Beverage plastics are a critical component of the food & beverage industry. Beverage packaging is a complex procedure that comprises both alcoholic and non-alcoholic beverages, each of which necessitates different types of plastic materials. Proper design and adoption of beverage plastics extends product shelf life, is more convenient, and minimizes wastage. Along with plastics, other packaging materials include glass, metals, and polymers.
AI and intelligent systems making their debut in beverage plastics
Changing consumer preferences in the 21st century has required beverage plastics to keep abreast. There is a need for beverage plastics to retain aroma, insulate heat, enhance rigidity, and act as a barrier preventing moisture. There has been a soaring demand for smaller sized beverage plastics in particular, leading to the emergence of flexible pouches and bags. In addition, there has been an incorporation of intelligent systems in beverage plastics allowing the beverage plastics market to grow by leaps and bounds. Intelligent systems provide the benefit of maintaining the nutritional content of beverages.
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Cultural and traditional factors responsible for European beer consumption
A rising disposable income pushing consumers towards more premium offerings such as expensive alcoholic beverages directly benefits the beverage plastics market. In European countries such as Ukraine, Andorra, Belarus, Lithuania, Moldova, Romania, and Russia, both cultural and traditional aspects fuel the heavy demand for alcohol. When it comes to beer producing nations, China, the US, Germany, Mexico, Brazil, and the UK lead the way. Consumers have a marked interest in low ABC, premium, and craft beer, providing additional opportunities for beverage plastic makers in North America and Europe in particular. Other drivers are the need for packaging convenience, a greater consumer focus on their own health, new plastic developments, better recycling infrastructure, and the enhancement of retail brands in APAC countries.
A number of beverage plastic companies actively involved in the market have been profiled in this report. They are Constantia Packaging Ag, Chemson Group, Solvay S.A., Limburgse Vinyl Maatschappij (Lvm), Total Petrochemicals, Arkema, Global Closure Systems, Solvin, Uponor Corp, Nova Chemicals Corporation, Vinnolit Gmbh & Co. Kg, Aep Industries, American Excelsior Company, and Advanced Drainage Systems.
Newer drinks focusing on niche audience in beverage plastics market
The beverage plastics industry is bearing witness to the rise of emergent segments such as vitamin water, flavored tea, vegetable juices, and energy drinks in recent times. Dairy, juices, and alcoholic beverages have long-standing demand, while the newer segments typically target a specific demographic with targeted marketing campaigns. Furthermore, the evolution of distribution systems has led to deeper penetration in a cost-effective manner. Modern developments in robotics, the installation of automated machines, licensing and franchising agreements, and process automation are responsible for the boom in the global beverage plastics for the five-year period from 2021 to 2026.
Short term COVID-19 bans could have long term impact on market
The consumer goods and packaging market has borne the brunt of the COVID-19 pandemic. Even before the WHO declared it to be a pandemic, the retail & hospitality industry has come to the verge of near-total collapse, reducing the demand for beverage plastics. Some emerging economies such as India have gone to the extent of temporarily banning alcohol sales. Thus, the short-term growth prospects are likely to be slim for companies. Furthermore, there has been a delay in raw material procurement from the world’s factory China, resulting in reduced production for companies involved in beverage plastic manufacturing. It is highly likely that companies will shift to science-based targets to reduce their carbon emissions to adhere to the norms of the Paris Agreement. Companies that fail to do so risk being left behind their competitors in the cutthroat competition of the ever-evolving beverage plastics market.
KEY QUESTIONS ANSWERED IN THE REPORT
- What is the market size and growth rate of the global and regional markets by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market during the forecast period?
- What factors are anticipated to impact demand and supply trends in the market during the forecast period?
- What factors are likely to drive market revenue growth during the forecast period?
- What are the key technology and other trends shaping the market?
- What are the key opportunities in the market?
- What are some of the strategies implemented by key companies operating in the market?
- What is the COVID-19 impact on the market?
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