Pune, India, July 12, 2023 (GLOBE NEWSWIRE) -- The global beverage packaging market size was valued at USD 138.72 billion in 2022 and is expected to be worth USD 144.40 billion in 2023. The market is projected to reach USD 199.15 billion by 2030, recording a CAGR of 4.70% during the forecast period.
The main job of packaging materials is to keep products safe from the harmful effects of the external environment and prevent leakage. A vast majority of packaging companies use several advanced decorative technologies to create attractive packaging materials and expand their customer base. These organizations are using different packaging products, such as bottles, cans, jars, and pouches to boost a drink’s shelf life and improve their sales. These factors are expected to accelerate the beverage packaging market growth.
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List of Key Companies Profiled in the Beverage Packaging Market Report
- Amcor plc (Australia)
- Glassworks International (U.K.)
- Crown Holdings (U.S.)
- Mondi Group (U.K.)
- Graham Packaging Company (U.S.)
- Sonoco Products Company (U.S.)
- Refresco Group (Netherlands)
- Ball Corporation (U.S.)
- Berry Global Inc. (U.S.)
- Tetra Pak Group (Switzerland)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 4.70% |
| 2030 Value Projection | USD 199.15 Billion |
| Market Size in 2022 | USD 138.72 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 220 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Beverage Packaging Market Growth Drivers | 0.5 mm to Lead as it Provides Optimum Performance |
| Increasing Demand from Various End-use Industries to Propel the Product Demand |
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Beverage Sales Decreased Due to Stringent Government Guidelines During COVID-19 Pandemic
The COVID-19 pandemic caused a major decline in the growth of many industries across the world as governments across the world imposed several restrictions on movement and travel. This factor, along with a severe shortage of labor and high raw material prices, hampered production and decelerated the sales of beverage packaging products, further hindering market growth.
Segmentation:
Plastic-based Beverage Packaging to Gain Traction among End-Users for Their Beneficial Properties
Based on material, the market is segmented into plastic, glass, metal, and others. Plastic materials captured the largest beverage packaging market share as they come with several advantages, such high stability and strength, prevent leakage, and can survive harsh temperatures.
Bottles and Jars to be Widely Used to Pack Large Volumes of Beverages
Based on product type, the market is segmented into cans, bottles & jars, pouches, cartons, and others. The bottles & jars segment is dominating the global market as these products are being extensively used to pack large quantities of drinks and other liquids, protect them from damage, and improve their aesthetic appearance.
Rising Demand for Non-Alcoholic Beverages to Boost Adoption of Packaging Products
Based on application, the market is segmented into alcoholic and non-alcoholic. The non–alcoholic beverage segment is leading the global market growth as the overall demand for energy drinks is rising every year due to the ever-changing lifestyle of customers.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The market research report analyzes the market in-depth and highlights important aspects, such as the industry’s competitive landscape, leading companies, porters five forces analysis, product/service types, and top applications of the product. It also PROVIDES insights into the latest market trends and focuses on leading developments in the industry. Besides the abovementioned factors, the report covers several factors that have contributed to the market's growth in recent years.
Drivers and Restraints:
Growing Preference for Non-Alcoholic Drinks to Boost Market Progress
Non-alcoholic drinks are witnessing robust demand among customers as they are becoming more health-conscious, especially after the COVID-19 pandemic. Some of the highly demanded non-alcoholic beverages include milk, soft drinks, bottled water, carbonated drinks, and energy drinks. Since more people are opting for healthy drinks to take better care of their health, the sales of non-alcoholic drinks will rise, which will positively impact the market forecast.
However, stringent regulations regarding the use of non-recyclable packaging materials may impede market growth.
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Regional Insights:
Asia Pacific Market to Grow With Rising Demand for Non-Alcoholic Beverages
Asia Pacific is predicted to be a dominant region in the global market as the region is witnessing a strong growth in the demand for non-alcoholic drinks due to rapid changes in customers’ lifestyles. Since the population of countries, such as India and China is growing every year, the demand for non-alcoholic beverages will rise, thereby boosting the regional market growth. Europe is the second largest region in this industry as the region has a large number of alcohol consumers and the demand for carbonated drinks is also increasing.
Competitive Landscape:
Some of the leading companies operating in the market include Glasswork International, Amcor Plc, Crown Holdings, Ball Corporation, and others. These organizations are offering innovative packaging solutions to their customers and trying to increase their customer base.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Beverage Packaging Market
- Global Beverage Packaging Market Analysis (USD Billion), Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights, and Forecast – By Material
- Glass
- Plastic
- Metal
- Others
- Market Analysis, Insights, and Forecast – By Product Type
- Cans
- Bottles & Jars
- Pouches
- Cartons
- Others
- Market Analysis, Insights, and Forecast – By Application
- Non-Alcoholic
- Alcoholic
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued...!
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Notable Industry Development:
January 2023: Ardagh Metal Packaging introduced a new 19.2 oz.(568ml) beverage that can expand its presence in the single-serve space. The product provides an offering between the standard size of 6 oz. and 24 oz. and can be used to pack ciders, beers, hard seltzers, and water.
Read Related Insights:
Consumer Beverage Packaging Market Size, Share, and Regional Forecast, 2023-2030
Glass Packaging Market Size, Share, and Regional Forecast, 2023-2030
Europe Glass Packaging Market Size, Share, and Regional Forecast, 2020-2027
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