Alcohol Packaging Market Research Report by Material (Glass, Metal, Plastic, Paper & Paperboard), Packaging (Primary Packaging, Secondary Packaging), End User (Residential, Commercial, Public sector, and Others), and Region-Global Forecast till 2023
Market Synopsis of Global Alcohol Packaging Market
Geographically, the global alcohol packaging market has been divided into four major regions: North America, Europe, Asia-Pacific and the rest of the world. North America accounted for the largest market share in 2016, followed by Europe and Asia-Pacific. High living standards of people and high consumption of premium alcohol beverages driving the growth of the market in this region. Europe is the second-largest market for alcohol packaging. Increasing consumption of alcohol coupled with high purchasing power of the consumers drives potential demand for the market in the coming years.
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North America is expected to grow at the highest CAGR during the forecast period. Increase in the disposable income of consumers and high consumption of alcohol in the region driving the demand of the market. The US and Canada are the major markets in North America region. Growing disposable income and high standards of living are the activities in the region driving the growth of the market. Asia-Pacific and in the rest of the world, the Middle East & Africa are expected to significantly contribute to the market during the forecast period mainly due to changing lifestyle and increasing consumption of alcohol. Asia-Pacific is expected to register a considerable growth during the forecast period primarily due to high consumer expenditure.
For this study, the global alcohol packaging market has been divided into three segments: by material, packaging, and application. On the basis of material, the market has been segmented into glass, metal, plastic, and paper & paperboard. In the material segment, glass accounts for the largest market share. Glass in known for various properties including water-resistance, flexibility of shape, and chemical inertness. Moreover, it can be reused and can be recycled. Glass packaged products stay safe and can last for a longer duration.
On the basis of packaging, the market has been segmented into primary packaging and secondary packaging. Primary packaging is subdivided into bottles, cans, bag-in-box, liquid brick carton, growlers, and pouches. Secondary packaging is subdivided into boxes, folding cartons, and others. Primary packaging dominates the type segment of the market and is expected to grow at the highest CAGR during the forecast period. With the increasing demand for packaging that offers ease of consumption and handling, the market segment for primary packaging is gaining pace. Secondary packaging is also expected to grow at a significant CAGR during the forecast period.
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On the basis of application, the market has been segmented into beer, wine and spirits, and others. Beer packaging currently dominates the application segment and is expected to grow at the highest CAGR during the forecast period. Increase in the consumption of beer and its increasing popularity among the masses, especially youth, is driving the growth of this segment.
Packaging offers strong brand visibility and increased brand promotion which is currently leading the alcohol manufacturers to concentrate on adhering to the best standards of packaging. Manufacturers are mostly concentrated on providing a variety of packaging designs to facilitate consumption and handling for the consumers. Alcohol packaging is divided into primary and secondary packaging. It involves the use of various materials like glass, metal, plastic and paper & paperboard for packaging a variety of alcoholic beverages.
Hence, the global alcohol packaging market is expected to grow at a CAGR of 4.2% during the forecast period.
The prominent players in the alcohol packaging market include Ball Corporation (US), Crown Holdings, Inc. (US), Ardagh Group S.A. (Republic of Ireland), Fiberon, LLC (USA), Owens Illinois Inc. (US), Berry Global, Inc. (US), Gerresheimer AG (Germany), Nampak Ltd (South Africa), Stora Enso Oyj (Finland), Vidrala S.A. (Spain) and among others.
The report for global alcohol packaging market by Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain the deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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