Beverage Packaging Market – Sales, Ex-factory Price, Revenue, Gross Margin Analysis
Thursday, February 13, 2020
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The global beverage packaging market size is expected to reach $133.3 billion in 2026, from $86.1 billion in 2018, growing at a CAGR of 5.6% from 2019 to 2026. The packaging of beverages is a complex process and the diversification of beverages such as alcoholic or non-alcoholic, requires different materials and containers.
The beverage packaging can be manufactured using glass, metal, plastic, paperboard and their combinations to preserve the beverage before it reaches the customer. However, the analysis of the beverage type is necessary to determine the material of packaging, which in turn, enhances and preserves the quality of the beverage and assists in increasing its shelf life. The beverages are majorly classified as alcoholic and non-alcoholic, wherein the products are largely diversified according to their chemical constitutions.
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The constant product developments enable the manufacturers to produce more convenient packaging, which provides ease of handling to the customers and also helps them manufacture light weight products. This attracts the customers and boosts the overall sales of the beverage, thereby, driving the market of beverage packaging. Moreover, the increased consumption of bottled water, owing to the declining standards of tap water for drinking, is propelling the market growth of beverage packaging industry as well.
Furthermore, the rise in adoption of automation and internet of things (IoT) is fueling the market by enhancing the production processes thereby, growing the beverage packaging market size. On the contrary, the implementation of plain packaging for alcoholic and sugary beverages is projected to restrain the beverage packaging market growth during the forecast period.
The global beverage packaging market is segmented on the basis of packaging material, beverage type, packaging type and region. By packaging material, it is divided into glass, metals, plastic and paperboard. The plastic segment is anticipated to dominate the global beverage packaging market in the future, owing to its growing adoption as an alternative to plastic.
By beverage type, it is classified into alcoholic and non-alcoholic beverages. The non-alcoholic beverages segment is projected to dominate the global beverage packaging market during the forecast period. By packaging type, the market is classified into bottles, cans, cartons, and others. The others segment includes pouches and bag-in-box type of packaging. The bottles segment has the highest contribution to the total beverage packaging market share.
The global beverage packaging market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Russia and rest of Europe), Asia-Pacific (China, India, Australia, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to hold the largest market share throughout the study period and LAMEA is expected to grow at the fastest rate, based on the beverage packaging market analysis.
The key market players profiled in the report include Amcor plc, Ball Corporation, Crown Holdings, Inc, Mondi plc, Orora Limited, Reynolds Group Holdings Limited, SIG Combibloc Group AG, Smurfit Kappa Group plc, Stora Enso Oyj, and Tetra Laval International S.A.
Many competitors in the beverage packaging market adopted product launch as their key developmental strategy to expand their product portfolio of recyclable beverage packages. For instance, in July 2019, the company SIG launched SIGNATURE PACK 100 in France. The SIGNATURE PACK 100 is an aseptic carton that is aluminum free and is made with plant-based and 100% biodegradable polymers.
Similarly, in August 2019, Amcor developed new range of polyethylene terephthalate (PET) bottles for the Age’s Salzburg craft beer brand in Brazil. The new bottle provides 4 months shelf life and provides 100% recycling in the existing recycling techniques. The bottle features a glass-like look and has a metal crown, which makes it more attractive to the customers.
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GLOBAL BEVERAGE PACKAGING MARKET SEGMENTS
BY BEVERAGE TYPE
By PACKAGING TYPE
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