With 5.5% CAGR, Beverage Packaging Market Size to Reach USD 220 billion by 2029

According to Exactitude Consultancy the Global Beverage Packaging Market value is expected to reach USD 220 billion by 2029, growing at a 5.5% CAGR of Between Forecast Period 2023 and 2029. Increasing Use of Bioplastics is a New Growth Trend; Soaring demand for effective packaging solutions to drive the market demand

Luton, Bedfordshire, United Kingdom, March 20, 2023 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Beverage Packaging Market.

The global beverage packaging market size is expected to grow at 5.5% CAGR from 2022 to 2028. It is expected to reach above USD 220 billion by 2028 from USD 136 billion in 2022. The global beverage packaging market is a large and growing industry that encompasses a wide range of products and materials. This market is driven by factors such as changing consumer preferences, increasing demand for convenience, and growing awareness of environmental concerns.

Beverage packaging includes a variety of products such as bottles, cans, cartons, pouches, and bags, and is used to package beverages such as water, soft drinks, juices, alcoholic beverages, and dairy products. The materials used for beverage packaging include plastic, glass, metal, paper, and cardboard.

The market is segmented based on the type of beverage, packaging material, and region. Plastic is the most commonly used material for beverage packaging due to its versatility, light weight, and low cost. However, environmental concerns are leading to a shift towards more sustainable materials such as paper-based packaging and biodegradable plastics.

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Report Coverage

The beverage packaging market research report offers qualitative and quantitative insights on beverage packaging solutions and a detailed analysis of market share, size & growing rate for all possible segmentation in the market.

Along with this, the beverage packaging market report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the adoption trends of beverage packaging solutions by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies of leading market players, macro and micro-economic indicators, and key beverage packaging industry trends.

Regional Insights

In 2021, the Asia Pacific region was the top revenue contributor in the global market. Beverage bottles and cans made up of PET are experiencing tremendous demand in the region due to low costs and flourishing end-user industries such as RTD juices, tea and coffee, and bottled water. The region also holds immense potential on account of increasing demand for beverage packaging from emerging economies for instance China and India.

North America is poised to stake the highest CAGR during the forecast period [2022 to 2028]. The robust manufacturing base of global producers such as Tyson Foods Inc.; PepsiCo Inc.; Nestle; Coca-Cola Company; Kraft Heinz Co.; JBS USA; and Anheuser-Busch InBev in the U.S. is anticipated to promote the demand for plastic packaging. In addition, the rapid expansion of the beverage industry in North America on account of the ‘on-the-go’ lifestyle of consumers is likely to bolster the growth of the regional market over the coming years.

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Key Industry Players

Product launch and packaging innovation to remain key growth strategies

Key market players in the globe are focusing on product launch and innovation in packaging design amidst regulatory variations on the use of plastics. For instance, in January 2020, Ball Corporation, a manufacturer of inclusive range packaging solution, introduced “infinitely recyclable” aluminum bottle line to support its customers amidst regulatory changes on the use of plastic and create a circular economy.

Companies Covered in Beverage Packaging Market Report:

• 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)
• CPMC Holdings Limited (China)

Report Benefits

• Develop business strategies by understanding the trends shaping and driving the Market.
• Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Beverage Packaging Market in the future.
• Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company share of Beverage Packaging Market leaders.
• Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
• Track sales in the global and country-specific Market.
• Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.

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Industry Developments:

• 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.
• 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.
• March 2021 – Graphic Packaging launched a recyclable beverage packaging solution for Cap-it brand. The packaging is designed with paperboard and offers an alternative solution to traditional shrink films. The product is well-versed with multipack of PET bottles, cans and glass bottles.
• December 2020 – Amcor Group GmbH commenced a new venture with Nutrea to deliver its rupro protein juice in a hot-fill (PET) bottle. The new orange juice from Nutrea/Frudelca was available in recyclable bottles in 300ml and 440ml sizes. Amcor was regarded as a critical partner in delivering an innovative packaging solution that met the performance requirements of this new functional venture.

Frequently Asked Questions About This Report

What is the size of the beverage packaging market?

beverage packaging market size is expected to grow at 5.5% CAGR from 2022 to 2028. It is expected to reach above USD 220 billion by 2028 from USD 136 billion in 2022

What is beverage packaging?

Beverage packaging refers to the materials and containers used to store and transport various types of drinks, including water, juices, sodas, alcoholic beverages, and more. The primary function of beverage packaging is to protect the product during transportation, preserve the quality and freshness of the drink, and provide convenience for the consumers.

What is the most common type of packaging for beverages?

Plastic, the biggest benefits of plastic packaging is that it is easily shaped, and durable there’s a reason why PET continue to be one of the most popular beverage packaging options in the market and here other type of packaging Bottle, Can, Carton, Pouch, Other Packaging Type

Which industries use Beverage Packaging Market?

This is used by various industries such as in alcoholic Market such as beer, spirits & wines In non-alcoholic beverages packaging such as water bottles, coffee, tea, soft drinks, dairy products etc.

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