The rise in demand for sustainable packaging and other major driving factors is expected to favor the rise in the global beverage packaging market
Reports and Insights has published a new report titled, “Beverage Packaging Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Beverage Packaging Market, By Product Type (Liquid Cartons, Beverage Cans, Glass Bottles, Plastic Bottles, Others), By Material Type (Glass, Plastic (HDPE, LDPE, PET, PP), Metal, Paper/Paperboard), By Application (Alcoholic Drinks (Beer, Wine, Spirits, Others), Non-Alcoholic (Fruit Juice, Carbonated/Soda, RTD Beverages, Bottled Water, Tea & Coffee, Milk Products)) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global beverage packaging market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ xx Bn by 2028 with a significant CAGR of xx%.
The beverage industry is one amongst the front-liners where enormous investments are being carried out for development, expansion and technological enhancement. The packaging of beverages, both non-carbonated as well as carbonated, is an intricate technological domain in the Food Processing /Packaging sector.
The conventional revertible glass bottle has paved its way to novel plastic cartons as well as containers. The present trend is to enhance the traditional containers, stretch their share in the bigger market, lengthen the shelf-life of the products, offer higher consumer convenience and eventually to yield economic packages.
The rapid surge in demand for sustainable products as well as rising awareness with regard to the environment together with rising demand for user-friendly and convenient packaging is majorly projected to boost the growth of the global beverage packaging market over the following years. In addition to that, appropriate design and adoption of a beverage package prolongs the shelf life of the beverage, is user-friendly for the users, and conserves the material costs with respect to wastage, which is further estimated to offer major breakthroughs to the beverage packaging market growth in the forthcoming years.
Moreover, the enhanced lifestyles of the population, all across the world, as well as rapid rise in per capita incomes majorly in the emerging economies is further playing a positive role in elevating the demand of packaged beverages. Owing to which, the global beverage packaging market is expected to rise significantly over the forecast period.
Other than that, the swift technological advancements as well as prompt adoption of automation in the manufacturing process of packaged beverages has further enhanced the quality of manufacturing and reduced the production times. Said factors are further anticipated to provide considerable growth to the global beverage packaging market in the coming years.
Reports and Insights Study identifies some of the key participating players in the beverage packaging market globally are Amcor plc, Ball Corporation, Crown Holdings, Inc., Mondi plc, Orora Limited, Reynolds Group Holdings Limited, SIG Combibloc Group AG, Smurfit Kappa Group plc, Stora Enso Oyj, and Tetra Laval International S.A., among others.
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