Global Beverage Packaging Market Outlook to 2027

Global Beverage Packaging Market Outlook to 2027

The report provides a comprehensive analysis of the potential of Global Beverage Packaging Industry. The report covers an overview and genesis of the industry, market size in terms of number of beverage packages sold.

Its market segmentations include byPackaging Material, Beverage Type, Application and by region; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. the report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, due to the impact of COVID-19, there has been supply chain disruptions, unavailability of materials used in the manufacturing process, labor shortages, fluctuating prices, and inflation in production costs. The Global Beverage Packaging Market is currently at $ 140 Bn and expected to exceed $ 190 Bn by 2027.
The increasing global population and rising disposable income in developing economies are creating new avenues for packaged beverages. According to the Brewers Association, the total value of the beer market was USD 94.1 billion in 2020, whereas the total craft beer market was estimated at USD 22.2 billion.
The increase in the utilization of shipping containers drives the market. Thus, companies have been collaborating to offer new and innovative products as per the customers' requirements.

Key Trends by Market Segment:

By Application: According to Food Dive, 67% of customers globally believe it is critical that the items they buy come in recyclable packaging, with 54% indicating it is a factor they consider when purchasing. The most used industrial packaging for food and beverage industries are drums, IBCs, corrugated boxes, pallets, and sacks.

By Region: Asia Pacific is one of the emerging regions for the beverage packaging market. Countries such as China, India, Japan, Thailand, Indonesia, Australia, and New Zealand are considered for the purpose of the study. Therefore, the growth of the market is expected to be high in this region. Many types of packaging are preferred in the region, such as flexible, rigid plastic, paper, glass, and metal packaging.

Competitive Landscape

The Global Beverage Packaging Market remains highly fragmented, with numerous international, regional, and local vendors. Local manufacturers of beverage packaging products cater to unique, innovative solutions at a price lower as compared to the international vendors, resulting in an intense price battle. The market consists of players like Amcor Group GmbH, O-I Glass, Inc., Crown Holdings, Inc, Ardagh Group, Verallia SA, Tetra Pak Group, Ball Corporation etc.

Future Outlook

In line with the changing demand for sustainable and recyclable beverage packaging products, companies have been launching new and innovative products in the market. The present incarnation of package design and corporate responsibility, as well as the near future, are defined by sustainability. Sustainable packaging is emerging to be an excellent investment as well as a healthier choice for the environment. Concerns over the safe handling and recycling of packaging materials have prompted the implementation of new policies and legislation requiring businesses to recover their packaging materials.

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