Beverage Packaging Market Overview:
The Beverage Packaging Market is valued at around USD 104.8 billion in 2022 and is expected to reach USD 156.7 billion by 2030, registering a CAGR of 4.1% over the forecast period. Utilizing beverage packaging allows for the safe storage, preservation, and delivery of beverages without compromising their flavour or quality
Beverage Packaging Market Trends:
Growing Use of Eco-Friendly and Sustainable Packaging:
One important issue influencing the global market for beverage packaging is sustainability. Beverage firms have adopted sustainable packaging solutions due to stringent regulations connected to plastic waste and increased customer awareness of environmental issues. This covers the creation of packaging choices that are compostable and biodegradable as well as the usage of recyclable materials like PET and glass. The focus on sustainability also includes lowering the carbon footprint of beverage packaging by using eco-friendly production methods, lightweight designs, and efficient transportation. The application of circular economy concepts, such as material reuse and recycling, has also grown in popularity.
New Trends in Wellness and Health
The market for beverage packaging has been greatly impacted by the worldwide trend toward better living and growing consciousness of the effects of beverage choices on health. Customers who are concerned about their health are looking for drinks that are low in sugar, made with natural components, and have practical uses. Packaged water, real fruit juices, herbal teas, and functional beverages have all become more popular as a result of this trend. The preservation of the nutritional value and freshness of these items is greatly dependent on the beverage packaging. Aseptic packaging, which preserves beverages without the need for preservatives, is one example of an innovative packaging technology that has gained popularity. Additionally, in order to appeal to consumers who are concerned about their health, container designs frequently feature health-related information, such as calorie counts and nutritional labels.
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Limitations on the Market:
It is anticipated that one of the main restraints would be the rising cost of the raw materials used in beverage packaging. The most favored raw material for beverage packaging is plastic. The rising costs of raw materials used to make plastics, however, are predicted to limit the market's expansion somewhat for beverage packaging.
The development of the beverage packaging market is anticipated to be hampered by the lack of skilled workers to operate the sophisticated packaging equipment utilized throughout the food and beverage industry. Furthermore, it is anticipated that the beverage packaging solution's high maintenance costs may impede market expansion.
The Beverage Packaging Market – Segmentation:
On the basis of packaging material, the Beverage Packaging Market is bifurcated into:
- Glass
- Metal
- Plastic
- Paperboard
- Others
On the basis of beverage type, the market is segmented into:
- Alcoholic beverage
- Non-alcoholic beverage
- Others
On the basis of packaging type, the market is segmented into:
- Bottles
- Cans
- Carton
- Others (pouches and bag-in-box)
The Beverage Packaging Market –Regional Analysis
Europe dominated the global Beverage Packaging Market, for beverage packaging has grown as a result of the rising demand for regionally produced and branded beverages in these areas. India and China have contributed significantly to the expansion of the beverage packaging market among these nations.
Over the course of the prediction, the Chinese market will expand by 1.4 times. Over the course of the forecast period, the market for beverage packaging in India is anticipated to expand at a compound yearly growth rate of 5.6%. According to the Indian Beverages Association, the demand for bioplastics and PET bottle packaging in India will increase as more ecologically friendly substitutes and recycling facilities are made available to consumers. This will contribute to the Indian beverage industry's continued growth.
Top Key Players in the Beverage Packaging Market:
- Crown Holdings, Inc
- Ardagh Group S.A
- Ball Corporation
- Gerresheimer AG
- Berry Global Inc
- Beatson Clark Ltd
- Tetra Pak Group
- Owens-Illinois, Inc
- Toyo Seikan Group Holdings, Ltd
- Silgan Containers LLC
- Vidrala S.A
- Nampak Ltd
- BA Glass Germany GmbH
- Orora Packaging Australia Pty Ltd.
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The Beverage Carton Packaging Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the beverage carton packaging market include Tetra Pak, Victory Packaging, BevSource, Westrock, Temple Packaging.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Beverage Carton Packaging Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/beverage-carton-packaging-market/download-sampleMarket DynamicsRising concerns over polymer waste and its harmful impacts on the environment, coupled with increasing demand for beverages is driving the beverage carton packaging market.
Changing lifestyles, coupled with an increasing focus on convenience is likely fuelling the demand for beverage carton packaging.
However, the availability of alternative technology offers the threat of substitution and hamper the market’s growth.
