Pune, Aug. 10, 2023 (GLOBE NEWSWIRE) -- As per the SNS Insider report, “The size for Beverage Packaging Market stood at $155.8 billion in 2022 and is projected to attain $233.7 billion by 2030, experiencing a Compound Annual Growth Rate (CAGR) of 5.2% throughout the forecast period spanning from 2023 to 2030”.
Market Report Scope
Beverage packaging serves as the outer shell that encases and protects various types of beverages, ensuring their integrity and enhancing their visual appeal on the market shelves. This critical component of the beverage industry goes beyond mere functionality; it encompasses an amalgamation of innovative designs, sustainable materials, and branding strategies that collectively contribute to the overall consumer experience. In recent years, the beverage packaging landscape has undergone a transformation driven by consumer demands for more sustainable and eco-friendly options. The industry has responded with the adoption of innovative materials.
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Market Analysis
Evolving consumer lifestyles, urbanization, and changing demographics have led to a surge in demand for on-the-go and convenient beverage options. Packaging formats like single-serve bottles, pouches, and cans cater to the fast-paced lives of modern consumers who seek convenience without compromising quality. The proliferation of e-commerce platforms and online grocery shopping has transformed how beverages are purchased and delivered. This trend has fueled the demand for secure, lightweight, and durable packaging solutions that can withstand the rigors of transportation and ensure the products' freshness upon delivery. Rapid urbanization and the expanding middle class in emerging economies are driving the demand for beverage packaging market.
Beverage Packaging Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 155.8 billion |
| Market Size by 2030 | USD 233.7 billion |
| CAGR | CAGR of 5.2% from 2023-2030 |
| Key Segments | by Raw Material (Plastic, Metal, Glass, Paper & Paperboard) by Product Type (Liquid Cartons, Plastic Bottles, Glass Bottles, Cans, Pouches, Others) by Application (Alcoholic, Non-Alcoholic) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| 20% free customization scope (equivalent to 50 analyst working hours) | If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization. |
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Impact of Recession
A recession can have multifaceted impacts on the beverage packaging market. The key lies in adaptability and innovation – companies that are agile in adjusting their packaging strategies to align with changing consumer behaviors and economic conditions are more likely to weather the storm successfully. Whether through sustainable packaging, catering to bulk purchases, or maintaining brand loyalty, the beverage packaging industry must remain attuned to the evolving needs and preferences of consumers in times of economic uncertainty.
Impact of Russia-Ukraine War
The Russia-Ukraine war's impact on the beverage packaging market is complex and multifaceted. From disrupted supply chains and fluctuating material costs to changes in consumer behavior and market expansion challenges, the conflict has presented both obstacles and opportunities for beverage packaging manufacturers. To thrive in this uncertain environment, companies will need to remain agile, adaptable, and forward-thinking in their strategies, embracing innovation and exploring alternative avenues to ensure the stability and growth of their business in the face of geopolitical disruptions.
Key Regional Development
In North America, the beverage packaging market is characterized by a strong emphasis on sustainability and convenience. Consumers are increasingly demanding eco-friendly packaging options, driving innovation in materials and design. The Asia-Pacific region is a dynamic landscape for beverage packaging due to its diverse markets and rapid urbanization. Convenience is paramount in this region, leading to a surge in demand for ready-to-drink and single-serve beverages.
Key Takeaway from Beverage Packaging Market Study
- The Non-Alcoholic Beverages segment is a thriving powerhouse in the market, driven by an explosion of diverse and innovative products. This segment encompasses a spectrum of drinks, from refreshing fruit juices and flavored waters to health-conscious functional beverages and energizing drinks.
- The Liquid Cartons segment is experiencing a revolutionary shift due to its inherent sustainability and eco-friendly attributes. As global awareness of environmental concerns rises, consumers are increasingly favoring packaging solutions that minimize their carbon footprint.
Recent Developments Related to Beverage Packaging Market
- TricorBraun, a leading global packaging solutions provider, has recently completed the acquisition of CanSource, a prominent US-based supplier of innovative packaging solutions. This strategic move marks a significant expansion for TricorBraun into the beverage and specialty foods packaging sector.
- Amcor, a global leader in packaging solutions, has announced a significant expansion of its innovative product line, introducing the latest addition to their AmFiber™ Performance Paper Packaging range – now tailored for the culinary and beverages industry in the USA.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Beverage Packaging Market Segmentation, By Raw Material
8.1 Plastic
8.2 Metal
8.3 Glass
8.4 Paper & Paperboard
9. Beverage Packaging Market Segmentation, By Product Type
9.1 Liquid Cartons
9.2 Plastic Bottles
9.3 Glass Bottles
9.4 Cans
9.5 Pouches
9.6 Others
10. Beverage Packaging Market Segmentation, By Application
10.1 Alcoholic
10.2 Non-Alcoholic
11. Regional Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 The Middle East & Africa
11.6 Latin America
12 Company Profile
12.1 Saint-Gobain S.A
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Reynolds Group Holdings Limited
12.3 Crown Holdings Inc
12.4 Ball Corporation
12.5 Orora Packaging Australia Pty Ltd
12.6 Berry Global Inc
12.7 Intrapac International Corporation
12.8 Amcor Limited
12.9 Owens-Illinois Inc
12.10 BA Glass Germany GmbH
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases and Best Practices
15. Conclusion
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