Beverages Carriers Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2535
Global Beverages Carriers Market size is likely to witness a prominent CAGR in the forecast period. Beverages carriers are packaging solution for beverage storage and transportation widely employed in retail industry.
The prime factor responsible for beverages carriers market growth in future is the booming beverage industry across the world. Properties of the product such as light-weight and low oxygen transmission rate is anticipated to fuel product demand among beverage producers. Beverage carriers are used in retail industry to improve brand visibility to consumers. Thus, organized retail stores are increasingly preferring beverages carriers for beverage transport and attracting consumers, which is surely going to have a positive impact in the coming years. Additionally, dairy beverage products are also anticipated to have positive influence on beverage carriers market over the forecast timespan.
The product is extensively used as a packaging solution and augments the brand name and appeal in creating enormous impact in consumer choices for beverage products. On account of various advantages offered by the product such as reduction in transportation cost, it is being substantially considered by wine and alcoholic beverage producers, which in turn, shall increase product demand in the forecast period.
Based on type of product, beverages carriers market can be classified into paper, metal, plastic and wood. Plastic is further classified into linear low density polyethylene (LLDPE), low density polyethylene (LDPE), ethylene vinyl acetate (EVA), ethylene vinyl alcohol (EVOH), polypropylene (PP), polyethylene terephthalate (PET), polyamide (PA), high density polyethylene (HDPE) and polystyrene (PS). Plastic was the most important product segment of beverages carriers in 2016 and shall continue to lead the market over the forecast timespan owing to its mass manufacturing, easy availability in different shapes & sizes, light-weight, user-friendly aesthetics and appeal to attract consumers. Paper segment of the product has caught attention globally in past few years due to its bio-degradability and is gaining popularity among consumers conscious about environment protection.
Based on type of packaging, the overall beverages carriers market can be segmented into rigid and semi-rigid. Rigid packaging involves glass and metal bottles whereas semi-rigid packaging includes tetra cans, PET bottles, etc.
Based on end-users, the global market can be divided into alcoholic, non-alcoholic, energy drinks, soft drinks and drinking water. Drinking water and soft drinks segment held prominent share in global beverages carriers market in 2016 and is anticipated to show similar growth prospects in the coming years. Growing awareness among consumers about safe water consumption has propelled beverages carriers demand over the recent years. Soft drinks is one such application segment that appeals to consumers of all age brackets, from children to senior citizens, leading to more consumption and hence more sales. Furthermore, aggressive marketing tactics adopted by multinational giants for promoting soft drinks at every level possible has increased soft drinks consumption & sales, exponentially over the recent years.
North America held the largest share of global beverages carriers market in 2016 and is likely to lead the market over the forecast duration. This can be attributed to the massive growth of beverage industry in U.S and high per capita income of consumers in this region. Asia Pacific shall witness rapid growth in the market in the coming years owing to the booming non-alcoholic beverages industry especially, in India and China. The European market is likely to witness a healthy growth owing to early adoption of the product by marketers. However, beverages carriers market in Middle East & Africa shall witness moderate gains compared to other regions in the coming years.
The prominent market share contributors operational in beverages carriers market are Optopack Limited, Smurfit Kappa Group, TPS Rental Systems Limited, Zumbiel Packaging, CDF Corporation, Valco Melton and Scholle IPN. Other companies include RTS Packaging, Keystone Paper and Box Company, NEPA Carton & Carriers Company, Parish Manufacturing, WestRock, SCHC, GRIP-PAK and NuPak Printing. Companies are constantly adding products to its product portfolio for retention of existing customers and new customers acquisition.
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