WASHINGTON, Oct. 10, 2022 (GLOBE NEWSWIRE) -- According to the Vantage Market Research Recent Report of the global Beverage Packaging Market, the growing demand for sustainable and convenient packaging for beverages and the rising innovation in the packaging of beverages are some of factors to fuel the market growth. Beverage Packaging Market qualitative research report is delivered with the promise made with the reader needs. With the defined historic year and the base year, assessments and calculations are performed in this market report. The Global Beverage Packaging market valued at USD 145.91 Billion in 2021.
The Global Beverage Packaging Market is forecast to reach USD 193.22 Billion by 2028, at a compound annual growth rate (CAGR) of 4.8% during the forecast period 2022 to 2028; 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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Top Companies Profiles:
- Amcor Group GmbH (Zürich, Switzerland)
- O-I Glass, Inc. (Ohio, United States)
- Crown Holdings, Inc (Pennsylvania, United States)
- Ardagh Group S.A. (Luxembourg, Europe)
- Verallia SA (Courbevoie, France)
- Tetra Pak Group (Pully, Switzerland)
- Ball Corporation (Colorado, United States)
- Toyo Seikan Group Holdings, Ltd. (Tokyo, Japan)
Key Insights and Findings from the Comprehensive Report:
- The global beverage packaging market was valued USD 145.91 Billion in 2021 and is all set to surpass USD 193.22 Billion by 2028, exhibiting a CAGR of 4.8% during the forecast period 2022-2028.
- Growing demand for convenient and sustainable packaging to boost the growth of the market.
- Plastic is the most preferred packaging solution, 3 million of plastic is recycled in was recycled in 2018. China produces the most plastic waste.
- The innovative and unique packaging also plays an important role in the promotion of the brand of alcohols.
- Asia Pacific captured the lion share for beverage packaging industry in 2021 and is likely to retain its position over the forecast period. The growth is attributed owing to the existence of a significant number of beverage packaging companies and the high adoption rate owing to government measures that propel this industry in this region.
Market Dynamics and Growth Drivers:
Growing Beverage Consumption across the globe to Drive the Beverage Packaging Market
The growth of the market is anticipated due to the rising consumption of several types of beverages including the healthy and nutritious beverages worldwide. ‘Health is the first priority’ is currently on high value hierarchy of the consumers as compared to the past. Due to the awareness of healthy beverages in consumers, they are now becoming more experimental and trying the new healthier options or drinks. Especially the drink with essential ingredients, such as vitamins and nutrients. This trend is compelling the companies to go for the innovation and friendly packaging solution, also to attract more peoples and increase the sale. Additionally, the rising consumption rate of alcoholic beverages is also a factor to support the growth of market for beverage packaging. The increasing consumption of alcohol is due to the growing socializing, young population and varieties of bars, pubs, and the increase in number of and breweries that are serving these beverages across the globe. The packaging of alcoholic beverages is mainly done in a way that is protects alcohol and also enhance its shelf life.
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The High Demand for Convenient and Sustainable Packaging to Boost the Growth of the Market
The increasing demand for eco-friendly with sustainable packaging solutions has witnessed significant growth in the past years. This packaging allows manufacture to reduce the weight and facilitate the reuse and recycle of the packaging products.
Plastic is the most preferred packaging solution adopted by global beverage manufacturers since it reduces manufacturing. Plastic waste is of particular importance because recycling and reuse rates are low and the material is sustainable, allowing mismanaged plastic waste to accumulate in the environment. Of all plastic packaging waste generated worldwide, 32% escapes collection, 14% is recycled, 14% incinerated, and 40% is land filled. We also note that about 80% of PET produced is used to bottle non-alcoholic beverages packaging.
The growth is attributable to the increasing use of polyethylene terephthalate (PET) in beer bottles is likely to support the growth of the market during the forecast period.
The report on the Caustic Soda Market highlights:
- Assessment of the market
- Premium Insights into Industry
- In-depth Competitive Landscape
- COVID Impact Analysis
- Historical Data, Current Data, and Forecast Data
- Top and Emerging Company Profiles
- Global and Regional Dynamics
Vantage Market Research Segment Analysis:
- The bottling segment is expected to grow at a considerable CAGR of 4.6% over the forecast timeline. The consumption of non-alcoholic beverages is expected to increase the demand for bottles in beverage packaging.
- The metal segment had a market share of around 39% in 2020. The chemical compatibility of the type of beverage packaging material is critical to product quality; steel and aluminium are the most suitable types of materials for packaging and promoting the growth of the market.
Regional Analysis:
Asia Pacific is Likely to Dominate the Global Beverage Packaging Market in the Near Future.
In fact, according to vantage market research surveys, the beverage packaging industry is projected to dominate the global Beverage Packaging Market with total share of 33.89% of market in 2021 and is all set to continue the same trend during the forecast timeline. The rising demand for sustainable plastic packaging in the region due to low cost and government measure to reuse the plastic waste to drive the market growth. Furthermore, the rising purchasing power of consumers in emerging economies such as India and China are also one of the factors to support the regional growth of the market.
Moreover, North America and Europe is also likely to witness considerable growth for the Beverage Packaging Market in the projected period. The increasing beverage industry, changing consumer preferences of the beverages and the presence of several industry major players.
Browse market data Tables and Figures spread through 142 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)”.
Recent Developments:
1. In the beginning March 2021: Bragg Live Food Products and Ardagh Group 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. In the beginning 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.
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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:
| Parameter | Details |
| Market Size in 2021 | USD 145.91 Billion |
| Revenue Forecast by 2028 | USD 193.22 Billion |
| CAGR | 4.8% From 2022 To 2028 |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Forecast Years | 2021 – 2028 |
| Segments Covered | • Packaging type (Bottle, Can, Carton, Pouch, Other packaging type) • Material type (Metal, Plastic, Glass, Paper & paperboard, Other material type) • Product type (Non-alcoholic beverages, Alcoholic beverages, Dairy beverages) • Region (North America, Asia Pacific, Europe, Middle East & Africa, Latin America) |
| Regions Covered | • North America ° U.S. ° Canada ° Mexico • Europe ° U.K ° France ° Germany ° Italy ° Spain ° Rest Of Europe • Asia Pacific ° China ° Japan ° India ° South Korea ° South East Asia ° Rest Of Asia Pacific • Latin America ° Brazil ° Argentina ° Rest Of Latin America • Middle East & Africa ° GCC countries ° South Africa ° Rest Of Middle East & Africa |
| Companies Covered | • 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). |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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