(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Oct 14, 2021, 06:38 /Comserve / -- Beverage Packaging Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The beverage packaging market was valued at USD 132.16 billion in 2019 and is expected to reach USD 205.32 billion by 2025, at a CAGR of 6.2% over the forecast period 2020 - 2025. Packaging, as a critical factor, plays an essential role in the widespread consumption of beverages. Different beverages being packaged in varied materials and sizes reflect upon the sheer size of the market. Also, being a consumer-end market, the demand for the same has been rising significantly. Major drivers for the same have been growing disposable income, urbanization, and changing lifestyles.
- The growing demand for carbonated drinks, energy drinks, and juices, among others, is indicative of rising PET bottles and metal cans as preferred materials for the same. Glass on the other hand, with its recyclable properties, has been challenged by increased costs of production and recycling. The preference for the same has been growing recently concerning sustainability trends across beverage packaging.
- Moreover, as plastic has been long-standing and a preferred packaging option by global beverage manufacturers, due to the reduced manufacturing, durability, and logistics costs, the transition towards sustainable packaging has driven these packaging manufacturers and bottling companies to pledge and commit usage of newer materials for the same.
- For instance, Coca-Cola shared its commitment towards recycling as many plastic bottles as it uses by 2030. For the same, the company has been partnering with NGOs globally, to help improve collection. Then, as of January 2020, Nestle commits USD 2.1 billion towards using recycled plastic packaging.
Click Here to Download Sample Report >>
Key Market Trends
Alcoholic Beverage is Driving the Market
- The categorization of alcoholic beverages includes wine, beer, spirits, etc. being packaged using formats such as bottles, kegs, cartons, and cans, to name a few. When it comes to Alcoholic beverages, there has been a significant transitioning of the wine industry concerning packaging format has been observed, as the global consumption across still wine has been slowing down. This has led the Unites States-based wineries to drive packaging innovations to cut costs and appeal to younger consumers.
- Therefore, portability and convenience became significant drivers in wine packaging innovation, which led to Bota Box and Black Box to leverage alternative packagings, such as tetra packs and bag-in-box wine and cartons. According to the State Of Wine Industry Report 2020, by Silicon Valley Bank, canned wine in the country has recorded an 80% growth in 2019, despite the 0.5% as an overall share.
- Cans have been observed increasing footprint across other alcoholic single-serve options. Here, the economies of smaller sizes remain the same for cans for 375- and 500-milliliter glass formats. For instance, small-sized bottles and cans, such as 100-200 milliliters, have been holding 90% of beer volume globally.
- Beer's packaging, on the other hand, is highly diverse. The format packaging type preference has been driven by different regions where local laws, regulations, tastes, culture, and other drivers influence the packaging landscape.
Asia-Pacific to Witness Highest Growth
- The Asia-Pacific region holds significant potential for development in terms of the most prospective countries. The market holds a substantial share in retail packaging, estimating to nearly 75%, as significant manufacturing is done in China.
Request For The Sample Report Here:
- The demand for beverages, and hence the demand for beverage packaging, is expected to grow faster in the Asia-Pacific region. This is due to a rise in income and ongoing population shift from rural to urban, in major countries such as China, Japan, and India.
- Changes in lifestyle and a growing young population lead to a higher demand for branded and packaged substances. At the same time, growing health awareness and more concern towards environmental sustainability lead to innovations in beverage packaging in the region.
- Moreover, on the go consumption in countries like India, China, Japan is fuelling demand. With two of the world's populous countries China and India, the beverage demand is always on a higher side, subsequently driving the beverage packaging market.
The beverage packaging market is fragmented due to many players are entering into the packaging market. Moreover, innovation and development by players are making the market competitive. Some of the key developments in the market are:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Market Drivers
4.5 Market Restraints
5 IMPACT OF COVID-19 ON THE BEVERAGE PACKAGING INDUSTRY (COVID Life Cycle Scenario, Peak Cycles, Short-term and Long-term Value Chain Disruptions, Best-case and Worst-case Scenario Industry Impact, and Euro Green Strategy Initiatives)
Request For Full Report >> Beverage Packaging Market
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.