Beverage Packaging Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3820
Beverage Packaging Market size is set to expand at healthy CAGR to 2025 as rising disposable income along with increasing employability has catapulted the demand of convenience food & beverages products in emerging economies. A shift in consumer preferences towards beverages with longer shell life has enforced the beverage industry to provide a sustainable and convenient packaging solutions reducing the storage cost. This act as a factor contributing towards beverage packaging market growth. In order to meet up preferences of consumers and to provide them beverages of superior quality packaging companies are developing products that are durable, provide thermal insulation and barrier for moisture.
Asia Pacific constitute almost 60% of world’s population and with rising urbanization, consumer spending in countries such as China, India, Malaysia, Thailand are rising. The growth of beverage industry is complemented with such trends. The global beverage industry has witnessed a shift in consumer beverage consumption. Carbonated drinks were the major beverages from a long time but with increasing awareness about health-related problems from drinks containing sugar consumers are shifting towards functional beverages and bottled waters. According to International Bottle Water Association, in U.S. bottled water is the number one beverage product in terms of volume. This shift is clearly visible by fact that all major beverage companies such as Nestlé, Coca-Cola and, PepsiCo are now present in bottled water segment. This has increased the demand of plastic based beverage packaging market over the forecast timeframe.
Beverage packaging products are made from various materials and the major ones are plastic, glass, metal and others. The others include pallet plastics films, wooden containers, etc. Glass is the major beverage packaging material. This is used for making bottles, glass for both alcoholic and non-alcoholic beverages. Plastic also holds significant share in the beverage packaging market as these are used for majorly consumed carbonated drinks and water. Although rising environmental concerns has increased the demand of eco-friendly plastics and manufacturers are majorly shifting towards providing such solutions.
Based on product type the beverage packaging market is segmented into can, pouch, carton, bottle & jars and others. Glass is the major beverage packing material and these are used in form of jars and bottles. Their major application is in alcoholic beverages and some application is also observed in milk, milkshakes, juices and others. The glass related packaging products are easy to use as they can be cleaned easily and have an excellent aesthetic look, due to all these factors glass-based beverage packaging market adoption is increasing. Cartons will also show decent growth rate as these are used for preserving beverages for longer shelf life. Cartons are made up from thin layer of paperboard, plastic and aluminum. Increasing cattle inventory and consumption of dairy products in countries such as India will escalate the demand of cartons as these are used for packaging milk. These are also used in packaging juices as they help in conserving them for longer period reducing the amount of preservatives to be added in them.
In terms of application, the beverage packaging market is segmented into alcoholic and non-alcoholic beverages. The alcoholic beverages include whiskey, rum, beer, vodka and other spirits. The packaging of non-alcoholic beverages should be such that it will be help in increasing shelf life of product. Changing customer preferences has forced manufacturers to provide sustainable solutions hence, the usage of light weight, recyclable and reusable packaging products is increasing all across the globe.
Asia Pacific is expected to hold considerable share in the overall beverage packaging market. Demand of beverage bottles made from plastics such as PET is expected to remain high in region, owing to thriving end user industries such as bottled water, ready to drink (RTD) juices, etc. coupled with its low cost. North America is expected to show robust growth rate over forecast time period sue to extensive presence of major beverage leaders such as Coca Cola, PepsiCo, Kraft Heinz Co., etc. in region.
Some of the prominent players in beverage packaging market are Sonoco Products Company, Amcor Ltd., Alcoa Corporation, Mondi PLC., Bemis Company, Inc., Reynolds Group, Tetra Laval International, Crown Holdings, Ball Corporation, etc.
Beverage Packaging Market, By Material, 2014-2025 (USD Million)
Beverage Packaging Market, By Product, 2014-2025 (USD Million)
- Bottle & jars
Beverage Packaging Market, By Application, 2014-2025 (USD Million)
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Sonoco Products Company
- Amcor Ltd.
- Alcoa Corporation
- Mondi Plc.
- Reynolds Group
- Crown Holdings
- Tetra Laval
- Ball Corporation
- Bemis Company
- Saint Gobain S.A.
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