Luton, Bedfordshire, United Kingdom, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The global beverage packaging market is expected to grow at 5.5% CAGR from 2019 to 2028. It is expected to reach above USD 220 billion by 2028 from USD 136 billion in 2019.
Beverage packaging is a extensive part of the ever-growing beverage industry. The packaging of beverages is a complex process and the variation of beverages such as alcoholic or non-alcoholic, require different materials and containers. A beverage package that is properly designed and used increases the shelf life of the beverage, is practical for users, and reduces material costs associated with waste. Glass, polymers, metals, paperboards, and their mixtures are also used as packaging materials for beverages. According to the beverage's intended use, chemical makeup, and shelf life as well as the value of the beverage that will be packaged, different materials are employed.
The growth in lifestyles of the population and the increase in per capita incomes mainly in the developing economies boost the consumption of packaged beverages and thereby, fuel the demand for better and convenient packaging technologies. The worldwide beverage packaging market is anticipated to be driven by rising premium product demand, rising beverage consumption, and rising need for convenient and sustainable packaging. The growing demand for functional beverages is predicted to lead to a gratifying growth in the worldwide beverage packaging industry.
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According to the results of our study methodology, the growing economies of China, India, Indonesia, Taiwan, Malaysia, and Thailand will help the Asia Pacific region hold the largest market share for beverage packaging globally during the forecast period. In the near future, rapid urbanization and rising disposable income are projected to increase consumption of beverages and beverage packaging. The Asia Pacific region's growth rate is accelerated by the rising demand for beverages like beer, wine, carbonated soft drinks, and others in these countries.
Recent Developments:
May 2021 – Stora Enso and Pulpex joined their forces to develop fiber-based bottles and containers made from wood pulp. With the Stora Enso expertise in formed fiber material, Pulpex is developing paper bottles for alcoholic, non-alcoholic and liquid food applications.
May 2021 - INEOS and Laactel formed a strategic partnership to develop the world’s first HDPE milk bottle made from post-consumer recycled materials. Both companies are engaged to introduce recyclable PET bottles for packaging of UHT milk and to promote plastic circular economy.
Report Scope of the Beverage Packaging Market
| Report Highlights | Details |
| Market Size in 2019 | US$ 136 billion |
| Growth Rate | CAGR of 5.5% from 2019 to 2028 |
| Revenue Projection | US$ 220 Billion by 2028 |
| Largest Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2019 to 2028 |
| Segments Covered | Packaging Type, Material Type, Beverage Packaging, By Region |
| Packaging Type |
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| Material Type |
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| Beverage Packaging |
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| By Region |
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| Companies Mentioned | Amcor Group GmbH (Switzerland), O-I Glass, Inc. (US), Crown Holdings, Inc (US), Ardagh Group S.A. (Ireland), Verallia SA (France), Tetra Pak Group (Switzerland), Ball Corporation (US), Toyo Seikan Group Holdings, Ltd. (Japan), and CPMC Holdings Limited (China) |
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The study provides answers to queries like:
1. What is the size and outlook for the global Beverage Packaging Market?
2. How will COVID-19 affect and be a limiting factor for the global Beverage Packaging Market over the next years?
3. Which global Beverage Packaging Market sectors, uses, and regions should investors focus on during the forecast period?
4. What is the global Beverage Packaging Market competitive strategic window for opportunities?
5. What technological developments and legal frameworks are present in the Beverage Packaging Market globally?
6. What is the market share of the top suppliers in the Beverage Packaging Market?
7. What methods and tactical movements are thought to be appropriate for joining the global Beverage Packaging Market?
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