According to a new research report by Global Market Insights Inc., the global Alcohol Packaging Market size to reach USD 75 billion by 2028.
Rising beer production has contributed to the alcohol packaging market development. Brewers are focusing on increasing their market share and appeal to their customers. To attract next-generation drinkers, brewers are producing different varieties of beer. The increasing preference for flavored beers by millennials has resulted in brewers adopting new flavors in their beer offerings. Brewers seeking enhanced flavors and aromas are also leading to high beer production. The emergence of innovative brewing technologies further bolsters the production of beer.
The waste generated during the process of alcohol packaging may hamper market growth during the forecast period. Some of the major wastes include spilled alcohol or broken packaging, raw material wastes, and filtration wastes that lead to wastewater & wastewater sludges. Wasteful packaging of alcohol containers makes up the third most abundant component of litter. Litter can cause health hazards to humans. To curb the negative effects on the environment, governments across the world are imposing strict laws.
Browse key industry insights spread across 170 pages with 193 market data tables & 23 figures & charts from the report, “Alcohol Packaging Market Size, By Material (Glass, Metal, Plastic, Paper), By Alcohol (Beer, Wine, Spirits), By Packaging (Primary, Secondary), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
The plastic segment growth will be attributable to its easy designing
The plastic segment is expected to reach around USD 8 billion by the end of 2028. Plastic refers to a wide range of synthetic & semi-synthetic materials that make use of polymers as their main ingredient. Plastic used in alcohol packaging features glass-like clarity, is shatterproof, and offers superior e-commerce performance. Plastic bottles are venue-friendly and provide convenience to customers along with their reclose-able screw caps. Polyethylene Terephthalate (PET) bottles are employed in beer packaging owing to their low weight & sustainability. Boxes made from PET are capable of withstanding wear & tear while taking less space in warehousing & shipping facilities.
Spirits segment to account for a considerable market share
Spirits will account for more than 14% share by the end of forecast period. Spirits are drinks with higher alcohol content compared to other alcoholic beverages. They are produced via distillation and are also referred to as hard liquors. Spirits are distilled from fruits; however, some of them are distilled from grains & sugars. Vodka, tequila, gin, rum, mezcal, and whiskey are some of the common spirits consumed globally.
Rising disposable income levels and lifestyle changes will drive the spirits consumption over the next few years. Increasing adoption ecommerce channels for spirit sales will support the industry growth in future. Increasing popularity of craft spirits across the globe will boost the spirits production in future. Number of distilleries producing spirits has increased exponentially over the last few years.
North America will capture about 13% share by the end of the forecast period. Favorable trends associated with beer and wine production in North America will augment the industry growth. Moreover, healthy competitive environment across industry players will drive the industry growth.
Key players in the alcohol packaging industry include Amcor Plc, Ball Corporation, Beatson Clark, Berry Global Inc., Brick Packaging, LLC., Crown Holdings, Inc., DS Smith, Gerresheimer AG, Mondi Group, Owens Illinois, Smurfit Kappa, TetraPak, Vetreria Etrusca, and Vidrala.