Non-alcoholic Beverage Packaging Market size is estimated to cross USD 94.5 billion by 2032, according to a new research report by Global Market Insights Inc.
The increasing popularity of adult soft drinks among alcohol drinkers is expected to complement the non-alcoholic beverage packaging industry dynamics. A large population of alcohol drinkers are steadily shifting towards alternative drinks, such as non-alcoholic beers and adult soft drinks. The growing awareness regarding the adverse impacts of excessive alcohol consumption has led to the increasing demand for premium soft drinks across bars and pubs.
However, the growing concerns associated with the burgeoning plastic pollution levels is a major restraint in the non-alcoholic beverage packaging market. As per the Organization for Economic Co-operation and Development (OECD), global plastic waste generation is projected to triple by 2060. Several governments worldwide are working towards limiting the overall plastic usage and boosting recycling programs since more than 90% of plastic does not get recycled at present.
Increasing R&D activities in plant-based flexible packaging solutions to drive industry growth
The flexible packaging segment is anticipated to record over 8% CAGR between 2023 and 2032. In the recent past, flexible packaging has gained significant popularity owing to the growing demand for convenient, safe, and portable packaging solutions worldwide. Several food and beverage companies are switching to flexible packaging due to its lightweight nature, ability to guarantee an extended shelf life as well as easy and aesthetic design. Furthermore, recent breakthroughs in plant-based packaging will spur the industry growth.
Browse key industry insights spread across 450 pages with 365 market data tables and 29 figures & charts from the report, “Non-alcoholic Beverage Packaging Market - By Type (Rigid, Flexible), By Material (Plastic, Metal, Glass, Paper), By Packaging Type (Jars, Cans, Cartons, Barrels), By Filling Technology, By Application (Soft Drinks, Juices, Dairy Products) - Global Forecast to 2032” in detail along with the table of contents:
Surging demand for glass-based beverage packaging for superior preservation to push product demand
In terms of revenue, the glass material segment is predicted to reach USD 13.5 billion by 2032. Glass bottles and jars are widely used for the packaging of non-alcoholic beverages since they are impermeable and airtight, and thus help in maintaining the quality of food. Glass also offers good resistance to external environments, thereby effectively preserving beverages. It can also retain the product’s internal temperature while ensuring non-reactiveness to changes in external conditions.
Rising consumption of fruit & vegetable juices to combat vitamin & mineral deficiencies to propel product adoption
Non-alcoholic beverage packaging market valuation from the juices application segment valued at USD 9.5 billion in 2022. The growing number of health-conscious consumers along with the increasing health awareness impelled by the COVID-19 pandemic have accelerated the consumption of nutrient-rich fruit and vegetable juices. With the rising prevalence of nutrient deficiencies among young adults, the demand for fruit juices has increased substantially.
Surging demand for soft drinks to boost APAC market share
Asia Pacific non-alcoholic beverage packaging market will acquire 37% of the market revenue share by 2032 on account of the expanding food and beverage sector in India, China, and Japan. The rapid adoption of packaged and processed food products led by the fast-paced urbanization and the fast-growing working population will foster the lucrative scope for packaging companies in the region. Moreover, the high consumption of soft drinks and the presence of major beverage brands will fuel the demand for packaging technologies. For instance, Coca-Cola India reported approximately 3.8% growth in profit and held around 35% of the industry share in 2022.
Mergers and acquisitions to boost competitive landscape
Sonoco Products Company, Stora Enso Oyj, O-I Glass, Inc., Ball Corporation, Tetra Pak, Mondi PLC, Pactiv Evergreen Inc., International Paper, Verallia, Can Pack Group, Anchor Glass Container, MJS Packaging, Glassnow, C.L. Smith, Silgan Containers LLC, Envases Group, Can Corporation of America, Inc., Radius Packaging, Airlite Plastics Co, Smurfit Kappa, and CCL Industries are some of the leading companies in the global non-alcoholic beverage packaging market. These firms are implementing strategic mergers and collaborations to gain a competitive edge.