global beverage packaging market size is expected to reach $133.3 billion in 2026, from $86.1 billion in 2018, growing at a CAGR of 5.6% from 2019 to 2026

PORTLAND, UNITED STATES, UNITED STATES, July 4, 2023/EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, " Beverage Packaging Market by Packaging Material, Beverage Type, and Packaging Type: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global beverage packaging market size is expected to reach $133.3 billion in 2026, from $86.1 billion in 2018, growing at a CAGR of 5.6% from 2019 to 2026. In 2018, Asia-Pacific dominated the market, in terms of revenue, accounting for over 39.4% share of the global beverage packaging market.

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𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁

The beverage packaging market is broadly categorized into rigid and flexible packaging. Rigid packaging includes cans, bottles and jars, while flexible packaging includes pouches, bags and gable top cartons. The growing demand for convenience and on-the-go packaging has led to an increase in the growth of the flexible packaging segment.

The global beverage packaging market accounts for high potential in the non-alcoholic beverages segment. The current business scenario experiences rapid innovations and developments in the non-alcoholic beverages segment, mainly owing to the consumer preferences toward healthier drinks. Also, the beverage manufacturers are producing drinks with added vitamins and nutrients, to sustain the trend of healthy beverage alternatives. This trend motivates the packaging manufacturers to develop new attractive packages with abilities to preserve the nutrient content of the beverage.

The demand for packaged beverages is also increasing due to health awareness among consumers, who now prefer low-sugar drinks and nitrate-free teas. Companies are now heavily investing in the new packaging technology such as aseptic packaging to extend the shelf life of beverages. Aseptic packaging helps keep the packaged beverages fresh for longer without the need of preservatives or refrigeration.

The growing demand for online shopping and home delivery is also expected to provide a boost to the beverage packaging market. With more people working from home due to the pandemic, the convenience of buying and consuming beverages online has become increasingly popular. Thus, companies are now focusing on providing cost-efficient and sustainable packaging solutions to keep goods safe during delivery.

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𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗢𝘂𝘁𝗹𝗼𝗼𝗸

The increased consumption of bottled water, the popularity of convenience packaging, and increased adoption of automation in the beverage package manufacturing is driving the growth of the beverage packaging industry. However, implementation of plain packaging for alcoholic and sugary beverages is projected to restrain the market growth. Moreover, introduction of bio-plastics and use of recycled plastic as an alternative to virgin plastic packaging are expected to increase the productivity of the beverage packaging manufacturing players and create lucrative opportunities for the growth of the market.

Based on region, Asia-Pacific accounts for the highest revenue in the global beverage packaging market during the forecast period followed by Europe, North America and LAMEA.

The growing concerns over single-use packages have prompted organizations and governments to switch to recycled and reusable packaging options, such as glass and aluminum cans. Manufacturers now deploy various strategies such as increasing their use of recycled materials to reduce non-recyclable packaging waste.

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲

The major players operating in the beverage packaging industry include Amcor plc, Ball Corporation, Crown Holdings, Inc, Mondi plc, Orora Limited, Reynolds Group Holdings Limited, SIG Combibloc Group AG, Smurfit Kappa Group plc, Stora Enso Oyj, and Tetra Laval International S.A.

Overall, the beverage packaging market is expected to witness remarkable growth over the forecast period due to the increasing demand for packaged beverages and the rising focus on convenience and sustainability. Companies are focusing on deploying attractive packaging designs to capture consumer attention and gain market share.

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𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗥𝗲𝘃𝗶𝗲𝘄 -

The key players in the market have focused on product launch and product developments to strengthen their foothold in the beverage packaging industry. For instance, in August 2019, the company Amcor developed new range of polyethylene terephthalate (PET) bottles for the Age’s Salzburg craft beer brand in Brazil. The new bottle provides four months shelf life. Also, the bottle can be fully recycled in the pre-existing recycling machinery. The bottle features glass-like look and has a metal crown. Similarly, in July 2019, SIG Combibloc Group AG launched SIGNATURE PACK 100 in France. The pack is an aseptic carton that is aluminum-free with polymer made from plant-based renewable material. The product is launched by the company Candia that provides packed dairy products. Moreover, the companies such as Orora Limited, acquired local packaging manufacturers such as Pollock Packaging, headquartered in Texas, U.S., to increase its geographical presence and enhance its product portfolio.

In conclusion, the growing demand for convenience and sustainability has encouraged companies to focus heavily on deploying innovative packaging solutions. This, along with the introduction of recycled materials, is expected to propel the growth of the beverage packaging market in coming years.

David Correa
Allied Analytics LLP
+15038946022 ext.
email us here

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