The Beverage Packaging Market size is poised to reach over US$ 190 Bn by 2026 and growing at a CAGR of around 5.2% during the forecast period 2019 to 2026
LOS ANGELES, Feb. 04, 2020 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, a global provider of market research studies, in a latest published report titled “Beverage Packaging Market (By Type: Rigid, Semi Rigid, Flexible; By Material: Paper, Metal, Plastic, Glass; By Product: Cans, Bottles, Pouch, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”.
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Market Drivers and Challenges
Changing consumer preferences lead to increased use of packaging materials to improve resistance, product preservation, heat insulation, sealing, and barriers to moisture free. The high market for small packs is giving the demand for lightweight bags and pouches a strong boost. To help the industry gain substantial traction, the introduction of successful and intelligent technologies into the labeling of beverages is also contributing to the market growth. In addition, strict environmental regulations are however one of the major limiting factors for the beverage packaging market. Nonetheless, in order to be competitive on the markets, some key players invest in technological advances and also find new product-related prospects.
In contrast, rising concerns about obesity and high intake of sugar, lead many governments to implement strategies for plain packaging. The plain packaging applies to unattractive colors and images to reduce the consumption of unhealthy drinks such as soft drinks, alcohols, and sugar drinks. It is predicted that plain packaging would hamper the beverage packaging industry and thereby hinder its growth during the forecast period.
Regional Outlook
Asia Pacific held the prime share in 2018 and anticipated to continue its dominance amid the forecast period. Because of low costs and booming end-user industries such as RTD (Ready to Drink) drinks, tea & coffee, bottled water, PET soda cans and bottles are experiencing huge demand in the region. The field still holds immense potential as a result of rising demand for soda packaging from emerging economies like India and China. Rising disposable incomes and a fast-paced lifestyle coupled with easy access to retail outlets are other factors which lead more consumers to opt for packaged drinks, especially in developing countries such as India.
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About the Market
Beverage packaging products are made from a variety of materials, including plastic, glass, metal and others. The others include films made from pallet plastics, wooden tubes, etc. Glass is the primary wrapping medium for drinks. This is used to make both alcoholic and non-alcoholic drinks with glasses. Plastic also has a substantial share in the beverage packaging market, as these are used for largely consumed carbonated beverages and water. Despite rising environmental concerns, demand for eco-friendly plastics has risen, and producers are moving dramatically into offering such solutions.
The increase in sugar syrup tax has contributed to a decline in carbonated beverage intake and catapulted competition for bottled water on the beverage packaging market. It is predicted that this trend will continue over the forecast period, with more consumers opting for bottled water, especially from middle-income households. Thus, market players can gain lucrative opportunities by focusing on the beverage packaging market segment of bottled water.
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Key Players & Strategies
Beverage maker focus on offering an better products with the easy-to-handle environment friendly packaging that holds the beverage fresh for a long time. Innovation in packaging is becoming a standard for soda companies with smaller package sizes, styles of dynamic products and multipackages. Different product types are packaged using different materials, depending on the beverages.
Distribution systems are changing, in a cost-effective way contributing to greater market penetration. Installing automated vending machines, process automation, robotics production, franchising, and licensing help this volume-driven industry achieve high sales, and overall productivity and progress.
Players profiled in the report are Crown Holdings, Inc., Amcor plc, SIG Combibloc Group AG, Ball Corporation, Orora Limited, Mondi plc, Reynolds Group Holdings Limited, and Others.
In 2019, Amcor has developed new collection of polyethylene terephthalate (PET) bottles for the Brazilian Age craft beer company Salzburg. The new bottle offers a shelf life of four months and offers 100 percent recycling in the presented recycling methods. The bottle has a glass-like look and a metal crown to make it more attractive to clients.
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