Beverage Packaging Market to reach USD 210.32 billion by 2027– Report by Market Research Future (MRFR)
New York, June 17, 2021 (GLOBE NEWSWIRE) — Beverage Packaging Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Beverage Packaging Market Research Report, Type, Service, Technology End User and Region – Forecast till 2027” the market is expected to reach USD 210.32 billion by 2027, at a CAGR of 6.35%
Market Insights
The large investments being made for expansion and technological upgrades are associated with the growth of the beverage packaging market. To improve the features and flavor of the drink, beverages made for consumption all over the world must be packed in a specific way. Furthermore, the package’s design and ease of transportation are likely to improve its overall demand and popularity. Beverage packaging firms these days also focus on ensuring that the units carried of a specific drink can be safely transported to various retailing points as well as exhibited or stacked in an appealing fashion to ensure differentiation from other brands in the market. Beverage packaging must also ensure that the maximum amount of product may be delivered on a single trip without the product leaking or becoming ruined for consumption. These days, the internet-savvy youth expect innovation in the packaging of practically every product, including the beverages they consume.
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The packaging of carbonated and non-carbonated beverages accounts for the majority of the market in the packaging industry. The increase in beverage consumption is the primary motivator for beverage packaging. The rising popularity of energy drinks is projected to drive the beverage packaging industry in the future years. The investment in the development of production capacity by beverage packaging suppliers is predicted to have an overall beneficial effect on the market. Furthermore, advancements in packaging equipment and machinery are expected to boost the market growth. However,in the approaching years, the beverage packaging market is projected to be hampered by stringent government regulations.
Dominant Key Players on Beverage Packaging Market covered are:
- Tetra Laval International S.A.
- Ball Corporation
- Mondi PLC
- Owens-Illinois Inc.
- Saint-Gobain S.A.
- Amcor Limited
- Reynolds Group Holdings Limited
- Crown Holdings Inc.
- Rexam PLC
- Alcoa Inc
Browse In-depth Market Research Report (140 pages) on Beverage Packaging
https://www.marketresearchfuture.com/reports/beverage-packaging-market-1974
COVID-19 Impact on the Worldwide Beverage Packaging Market
COVID-19 has a significant impact on the global food supply chain, including North America, South America, Asia Pacific, Europe, and the Rest of the World. The emergence of COVID-19 has resulted in an increase in the number of deaths and long-term health consequences. Because of this, the government has imposed stringent lockdown measures that have affected all sections of the economy. Governments all across the world have established measures to address the many effects of COVID-19 in order to minimize supply chain disruptions, higher raw material prices, and severe economic ramifications for employees. The COVID-19 scenario has a big impact on Europe and the Asia Pacific, amongst other key regions. This is due to the large number of cases reported in the regions, particularly in Europe’s Spain, France, Italy, and Germany, as well as Asia Pacific’s Japan, China, and South Korea. Companies in several nations are developing environmentally friendly solutions to protect beverages against germ contamination.
Market Segmentation
The global beverage packaging industry has been segmented into packaging types, materials, and products.
By packaging type, the global beverage packaging market has been segmented into flexible, rigid & semi-rigid.
By materials, the global beverage packaging market has been segmented into metal, plastic, paper, and glass.
By products, the global beverage packaging market has been segmented into bottles, cans, pouch and others.
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Regional Analysis
As per the MRFR study, the global beverage packaging market consists of regions like Asia Pacific, North America, Europe and the Rest of the World.
The North American region is likely to dominate the beverage packaging industry. Adoption of cutting-edge packaging technologies, consumer understanding, and rising beer consumption are just a few of the reasons driving the growth of the beverage packaging market in this area. This region is expected to grow at a reasonable rate over the projection period.
Competitive Landscape
With several businesses operating globally, the global beverage packaging industry is highly competitive and fragmented. To expand their worldwide reach and gain a foothold in the global market, the companies employed a range of strategies. The primary strategy of these organizations includes expansions and investments, and acquisitions.
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Segmentation of Market covered in the research:
Information by Packaging Type (Flexible, Rigid & Semi-Rigid), by Materials (Metal, Plastic, Paper, and Glass), By Products (Bottles, Cans, Pouch and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
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