projected to register a compound annual growth rate (CAGR) of 4.1% in terms of value during the forecast period from 2022 to 2032. This growth can be attributed to various factors, including changing consumer preferences, increased focus on convenience, and the popularity of flavored beverages.
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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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