The global alcohol packaging market is with a projected value of $47,225.2 million in 2022 and a projected growth rate of 3.9% CAGR, is well-positioned to demonstrate notable progress. By 2032, the market is projected to be valued at $69,235.6 million. The main driver driving the expansion of the alcohol packaging sector is the rising demand and consumption of alcoholic beverages worldwide.
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Growth Drivers:
- Premiumization and Branding: Investment in unique and eye-catching packaging alternatives has increased as a result of the growing demand for upscale and artisanal beverages. Luxurious packaging enhances brand perception and attracts consumers searching for unique and exceptional products.
- E-commerce Expansion: The growth of online retail channels for alcohol sales has necessitated packaging solutions that ensure product safety during transportation. Packaging designs that are not only attractive but also protective play a crucial role in meeting the requirements of e-commerce distribution.
- Sustainability and Eco-friendly Packaging: Increasing awareness of environmental concerns has driven the alcohol industry towards sustainable packaging solutions. Consumers are showing a preference for eco-friendly materials, leading to the adoption of recyclable, biodegradable, and reusable packaging options.
- Innovative Materials and Technologies: Advancements in packaging materials and technologies, such as smart packaging and augmented reality features, are driving growth. These innovations not only offer a unique consumer experience but also contribute to the overall functionality and efficiency of the packaging.
- Regulatory Compliance and Safety: Stringent regulations related to alcohol packaging, including labeling and safety standards, are pushing manufacturers to invest in compliant packaging solutions. Meeting regulatory requirements ensures the safe consumption of alcoholic beverages and maintains consumer trust.
Industry Trends:
- Digital Printing: The adoption of digital printing technology in alcohol packaging is on the rise. It allows for more flexible and personalized designs, shorter production runs, and quicker turnaround times, catering to the growing demand for customized and limited-edition products.
- Lightweight Packaging: The trend towards lightweight packaging continues, driven by sustainability goals and cost-efficiency. Lighter materials reduce the environmental impact, transportation costs, and contribute to the overall eco-friendly profile of alcohol packaging.
- Rise of Alternative Formats: Beyond traditional glass bottles, alternative packaging formats such as cans, pouches, and Tetra Paks are gaining popularity. These formats offer convenience, portability, and are often perceived as more modern and casual options by consumers.
- Interactive Packaging: Brands are exploring interactive packaging solutions, incorporating QR codes, NFC tags, or augmented reality elements to engage consumers. This trend enhances the consumer experience by providing additional information, promotions, or entertainment through the packaging itself.
- Health-Conscious Packaging: With a growing emphasis on health and wellness, there is an emerging trend in alcohol packaging that communicates nutritional information, ingredient transparency, and wellness attributes. Packaging designs that align with health-conscious consumer preferences are gaining traction in the market.
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Drivers & Restraints:
Growth in disposable income across the globe coupled with further spending on recreational activities is some of the key influencing factors that collectively lead to a growth of the alcohol consumption, which sequentially fuels the growth of the global alcoholic beverages packaging market over the forecast period. Over the years, growing awareness amongst the brand manufacturers about differentiating their alcoholic products based on packaging also contributing to the growth of the alcoholic beverages packaging market. Besides, rising consumer demands for easy to open, convenient packaging format for alcoholic beverages also drives the growth in the alcoholic beverages packaging market.
However, the implementation of stringent regulations on packaging materials used for alcoholic beverages could hinder the growth of the global alcoholic beverages packaging market over the forecast period. Also, growing awareness amongst the younger generations about the adverse effect of alcohol consumption could ultimately hamper the growth of alcohol beverages packaging market.
Key Companies Profiled
- Mondi
- Amcor plc.
- Crown
- Ardagh Group S.A.
- Diageo PLC
- BALL CORPORATION
- Berry Global Inc.
- Tetra Pak Group
- Saint-Gobain Group.
- O-I Glass, Inc.
- Vetreria Etrusca
- Encore Glass
- Orora Packaging Australia Pvt Ltd
- Creative Glass
- Brick Packaging
- Bemis Manufacturing Company, Nampak Ltd.
- Krones AG
- Sidel Group
- Sonoco Products Company
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Market Segmentation:
Based on the material used
- Metal
- Glass
- Plastic
- Paper
- Others (wood, etc.)
Based on product type
- Cans
- Kegs
- Bottles
- Jars
- Others
Based on alcoholic beverages
- Undistilled fermented beverages
- Beer
- Wines
- Cider
- Distilled drinks
- Vodka
- Tequila
- Rum
- Whisky
- Gin
- Others
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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