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 beverage packaging market refers to the industry involved in designing, manufacturing, and distributing packaging solutions for various beverages, including carbonated drinks, juices, water, sports drinks, and alcoholic beverages. It encompasses a wide range of materials, such as glass, plastic, metal, and paperboard, each offering unique advantages and characteristics.
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., B
- all 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 Trends
The Beverage Packaging Market is constantly evolving, driven by changing consumer preferences, technological advancements, and sustainability concerns. Here are some notable trends shaping the industry:
1. Eco-Friendly Packaging
As consumers become more environmentally conscious, there is a growing demand for eco-friendly beverage packaging solutions. Companies are increasingly adopting sustainable materials, such as biodegradable plastics, plant-based polymers, and recyclable packaging, to reduce their carbon footprint and appeal to eco-conscious consumers.
2. Innovative Designs
To stand out in a competitive market, beverage brands are focusing on innovative packaging designs. Unique shapes, vibrant colors, and interactive features are being incorporated to enhance consumer engagement and create memorable experiences.
3. Convenience and Portability
With the fast-paced lifestyle of modern consumers, convenience and portability have become essential factors in beverage packaging. Packaging formats like cans, pouches, and single-serve bottles provide ease of use, on-the-go consumption, and portion control.
4. Smart Packaging
Advancements in technology have paved the way for smart packaging solutions in the beverage industry. Smart labels, QR codes, and near-field communication (NFC) enable consumers to access product information, promotional offers, and even track the freshness and authenticity of beverages.
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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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.
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