Beverage Packaging allows the beverages to remain intact for longer duration without getting spoiled or contaminated. Soda manufactures are the major contributors to the beverage packaging market in terms of revenue. Plastic packaging occupied the largest market share and accounted for more than 50 % share in the beverage packaging market in 2014 and 2015, followed by metal in terms of material used for production. Plastic packaging is preferred in the beverage industry due to its benefits such as low manufacturing cost, light weight and easy to carry. There is a significant shift in the market as major players are opting for plastic packaging in place of glass. Eco-friendly recyclable materials based beverage packaging is expected to gain prominence in the near future as major beverage manufacturers are showing their intent to adopt them.
In 2015, the size of the global beverage packing market was estimated over USD 108 billion. It is projected to reach USD XXX.XX billion by 2022, growing with a CAGR between 4% and 5% from 2016 to 2022. Personalization of the beverage packaging is becoming more important as companies try to attract customers with aesthetic and functional designs. Smaller size packs and multi-packs meant for individual consumers are expected to spur growth of market in the near future. Growing disposable income among consumers in developing countries and surge in consumption of beverages are likely to drive the beverage packaging market over the forecast period. Decrease in commodity prices and the unstable economic conditions in several parts of the world are the two major challenges for the major players in the market. It is expected that the emphasis on adopting next-generation beverage packaging technologies in major markets will lead to growth in the sector. Lower crude oil prices have enabled major players in the market to make profit from the plastic based beverage packaging products in the recent past. Increase in demand for convenience beverage products presents opportunity for the manufacturers.
The report segments the beverage packaging market by application, material, type, and region. The segmentation of market based on application includes alcoholic beverages, dairy beverages and non-alcoholic beverages. On the basis of material, the market is segmented into glass, HDPE, metal, paperboard, plastic, PET, and others. Furthermore, based on the type, the market is segmented into bottle, bulk, can, carbon, draught, pouch, and others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Asia- Pacific region was the largest beverage packaging market in 2015. The presence of huge population and increase in consumption in beverages in China and India are major factors in growth of market in the region. Moreover, availability of low cost labor and raw materials offer growth prospects for manufacturing players in the market. North America and Western Europe are anticipated to hold key to the major part of global beverage packaging revenue. In Europe, increase in consumption of ready to drink beverages and presence of widespread network of retail stores drive the marginal growth in the market. The North American region benefits from the presence of major players in the market.
The companies covered in the report include
Crown Holdings Inc
Reynolds Group Holdings Limited
Stora Enso Oyj
Tetra Laval International S.A