Beverage Packaging Market

Report Overview

Product Overview

Beverage Packaging Market size was USD 176.1 billion in 2021 and projected to grow from USD 197 billion in 2023 to USD 328.6 billion by 2032, exhibiting a CAGR of 5.8% during the forecast period.

Beverage packaging is usually one to store and protect several beverages under various factors. Packaging is an important step which maintains the safety of product and preserves the nutrients & aroma and of the beverage by avoiding contamination. Packaging is done to prevent any spillage, designed to enhance the convenience to users by maintaining quality of product. Proper packaging ensures sustaining of shelf life by protecting from environmental moisture and reduces the material costs. Several techniques were developed which aid in the marketing of product, one of it is digital printing which is a popular method of beverage packaging.

Market Highlights

Beverage Packaging Market is expected to project a CAGR of 5.8% during the forecast period, 2022-2032

Beverage Packaging Market is expected to reach USD 328.6 billion, growing at a CAGR of 5.8% during forecast period owing to the acceptance of environment-friendly, recyclable, biodegradable beverage packaging solutions is anticipated to drive the demand for market growth. The growing usage of inexpensive and lightweight materials is expected to boost the growth of the beverage packaging market. Beverage packaging is helpful in the packing of water, coffee, beer, soft drinks, energy drinks, dairy products etc. and are available in different sizes, shapes and material like plastics, metals, glass etc.

Beverage Packaging Market Segmentation

Liquid Carton segment is expected to grow with high CAGR during the forecast period

Beverage Packaging Market is classified based on the Product Type into Bottles, Pouch/Sachet, Liquid Cartons, Cans, Others. Bottle segment dominated the market in 2021 owing to presence of high demand for bottle packaging in the beverage industry. Bottle packaging is easy to handle. Liquid Carton segment is expected to dominate the market in the forecast period owing to the increased acceptance and usage of eco-friendly, sustainable and lightweight packaging solutions which is expected to boost the growth of the segment in the beverage packaging market.  

Non-alcoholic Drinks segment is expected to grow with high CAGR during the forecast period

Beverage Packaging Market is classified based on the Application into Alcoholic Drinks {Beer, Other Alcoholic Drinks}, Non-alcoholic Drinks {Carbonated Drinks/Soda, Dairy, Bottled Water, Juices/Soft Drinks, Energy Drinks/RTD Beverages}. Non-alcoholic Drinks segment dominated the market in 2021 and is expected continue its dominance over the forecast period owing to the consumption of non-alcoholic beverages like milk, soft drinks, etc. The introduction of several new non-alcoholic beverages by the key players is also expected to boost the growth of the segment in the market in the forecast period.

Market Dynamics

Growth Drivers

Increasing Urbanization is Expected to Boost the Growth of the Market

The population consuming beverages is increasing which results in the increased requirement of beverage packaging which is expected to boost the demand for packaged beverages. Urbanization is also resulting in the shift of people from rural to urban regions, which is driving the demand for necessity of beverage packaging. The intake of ready to drink beverages, energy drinks, and flavoured milk may boost the market growth. The availability of beverages in several packaging sizes is also expected to drive the demand for growth of market.

Advancements in Innovative Packaging is Expected to Boost the Growth of the Market

The demand for new and trendy packaging products is increasing due to several innovations using various types of beverage packaging which vary in quantity, size and are expected to boost the growth of the beverage packaging market. Key players are focusing on manufacture of sustainable, eco-friendly, recyclable beverage packaging material which aid in maintaining healthy environment. Advancements in technology are resulting in improved competency in the market focusing on attractive colour, graphics on packaging material which is anticipated to boost the growth of the beverage packaging market.

Restraint

Lack of Trained Professionals May Restrain the Growth of the Market

The price of raw materials for beverage packaging is high which may restrain the growth of the market. The lack of professionals trained to handle packaging machinery along with the varying regulatory policies on use of single-use plastics may hamper the growth of the market.

Recent Developments

• In September 2022, Ball Corp and Arnest Group, signed contract for the beverage packaging business in Russia.
• In December 2021, Amcor Group GmbH, partnered with Nutrea, to supply Rupro protein juice in newly developed PET Bottle.
• In December 2020, Moldovan Glassworks was acquired by Vetropack Holding Ltd.

Beverage Packaging Market

Key Players Covered:

• Amcor Limited
• Berry Global Group, Inc
• Toyo Seikan
• Ball Corporation
• Owens-Illinois, Inc
• Berlin Packaging
• Tetra Laval International S.A.
• Stora Enso
• Crown Holdings, Inc.
• Reynolds Group Holdings Limited
• Sonoco Products Company
• Ardagh Group S.A.
• Compagnie de Saint-Gobain.
• WestPak
• Smurfit Kappa Group PLC
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Beverage Packaging Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The Asia Pacific region dominated the market in 2021 and is expected to continue its dominance over the forecast period owing to the presence of developing countries in this region with increasing population depending on beverages which is expected to boost the growth of the market. Increasing adoption of modern lifestyle along with the growing disposable income is anticipated to boost the growth of beverages packaging market in the forecast period.

Impact of Covid-19 on Beverage Packaging Market

The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the coronavirus spread. Covid-19 had negatively affected several industries. There was disruption in supply of raw materials during the pandemic. The restrictions applied on travelling affected the procurement and transportation of materials. The lack of proper man power also had negative impact on production industries. Covid-19 had a negative impact on the growth of beverage packaging market.

Beverage Packaging Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Beverage Packaging Market Scope and Segments:

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