Beverage Cartons Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Beverage Cartons Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Beverage Cartons Market

The beverage cartons market size was valued at USD 16.51 billion in 2020, and the market is now projected to grow from USD 16.77 billion in 2021 to USD 22.44 billion by 2028, exhibiting a CAGR of 4.2% during the forecast period of 2021-2028.

Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the beverage cartons market growth. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. Stopped providing on-site maintenance and installations market growth sputtered amid the pandemic. Production facilities throughout the nations have been hindered by the abrupt lockdown. The epidemic has also had a negative impact on facial recognition door lock manufacturing and production facilities. The disruption in the supply chain and the decreased availability of labor, staff, and resources are the causes of this. As a result, the market's growth rate has decreased.

Increasing packaged dairy product consumption to support market growth during forecast period. But as the pandemic has accelerated in recent years, individuals are reverting to traditional shopping practices, which has led to a greater consumption of milk and milk products. According to a Midwest Farm study, the demand for milk increased by 45 million gallons in the two peak weeks of March 2020, matching its one-year fall in the previous year, following the pandemic. Growing Use of Smart Technologies to Accelerate Market Development during forecast period. With businesses incorporating technology like artificial intelligence, machine learning, artificial neural networks, and source tracking systems into their products, the packaging sector is undergoing a digital transformation. They can put together better items, help generate consumer data, support the goal of attracting customers, monitor supply chain flaws, and increase their profit margins with the aid of these technologies. The beverage packaging industry, especially the carton vertical, has also been affected by this trend.

Emerging economies' growing need for convenient packaging will fuel growth during forecast period. Due to their vast populations, developing nations in Asia Pacific and Latin America are seeing a sharp increase in demand for packaging items that improve convenience. Additionally, these packets are readily available in supermarkets and hypermarkets as well as physical retail stores, making them simple to obtain. During the industry forecast period, this is anticipated to support the expansion of the global beverage carton market. Consumer confidence has also increased as a result of marketing initiatives introduced by the manufacturers and businesses using these boxes. For example, Tetra Pak's beverage cartons were used to introduce milk and milkshake products by Amul, one of India's top dairy associations. Tetra Packs, which aid in convenient transportation and long shelf life, were the marketing name for these packaging. Tetra packs become synonymous with beverage cartons in the nation as a result of this factor.

Comprehensive Analysis of Beverage Cartons Market

The beverage cartons market and packaging industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the packaging benefit management industry. These segmentations are methodically segregated by types and by application. The types of devices include, By Type segmentations include Refrigerated Carton, Shelf-Stable Carton, By Application segmentations include Fruit & Vegetable Juices, Dairy Products, and Others.

The Asia Pacific region lead the beverage cartons market by benefitting a market size of USD 5.70 billion in 2020 due to increasing packaged dairy product consumption and emerging economies' growing need for convenient packaging.

The top players in the market play a crucial role in the packaging industry assuring industrial prospectus growth and setting market standards. These prominent key industry players include, Tetra Pak (Switzerland), Elopak (Norway), Sig Combibloc Group Ltd. (Switzerland), Mondi Group (UK), Westrock Company (U.S.), Visy (Australia), Stora Enso (Finland), Pactiv Evergreen (U.S.), IPI S.r.l. (Italy), Greatview Aseptic Packaging Co. Ltd. (China), Other Key Players these market players provide a level-playing competitive landscape.

In November 2020, Together with Stora Enso, Tetra Pak investigated the feasibility of constructing a new recycling line in order to greatly boost the recycling of old beverage cartons in Central and Eastern Europe.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2017-2028

Base Year

2020

Forecast Period

2021-2028

Historical Period

2017-2019

Unit

Value (USD Billion)

Segmentation

By Type, By Application, and By Geography

By Type

Refrigerated Cartons

Shelf-Stable Cartons

By Application

Fruit & Vegetable Juices

Dairy Products

Others

By Geography

North America (By Type, By Application, By Country)

• The U.S.
• Canada

Europe (By Type, By Application, By Country)

• Germany
• France
• UK
• Italy
• Spain
• Rest of Europe

Asia Pacific (By Type, By Application, By Country)

• China
• India
• Japan
• Rest of Asia Pacific

Latin America (By Type, By Application, By Country)

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa (By Type, By Application, By Country)

• GCC
• Rest of the Middle East & Africa

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