The market is expected to generate an incremental $ opportunity of US$ 43.1 Bn between 2022 and 2030
Category: Packaging Published Date : July 2022 ID: CVC-00153-PKG Format: PDF Pages: 285
Beverage Packaging Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Beverage Packaging Market was worth US$ 105.0 Bn and is expected to grow at a CAGR of 4.4% over the forecast period. The market is expected to hit US$ 148.2 Bn by 2030 end.
Packaging is about more than simply protecting or extending the shelf life of a product; it is also about captivating the customer’s eye by applying modern decorative techniques and expressing the company’s brand, including environmental concerns.
Effective and efficient packaging is critical in the beverage business because it protects the product during shipping, distribution, handling, and primary and secondary packing. Furthermore, the product’s taste, freshness, quality, and appearance are preserved. It also helps in the reduction of food recalls and dangers, as well as traceability.
Growing bioplastics use and the rising need for easy and sustainable packaging solutions are among the main factors driving market expansion.
What factors are driving the rise in demand for beverage packaging?
The growing desire for premium products, backed by rising disposable income, affects alcoholic beverage consumption favorably. The increasing use of bioplastics and the soaring need for convenient & sustainable packaging solutions are among the main factors driving the market’s rapid rise. Technological advancements are also propelling the beverage packaging industry forward.
The growing emphasis on environmental sustainability is expected to result in decreased use of petroleum-based products and a surge in demand for biobased alternatives.
The increase in consumption of alcoholic and non-alcoholic beverages, the expanding popularity of beverage consumption, and the growing adoption of an on-the-go lifestyle among consumers will boost demand for packaged beverages.
What are the opportunities in the Beverage Packaging Market?
Smart technologies are ushering in a new digital era in the beverage business. Technology may be directly placed in beverage packaging to give the additional user convenience, security, and information, such as QR codes, smart labels, and so on, which can be scanned and read with a smartphone. The firms are developing technical improvements that improve the consumer experience, which will promote the expansion of the beverage packaging industry.
Raised health awareness among teenagers will increase demand for bottled juices, energy drinks, and health drinks, presenting producers with several chances to enhance sales. Demand for bottled water and flavored water infused with vitamins, natural tastes, or nature-identical flavoring compounds such as basil, lemon, mint, orange, hibiscus, and fruits has grown due to increased tourism, easy availability of bottled water, and a preference for a healthy lifestyle.
Consumers’ growing awareness of environmental safety and increased acceptance of eco-friendly goods present enormous prospects for beverage packaging product makers. Bioplastics are polymers from renewable materials such as maize starch, wood chips, vegetables, and fatty oils.
The change in beverage packaging from traditional materials to bioplastic bottles creates new opportunities for industry participants.
What are the major challenges confronting the Beverage Packaging Market?
Packaging trash is harmful to the environment since it takes decades to degrade. Governments worldwide are tackling this issue by enacting stringent regulations that the beverage packaging sector must obey. Governments in various regions employ various measures to address packaging waste and recycling challenges. This directive includes steps to reduce packaging waste generation and promote recycling, reuse, and another trash recovery.
The lockdown and travel restrictions caused the closure of hotels, restaurants, and cafés, and government officials told individuals to stay home, resulting in a large increase in online beverage grocery demand. Rising consumer health and hygiene awareness will drive demand for additional non-alcoholic beverages, health and energy drinks, juices, and immune booster drinks.
Why are liquid cartons Packaging expected to grow at the fastest CAGR?
The liquid cartons market is expected to be worth $46.0 billion by the end of 2030. Liquid cartons are commonly used to protect both fresh and long-lasting liquids. It allows for the safe transportation of beverages while maintaining their freshness, nutritional content, and freshness.
Customers choose safe and dependable packaging solutions, which will boost the demand for liquid cartons in the beverage packaging industry.
Why is the Non-alcoholic beverage segment likely to grow rapidly throughout the forecast period?
Non-alcoholic beverages are expected to rise at a nearly 5.2% CAGR from 2022 to 2030, with a market share of 57.5% in 2030.
The Covid-19 epidemic has changed consumers’ perceptions of wellness, self-care, and willingness to embrace a healthy lifestyle. Therefore the demand for non-alcoholic beverages will rise.
Why will the metal material category increase so quickly throughout the predicted period?
Metal packaging’s resilience and convenience are driving the segment’s expansion. Aluminum or steel can be utilized for beverage containers. Both are used for packaging in the case of non-alcoholic beverages. The chemical compatibility of the product and the kind of packing material is crucial to the product’s quality. Because aluminum and steel are inert in reactivity with non-alcoholic beverages, they are the best materials for their packaging.
Which region has promising opportunities in the beverage packaging market?
The Asia Pacific is one of the beverage packaging market’s developing regions. The research considers countries such as China, India, Japan, Thailand, Indonesia, Australia, and New Zealand. As a result, market growth in this area is likely to be rapid.
Several forms of packaging are favored in the region, including flexible and rigid plastic, paper, glass, and metal packaging. The beverage industry’s demand is increasing as the population grows.
High industrial expansion, urbanization, environmental concerns, increased discretionary income, and decreasing production of fresh food and beverage goods are propelling the rise of processed food and beverage products, boosting demand for beverage packaging in this sector.
The bulk of the market share for beverage packaging material is consolidated among big and medium-sized localized manufacturers.
Due to the rising demand from the beverage sector, the leading manufacturers operating in the beverage packaging market are attempting to focus on new product launches, acquisitions, expansion, and innovation.
Some of the key developments that have taken place in the Beverage Packaging Market include:
A list of some of the critical suppliers present in the market are:
Market Segments Covered in Report
By Region and Country:
Global Beverage Packaging Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Material, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|