Wilmington, Delaware, United States, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Wilmington, Delaware, United States, Transparency Market Research Inc. - The global alcohol packaging market is projected to flourish at a CAGR of 5.2% from 2022 to 2030. As per the report published by TMR, a valuation of US$ 17.2 billion is anticipated for the market in 2030. As of 2023, the market for alcohol packaging is expected to close at US$ 11.9 billion.
With the increasing consuming alcoholic beverages like tequila, rum, and wine among consumers due to the rising disposable income of consumers, the global alcohol packaging market is expected to grow steadily during the forecast period.
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Competitive Landscape
The leading players in the alcohol packaging market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global alcohol packaging market report:
- West Rock Company
- Stora Enso Oyj
- Smurfit Kappa Group
- Amcor Limited
- Ball Corporation
- Crown Holdings, Inc
- Ardagh Group S.A
- Owens Illinois Inc
- Gerresheimer AG
- Berry Global, Inc
- Vidrala S.A.
- Nampak Ltd
- BA Glass Germany GmbH
- Intrapac International Corporation
- Beatson Clark Ltd
- DS Smith Plc
- Mondi Group
- Saint Gobain SA
- Tetra Pak International SA
- Vetreria Etrusca SPA
Key Developments in the Alcohol Packaging Market
- In August 2022 - WestRock Company a leading provider of sustainable paper and packaging solutions, delivered its flexible and efficient Cluster-Pak® EvoTech™ packaging solution for a joint partnership between Budějovický Budvar and Mattoni beverage industry.
- In July 2023 – Amcor Rigid Packaging partnered with Ron Rubin Winery for the launch of BLUE BIN, an exciting new premium wine packaged in a 750mL bottle made from 100% recycled polyethylene terephthalate (rPET) plastic.
Rising demand for packaged beverage items for recreational activities is also driving the growth in the alcohol packaging market. The increasing demand for attractive packaging formats in the beverages industry and the growth and expansion of the food and beverages industry will further induce growth in the alcohol packaging market value.
The increasing demand for alcoholic beverages, the growth, and rapidly growing packaging industry especially in developing economies, and increased personal disposable income are the major factors that are expected to augment the growth of the alcohol packaging market over the analysis period.
Key Takeaways from the Market Study
- As of 2022, the alcohol packaging market was valued at US$ 11.3 billion
- By type, the spirit segment remains prominent accumulating a high revenue share during the forecast period
- Based on material, the glass container segment accounts for the highest market share
- Based on packaging, the bottle segment contributes to the largest share of the alcohol packaging market, due to the increased use of skincare, body care, and hair care among women.
Alcohol Packaging Market: Key Trends and Opportunistic Frontiers
- Growing environmental concerns have pushed the industry towards adopting more sustainable packaging practices. Packaging made from recycled materials, biodegradable options, and reduced packaging waste resonates with eco-conscious consumers.
- The growing popularity of premium alcoholic beer and increasing demand for new and attractive packaging solutions in alcoholic drinks packaging, such as bag-in-box, ceramic glass bottles, bag-in-tube, and whiskey pouches, is expected to boost the demand for alcohol packaging.
- Increasing demand for recyclable alcohol packaging solutions due to growth in awareness about the impact of certain packaging solutions on the environment, manufacturers are developing a sustainable packaging solution.
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Alcohol Packaging Market – Regional Analysis
- North America is an established market for alcohol packaging due to the presence of an alcohol consumption culture. The market is characterized by a diverse range of alcoholic beverages, including craft beers, wines, and spirits. Sustainable packaging, innovative designs, and convenient packaging options are among the trends in this region.
- Asia Pacific holds the larger share of the global alcohol packaging market, due to the increasing consumption of spirits in the region. The growing demand for alcoholic beverages, including imported wines and spirits in countries like China, India, and Japan drives the market demand. Increasing disposable incomes and growing demand for premiumization and aesthetic packaging designs drive the market growth
Alcohol Packaging Market – Key Segments
Application
- Wine
- Spirit
- Material Type
Glass Containers
- Metal Containers
- Plastic Containers
- Paper & Paperboard
Packaging
- Bottles
- Cans
- Bag-in-box
- Liquid brick carton
- Growlers
- Pouches
- Rigid Boxes
- Corrugated Boxes
- Folding Cartons
- Others (Multipacks, Tubes)
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
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