New York (US), Aug. 08, 2023 (GLOBE NEWSWIRE) -- Beverage Cartons Market Overview
The research documents by MRFR indicate that the “Beverage Cartons Market Research Report Information by Application, Region, and Type - Forecast Till 2032”, the Beverage Cartons market is predicted to grow substantially over the assessment timeframe from 2022 to 2032 at a healthy CAGR of around 4.50%. The reports even share predictions regarding the market's growing revenue share, which will likely reach USD 25.6 Billion by the end of 2032. As per the study documents, the market was worth around USD 17.2 Billion in 2022.
Market Scope
The Beverage Cartons Market refers to the global market for carton packaging used specifically for beverages. Beverage cartons are containers made from paperboard or cardboard materials that are designed to hold various types of beverages, such as milk, juice, water, and other non-alcoholic drinks. These cartons are typically composed of multiple layers, including paperboard, plastic, and aluminum, which provide protection and preserve the freshness and quality of the beverages.
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Competitive Analysis
The catalog of the top leaders across the global Market for Beverage Cartons includes players such as:
- Tetra Pak
- Westrock Company
- Elopak
- Visy
- Sig Combibloc Group Ltd.
- Stora Enso
- Mondi Group
- Pactiv Evergreen
- Greatview Aseptic Packaging Co. Ltd.
- IPI S.r.l.
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 25.6 Billion |
| Compound Annual Growth Rate (CAGR) | 4.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The rise in demand for sustainable products and awareness regarding the environment coupled with increasing demand for convenient packaging |
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Market USP Covered
Market Drivers
The global Beverage Cartons industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is the increasing global population. Furthermore, the rising disposable income around the developing regions is also considered one of the vital parameters enhancing the market's growth. Moreover, the factors such as changing lifestyles, growing urban population, demand for packaged beverages, youths' growing health consciousness, demand for flavored water, and customers' active lifestyles are also projected to impact the market's growth over the coming years positively.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Beverage Cartons industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.
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Segment Analysis
Among all the types, the shelf-stable cartons segment held the leading position across the global market for beverage cartons in 2022. The main parameter supporting the market segment's growth is the creation of a sanitary environment; many beverage items, such as fruit juices and milkshakes, are vulnerable to microbial proliferation at elevated temperatures. Furthermore, the growing requirement for packaging that can extend product shelf life is also likely to enhance the market segment's growth over the coming years.
Among all the application areas, the dairy products segment held the leading position across the global market for beverage cartons in 2022. The main parameter supporting the market segment's growth is the rising consumption of various dairy-based beverages such as fresh milk, nutritional drinks, packaged coffees, milkshakes, and UHT milk. The reports project that the other application areas, such as sparkling waters, alcoholic beverages, and still drinks, are anticipated to showcase a higher growth rate over the coming years.
Regional Analysis
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World.
The research documents by MRFR indicate that the Asia-pacific Region held the leading position across the global Beverage Cartons industry in 2022 with the largest contribution of nearly 45.80%. India, China, and Indonesia are the leading development contributors in the Region. Further, the China Beverage Cartons Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is the economic expansion in the Region's developing nations. The intake of beverages is projected to boost, growing the utilization of beverage packaging like cartons, with urbanization and disposable income rise.
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The North American Region was second in the global Beverage Cartons industry in 2021. The Region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Beverage Cartons Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional expansion is the biggest market for processed and packaged beverages. An average American consumes about 8.7 liters of alcoholic beverages every year, per a survey published in The Hill. In 2019, the U.S. spirits business expanded by nearly 5.3%, resulting in record sales of USD 29 billion, according to a Forbes report. Furthermore, the growing consumption of non-alcoholic beverages across the Region is also likely to positively impact the growth of the regional market over the coming years.
The European Region anticipates substantial growth across the global Beverage Cartons industry over the coming years. The Region has France, Germany, and the U.K. as the leading development contributors. Further, the German Beverage Cartons Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The main aspect supporting regional market expansion is the escalating demand for low/non-alcoholic and practical ready-to-drink (RTD) beverages since the younger population has begun to favor lower-alcohol drinks with distinctive flavor profiles. The latest generation is causing a rise in demand for packaged drinks and mocktails by experimenting with new flavors and sensory experiences for the products.
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