The global market for cluster packaging for beer is anticipated to reach a valuation of US$ 261.7 million in 2022 and continue to grow at a CAGR of 4.8% to reach US$ 418.2 million by the year 2032, according to research from Future Market Insights. The cluster packaging for beer is expected to grow, with the top 5 suppliers controlling 20 to 25% of the market globally in 2021.
Depending on the material, it is anticipated that the paper and paperboard segment will continue to dominate the other materials used to make beer cluster packaging. Convenience and greater product protection are to blame for this. Over 78% of the market’s value is predicted to be held by the paper & paperboard segment.
The cluster packaging for the beer market is expected to earn US$250.2 Million in total revenue in 2021, according to the FMI estimate. The market for cluster packaging for beer is expected to reach US$ 418.2 million by 2032, growing at a CAGR of 4.8% during the forecast period, due to rising end-user demand.
Get a Sample PDF of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-4836
It is anticipated that the cluster packaging for the beer market will increase favorably over the forecast period. According to a recent prediction by FMI, cluster packaging for beer sales is expected to increase from 2022 to 2032, creating an absolute incremental growth opportunity of US$ 168.0 Million.
The significantly changing beverage industry amid the pandemic has increased the demand for convenient cluster packaging for beer. The cluster packaging for beer market is anticipated to expand 1.7 times the current market value during the forecast period.
Category-wise Insights
Which Material is expected to Hold a Major Portion of the Global Cluster packaging for beer Market?
Paper & paperboard is the major segment in the global cluster packaging for beer market. This is because the packaging plays a very effective role in keeping beer fresh and preventing it from external atmospheric repercussions. The paper & paperboard segment of the market is expected to grow significantly over the next decade, accounting for 82% of the total market share by 2032.
Paper and paperboard are commonly used to package beer, as it is lightweight and protect from damage. Paperboard is better than plastic in blocking light. Thus, the benefits such as low cost, efficiency, recyclability, and biodegradability drive the paper & paperboard segment in the global cluster packaging for beer market.
Country-wise insights
How is the Czech Republic’s High Beer Consumption Expected to Drive the Demand for Cluster Packaging for Beer?
Czech Republic’s growing beer industry is expected to drive the demand for cluster packaging for beer and is expected to grow the market at a rate of 4.4% CAGR in the forecast period. The high consumption of beer in the Czech Republic leads to the expansion of the global market for cluster packaging for beer.
According to Czech Beer Alliance the average Czech drinks 191.8 liters of beer per capita. The Czechs have a reputation for being heavy drinkers, and beer is the most popular alcoholic beverage in the country. Czechs consume more beer per capita than any other nation in the world.
Additionally, beer is cheaper than water in the Czech Republic, water is expensive in the Czech Republic because it is a scarce resource. The country has a limited supply of fresh water, and much of the available water is of poor quality. Thus, the Czech Republic’s high beer consumption is expected to drive the demand for cluster packaging for beer during the forecasted period.
Request For TOC@ https://www.futuremarketinsights.com/toc/rep-gb-4836
Why is the USA Considered the Most Attractive Market for the Cluster Packaging for Beer?
FMI analysis states that the USA cluster packaging for beer market is estimated to create an incremental opportunity from 2022 to 2032. The USA cluster packaging for beer is projected to grow 1.5 times the current market value during the forecast period. Consumers in the USA are more inclined toward packed beer. Factors such as the increased shelf life of packaged beer and consumer preference are augmenting the sale of cluster packaging for beer across the country.
According to the data provided by the Brewers Association, total USA beer sales increased by 1% in 2021, whereas craft brewer sales raised by 8%, increasing independent and small brewers’ share of the USA beer market to 13.1%. Craft beer retail store sales are booming, up by 21% to US$ 26.8 Billion last year. This accounts for nearly 27% of the entire USA beer market. The main reason for the bigger increase in dollar sales was the return of beer volume from packed sales in restaurants and bars. Thus, the USA is considered the most attractive market for cluster packaging for beer and is expected to get a boost during the forecast period.
Competitive Landscape
The key players operating in the cluster packaging for beer market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new products to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand. Some of the recent key developments by the leading players are as follows –
In September 2022, the Smurfit Kappa Group acquired PaperBox to expand the company’s presence in Brazil.
In August 2022, WestRock Company entered into a joint partnership with Budejovický Budvar and Mattoni 1873 and delivered its flexible and efficient Cluster-Pak® EvoTech™ packaging solution.
Ask An Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-4836
Cluster Packaging for Beer Market by Category
By Material, Cluster Packaging for Beer Market is Segmented as:
Paper & Paperboard
Plastic
By Application, Cluster Packaging for Beer Market is Segmented as:
Bottles
Cans
By Packaging Style, Cluster Packaging for Beer Market is Segmented as:
Neck-through Style
Over the Top style
Handle based style
Cluster Sleeve Style
By Region, Cluster Packaging for Beer Market is Segmented as:
North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa
Oceania
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
