Beverage Packaging Market

Beverage Packaging Market touched USD 96.7 Billion in 2022 and is estimated to reach USD 149.5 Billion in 2030, expanding at a CAGR of 5.6%.

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Major Beverage Packaging Market Drivers

Growing demand for convenient and sustainable packaging solutions to increase the shelf life of product, prevent the content from heat, and preserve the nutritional value of product is one of the major factors driving the beverage packaging market. The incorporation of Internet of Things in beverage packaging solutions helps in increasing the production speed, improving quality of finished products, and reducing operational cost, is expected to escalate the market growth. With the growing emphasis on environmental sustainability, leading beverage companies have adopted biodegradable and eco-friendly packaging solutions like bioplastics. For example, Coca-Cola partnered with NGO to recycle as many plastic bottles as it uses by the end of 2030.

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Product – Segment Analysis

Bottles and jars are forecast to witness a higher CAGR during the forecast period owing to their increasing use to pack alcoholic beverages. Also, they are more convenient, easy to clean and handle, and offer an attractive look to overall product, thus, encouraging their adoption in the beverage packaging industry.

Material – Segment Analysis

Metal segment is predicted to hold a larger share over the forecast period, owing to their capability to minimize the damage caused by oxidation and light and enlarge the shelf life of product. Ongoing developments and increasing adoption of metal packaging by leading beverage brands will further expand the market size.

Plastics are expected to witness a faster CAGR over the forecast period, primarily due to the growing demand for environment-friendly and water-soluble plastic forms. According to the Beverage Packaging Market research, increasing awareness about the advantages of plastic material including need of less raw material, container variety, lighter weight, and easy disposition, will propel the segment’s size.

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Regional – Segment Analysis

Asia Pacific is estimated to grow at a faster CAGR over the forecast period, owing to the expansion of beverage industry. Factors including rapid urbanization, rising disposable income, growing health concerns, and decreasing production of fresh food & beverages have fueled the processed food & beverages products, thereby driving the beverage packaging market. Rising trend of on-the-go consumption aided by the hectic lifestyle along with the growing millennial population will add to market growth.

Top Market Players

Various notable players operating in the market, include, Amcor plc, O-I Glass, Inc, Crown Holdings, Inc., Ardagh Group S.A, Verallia, Tetra Pak Group, Ball Corporation, Vidrala, Toyo Seikan Group Holdings, Ltd., Cofco, among others.

Key Developments:

• • In May 2021, Stora Enso and Pulpex joined together to form a fiber-based bottles and container made from wood pulp.
  • In March 2021, Graphich Packaging has launched a recyclable beverages packaging solution for Cap-it-brand. It was designed with paper board and offer alternative solution to conventional shrink films.
  • In 2021, Graphich Packaging introduced a recyclable beverages packaging solution for Cap-it-brand designed with paper board and offer solution to traditional shrink films.
  • In 2021, INEOS entered in a strategic partnership with Laactel to launch nation’s first HDPE milk bottle made from post-consumer recycled materials. This partnership was intended to help companies introduce recyclable PET bottles for packaging of UHT milk.
  • In 2020, Vetropack Holding Ltd acquired Moldovan Glassworks. This acquisition would help the company to strengthen its market position.
  • In 2020, Smirnoff, Diageo, Johnnie Walker, and Guinness’s parent company, introduced 100% plastic-free, paper-based spirit’s bottle. The bottle is expected to be sourced from sustainable wood.
  • In 2020, Canpack, decided to add one billion cans annually to support market growths in Colombia and Russia. The company will also expand the yearly capacity of Columbian facility’s by 46% from 1.3 billion cans to 1.9 billion.

Segments Covered in the Report:

The global Beverage Packaging Market has been segmented on the basis of Product, Material and regions. Based on Product, the market is segmented into Bottles and Jars, Pouches and Others. Based on Material, the market is segmented into Metal, Paper, Glass and Plastic.

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Market Segmentation

Global Beverage Packaging Market by Product

• • Bottles and Jars
  • Pouches
  • Others

Global Beverage Packaging Market by Material

• • Metal
  • Paper
  • Glass
  • Plastic

Global Beverage Packaging Market by Region

• • North America Beverage Packaging Market (Option 1: As a part of the free 25% customization)

    • By Product
    • By Material
    • US Market All-Up
    • Canada Market All-Up

  • Europe Beverage Packaging Market (Option 2: As a part of the free 25% customization)

    • By Product
    • By Material
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Beverage Packaging Market (Option 3: As a part of the free 25% customization)

    • By Product
    • By Material
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Beverage Packaging Market (Option 4: As a part of the free 25% customization)

    • By Product
    • By Material
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Market Name (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Amcor plc
  • O-I Glass, Inc
  • Crown Holdings, Inc.
  • Ardagh Group S.A
  • Verallia
  • Tetra Pak Group
  • Ball Corporation
  • Vidrala
  • Toyo Seikan Group Holdings, Ltd.
  • Cofco