The Future of Beverage Packaging Market Economy Size Expected a Growth of $ 190 Billion by 2028; According to Vantage Market Research

WASHINGTON, Dec. 14, 2021 (GLOBE NEWSWIRE) -- According to the latest research study, the demand of global Beverage Packaging Market size & share expected to reach to USD 190 Billion by 2028 from USD 140 Billion in 2020, at a compound annual growth rate (CAGR) of 5.1% during the forecast period 2021 to 2028      

This is attributable to the increasing demand for convenient and sustainable packaging for beverages and rise in innovative packaging that increases product appeal. Moreover, increasing use of biodegradable and renewable raw materials is likely to create immense opportunities for Beverage Packaging Market, states Vantage Market Research, in a report, titled “Beverage Packaging Market Size, Share & COVID-19 Impact Analysis, by Packaging Type (Bottle, Can, Carton, Pouch, and Others), Material Type (Metal, Plastic, Glass, Paper & paperboard, and Others), and Application (Alcoholic Beverages, Non-alcoholic Beverages, and Dairy Beverages) by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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• In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.
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(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)

Market Overview:

Rising Beverage Consumption to Stimulate Beverage Packaging Market

The increasing consumption of various types of beverages along with the introduction of healthy and nutritious beverages is anticipated to augment the growth of the Beverage Packaging Market during the forecast period. Health and wellness are currently on high value hierarchy of the consumers as compared to before. Many consumers specifically millennials are now becoming more experimental and try the new healthier options and drinks that incorporate essential ingredients, such as vitamins and nutrients owing to the increasing health consciousness among them. This demand is compelling the manufacturers to come up with more innovative and eco-friendly packaging solutions as well in order to attract more consumers and increase their sales and expand their business. Furthermore, the increase in consumption of alcoholic beverages is also expected to support the growth of the market. This is attributable to the increase in young population and the growing socializing across the globe along with the increase in number of varieties available in bars, pubs, and breweries that are serving these beverages. The alcoholic beverages packaging is mainly done in a way that it protects alcohol and also improves and enhances its shelf life. The alcoholic beverages packaging also plays an important role in the promotion of the brand of alcohols.

Rising Demand for Convenient and Sustainable Packaging to Support the Growth of the Market

The increasing demand for sustainable and eco-friendly packaging solutions has witnessed significant growth in the past few ages. The sustainable packaging solutions allow manufacturers in weight reduction of the packaged products and facilitate reuse and recycle. Plastic is the most preferred packaging solution adopted by global beverage manufacturers since it reduces manufacturing, durability, and logistics costs. According to EPA, three million tons of plastic was recycled in 2018. In addition, the increasing use of polyethylene terephthalate (PET) in beer bottles is also expected to support the growth of the market during the forecast period. Furthermore, the changing beverages consumption pattern has also resulted in substantial growth market over the past few years. This is owing to the rise in disposable income of the consumers, economic liberalization, rapid growth in trade and production of beverages due to the growing preference for variety and healthy beverages across the globe.

COVID-19 Impact:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

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Important questions answered in this report:

• What is the estimated market size and growth rate of the Beverage Packaging Market?
• Which segments are included in the Beverage Packaging Market?
• Which top companies are active in the Beverage Packaging Market?
• What are the major driving factors for the growth of the Beverage Packaging Market?
• How can I get free sample reports or study of Beverage Packaging Market?
  

The report on Beverage Packaging Market highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Global and Regional Dynamics
  

Advantages of this Research:

• Evaluate market share for commercial Beverage Packaging market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.
• Develop tactics and strategies to take advantage of opportunities in the Beverage Packaging market.
• Latest Trends and Market Events and analyze essential events in Beverage Packaging market.   
• Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.
• Answer vital business questions; supports decision making in R&D to long term marketing strategies
• Develop economic models, forecast models, and healthcare frameworks.

Regional Analysis:

Asia Pacific is Likely to Dominate the Global Beverage Packaging Market

Asia Pacific is projected to dominate the global Beverage Packaging Market with 32.81% of the share of the total market in 2020 and is likely to continue the same trend during the forecast period. This is attributable to the increasing demand of the plastic packaging in the region due to low costs and increasing end-user industries in the region. Furthermore, the rising demand for beverage packaging and increase in the purchasing power of consumers in emerging economies such as India and China are also expected to support the regional growth of the market.

Browse market data Tables and Figures spread through Pages and in-depth TOC on "Beverage Packaging Market by Packaging Type (Bottle, Can, Carton, Pouch, Other Packaging Type), by Material Type (Metal, Plastic, Glass, Paper & paperboard, Other material type), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Table of Content here - https://www.vantagemarketresearch.com/press-release/beverage-packaging-market-802479

Moreover, North America is also likely to witness substantial growth for the Beverage Packaging Market during the forecast period. This is accredited to the presence of major manufacturers of beverages like Tyson Foods Inc.; PepsiCo Inc.; Nestle; Coca Cola Company; Kraft Heinz Co.; JBS USA; and Anheuser-Busch InBev in the region. Europe is also expected to show considerable growth owing to the increasing beverage industry, changing consumer preferences of the beverages and ‘on-the-go’ lifestyle of consumers in the region.

List Of Prominent Players in the Beverage Packaging Market:

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Recent Developments in the Industry:

1. March 2021: Ardagh Group and Bragg Live Food Products announced its partnership to introduce a new 16oz glass bottle for its line of apple cider vinegar beverages. The 16oz glass non-alcoholic beverage bottle for Bragg features a lug finish and is designed by Ardagh and manufactured in the U.S.

2. December, 2021: Amcor announced the launch of AmPrima PE Plus which is first high-barrier, high-speed, recycle-ready liquid pouch packaging solution. AmPrima™ PE Plus recycle ready solutions provide brand owners with innovative packaging that supports recyclability in categories that have been historically challenging.

This market titled “Beverage Packaging Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:

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