Global Beverage Packaging Market Size, Share Growth Report |
Posted: July 7, 2023 |
The global beverage packaging market size is projected to grow from $148.1 billion in 2021 to $189.0 billion by 2026, at a CAGR of 5.0%. Beverage packaging helps in protecting the beverages and extend its shelf-life. It further acts as an effective tool for marketing and attracting the attention of consumers. The increase in the consumption of non-alcoholic and dairy beverages is projected to be some of the major drivers for the growth of the global beverage packaging market. There has been several innovations and development in the packaging designs and packaging technology over the last five years in the global beverage packaging market. The increase in demand for products made from biodegradable and renewable raw material presents lucrative opportunities for the players in the market. The rise in consumption in emerging economies is encouraging the growth of the market. Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1222 On the basis of the regional area, the market is segmented into North America, Europe, Asia Pacific, South America, and Rest of World (RoW). Due to the increase in population and rise in disposable income, Asia Pacific is projected to account for the largest share during the review period. Global players such as Ball Corporation (US) and Crown Holdings Inc (US) are entering the Asia Pacific market by developing new manufacturing plants in the region. Rapid industrialization and urbanization, increase in environmental concerns, rise in disposable income of growing middle class, and lower production of fresh food & beverage products are factors propelling the usage of processed food & beverage products, consequently fueling the demand for beverage packaging market in this sector. This report includes a study on the marketing and development strategies, along with a survey of the product portfolios of the leading companies operating in the beverage packaging market. It includes the profiles of leading companies, such as Amcor Group GmbH (Switzerland), O-I Glass, Inc. (US), Crown Holdings, Inc (US), Ardagh Group S.A. (Ireland), Verallia SA (France), Tetra Pak Group (Switzerland), Ball Corporation (US), Vidrala S.A. (Spain), Toyo Seikan Group Holdings, Ltd. (Japan), and CPMC Holdings Limited (China), among others. The resilience and convenience offered by metal packaging are encouraging the growth of the segment. The metal used for beverages can be aluminum or steel. In the case of non-alcoholic beverages, both are used for packaging. The chemical compatibility of the product and packaging material type is critical to the quality of the product. Aluminum and steel are inert in terms of reactivity with non-alcoholic beverages; hence, the most suited material type for their packaging. Metal cans are also used for beer packaging. Can packaging for beer is growing as it has advantages over a glass of eliminating the damage from light and oxidation and keeping the beer fresh for a longer duration. Metal cans and bottles are the popular ways in which beverages are served to customers. Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1222 Dairy beverages occupy a significant space in the global beverage market and the growing segment of the global beverage market. Dairy drinks are considered ideal as they provide a natural nutritional base to consumers. However, the market for dairy-based beverages remains small, but the demand for these products is expected to witness robust growth in the near future. Packaging plays a vital role in dairy beverages, as it adds value to the brand and attracts the customer. Dairy processors and packaging companies are continuously challenged to create more eco-friendly products that offer convenience to consumers and enable product differentiation to brand owners. These factors are anticipated to propel the growth of the global beverage packaging market, during the review period.
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