Beverage Packaging Market Forecasts to 2028 – Global Analysis By Product (Pouches, Cans, Bottles, Cartons and Other Products), Material (Glass, Plastic, Paperboard, Metal and Other Materials), Application and By Geography
According to Stratistics MRC, the Global Beverage Packaging Market is accounted for $158.46 billion in 2022 and is expected to reach $237.81 billion by 2028 growing at a CAGR of 7.0% during the forecast period. Beverage packaging is used to store, preserve, and transport beverages without altering their taste or quality. It entails the use of various materials, such as metal, glass, plastic, and paperboard, to assist avoids spillage and preserves the quality of the drink. Carbonated energy drinks, milk, bottled water, alcohol, and fruit and vegetable juices are some of the most popular beverages. Aside from that, beverage packaging protects the content from moisture and heat, allows for simple mobility, retains aroma, and prevents contamination and loss of key nutrients.
According to a study published in the Lancet journal, alcohol consumption in India increased by 38% from 4.3 to 5.9 liters per capita during 2010 - 2017.
Market Dynamics
Driver:
Ease & flexibility in transportation offered by different packaging solutions
By designing smart packaging solutions to maximise carrier space and move items efficiently without harm, ease of transportation has always been a priority. Instead of shipping beverages in bulk capacity containers such as drums, single-serve packaging solutions make it easier for customers as well as beverage manufacturers to transport and preserve their products ready to enjoy. As a result, the ease and flexibility in transportation provided by various beverage packaging solutions drives market growth.
Restraint
Stringent environmental legislation
Packaging waste is harmful to the environment since it takes decades to degrade. Governments around the world are tackling this issue by implementing tough standards that the beverage packaging sector must follow. For instance, governments in Europe take a number of measures to address recycling and packaging waste issues. 'European Parliament and Council Directive 94/62/EC of 20 December 1994 on Packaging and Packaging Waste' is one example of European Commission regulation. This directive includes efforts to reduce packaging waste generation while also encouraging recycling, reuse, and other types of waste recovery.
Opportunity
Increasing use of biodegradable and renewable raw materials
The growing consumer awareness of environmental safety and the increasing acceptance of eco-friendly products present enormous prospects for beverage packaging product makers. According to a National Retail Federation study, 69% of North American participants are willing to pay a premium for recycled products, while 80% want to know the origin of the products they buy. Bioplastics are polymers made from renewable materials such as corn starch, wood chips, vegetables, and fatty oils.
Threat
High cost of sustainable packaging
Customers demand sustainable beverage packaging that addresses the health and environmental concerns associated with the usage of synthetic polymers. Beverage packaging firms use their available resources to assure product quality and safety, however the sustainability aspect raises the overall cost of production and consequently affects overall profitability. The rising cost of final packaging may have an impact on sales. As a result, this two-way problem forces businesses to identify a middle road that balances various aspects of sustainability and cost management.
Covid-19 Impact
The COVID-19 pandemic spreads all over the world and increases the number of deaths and long-term health impacts. To overcome this, government-imposed full or partial lockdowns that impact all aspects of the economy. Due to spread of Covid-19, there has been a huge impact on the food supply chain. Due to growing number of deaths, the government had imposed strict regulations and lockdown which affected a lot of economies. The government also developed various policies for these impacts to avoid supply chain disruptions, higher prices for raw materials, and severe economic fallout for employees.
The cartons segment is expected to be the largest during the forecast period
The cartons segment is estimated to have a lucrative growth. Cartons are largely comprised of paperboard, with a thin layer of aluminium and plastic added to help preserve beverages for an extended amount of time. Cartons are in high demand for milk, juice, and other non-alcoholic beverage packaging because they retain the food without the need for a significant amount of preservatives. This packaging allows perishable beverages to be transported to regions without refrigeration or other methods of preservation.
The plastic segment is expected to have the highest CAGR during the forecast period
The plastic segment is anticipated to witness the fastest CAGR growth during the forecast period. The market is experiencing an increase in interest in environmentally friendly and water-soluble plastics. Furthermore, customers are increasingly turning to recycled plastics these days. Increasing environmental awareness is one of the primary elements driving the adoption of recycled plastics for beverage packaging. Plastic packaging has advantages such as container variety, less raw material required, ease of disposal, and lightweight.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period. The expansion of beverage packaging is mostly linked to the region's expanding need for plastic packaging due to low cost and growing end-user industries. Because of cheap pricing and thriving end-user sectors such as RTD juices, tea and coffee, and bottled water, beverage cans and bottles manufactured of PET are in high demand in the region. The region also has enormous potential due to increased demand for beverage packaging from emerging nations like India and China.
Region with highest CAGR
North America is projected to have the highest CAGR over the forecast period. The solid manufacturing base of major companies such as Tyson Foods Inc., PepsiCo Inc., Nestle, Coca-Cola Company, Kraft Heinz Co., JBS USA, and Anheuser-Busch InBev in the United States is expected to boost demand for plastic packaging. Furthermore, the rapid expansion of the beverage business in North America as a result of consumers' 'on-the-go' lifestyle is expected to boost regional market growth in the future years.
Key players in the market
Some of the key players profiled in the Beverage Packaging Market include Stora Enso Oyj, Amcor plc, Ball Corporation, Tetra Laval International S.A., Crown Holdings, Inc, Smurfit Kappa Group plc, Mondi plc, Reynolds Group Holdings Limited, Orora Limited, SIG Combibloc Group AG, Toyo Seikan, Ball Corporation, Berry Global Group, Inc, Saint Gobain, Ardagh Group and WestPack.
Key Developments
In March 2021, Ardagh Group S.A. and Bragg Live Food Products partnered to introduce a new 16oz glass bottle for its line of apple cider vinegar beverages.
In December 2020, Amcor Group GmbH commenced a new venture with Nutrea to deliver its rupro protein juice in a hot-fill (PET) bottle. The new orange juice from Nutrea/Frudelca was available in recyclable bottles in 300ml and 440ml sizes. Amcor was regarded as a critical partner in delivering an innovative packaging solution that met the performance requirements of this new functional venture.
Products Covered:
• Pouches
• Cans
• Bottles
• Cartons
• Other Products
Materials Covered:
• Glass
• Plastic
• Paperboard
• Metal
• Other Materials
Raw Materials Covered:
• Non-Alcoholic Beverages
• Alcoholic Beverages
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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