Beverage Packaging Market Surpass $133.3 billion with at 5.6% Growth Rate by 2026

Global Beverage Packaging Market 2019-2026: Business Growth Strategies and Product Experts Ideas by Industry Giants

PORTLAND, OREGON, UNITED STATES, October 27, 2020 /EINPresswire.com/ -- Rise in demand for convenience packaging, surge in consumption of bottled water, and increase in adoption of automation in beverage packaging have boosted the growth of the global beverage packaging market. However, implementation of plain packaging for alcoholic and sugary drinks impedes the growth to certain extent. On the contrary, use of recycled plastic for beverage packaging and introduction of bio-plastics for beverage packaging are expected to create lucrative opportunities in the near future. Global beverage packaging industry was pegged at $86.1 billion in 2018 and is projected to reach $133.3 billion by 2026, registering a CAGR of 5.6% from 2019 to 2026.

The growing environmental problems due to plastic pollution has made it necessary to find alternatives for beverage packaging. In this context, the technological advancements in bio-plastics is projected to create growth opportunities for the market during the forecast period. Moreover, as per the beverage packaging market trends, the replacement of virgin plastic with recycled plastic or rPET is expected to create better opportunities for the beverage packaging companies to curb plastic pollution in the near future.

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The beverage packaging process is an important part of the food and beverage industry. A well-designed package increases the shelf life, quality, and overall sales of the beverage. The beverage packaging utilized for alcoholic and non-alcoholic beverages are glass, metal, plastic, paperboard along with their combinations. The chemical composition of the beverage also helps in determining the type of packaging to be used.

Based on beverage type, the non-alcoholic segment held the largest share in 2018, accounting for more than half of the global beverage packaging market. Furthermore, the segment is expected to maintain its dominance throughout the study period. Moreover, the segment is expected to portray the fastest CAGR of 6.1% during the forecast period. This is due to change in consumer preferences toward healthy beverages and constant developments of new beverages.

Based on packaging type, the bottle segment held the lion's share in 2018, contributing to more than half of the global beverage packaging market. The segment is expected to dominate the market throughout the forecast period. The ease of manufacturing and handling of the bottles drive the growth of the segment. However, the cartons segment is expected to manifest the fastest CAGR of 6.7% during the forecast period. This is due to the ability to recycle the cartons.

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The global Beverage packaging market across Asia-Pacific dominated in 2018, contributing to nearly two-fifths of the market. Moreover, the region is expected to register the fastest CAGR of 6.2% during the study period. This is due to availability of beverage product differentiations and improvements in lifestyles of population. On the other hand, North America is expected to register a CAGR of 5.6% from 2019–2026.

Key Findings of the Beverage Packaging Market :
• By beverage type, the non-alcoholic segment dominated the global beverage packaging market in 2018, in terms of revenue.
• By packaging material, the plastic segment is expected to be the largest production material employed by the beverage packaging market players globally.
• By packaging type, the bottles segment dominated the non-alcoholic beverages sector, in terms of usage.
• By region, Asia-Pacific is projected to be one of the most dominant regions and is expected to witness a high growth rate during the forecast period.

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The major players operating in the beverage packaging industry include 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.

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David Correa
Allied Analytics LLP
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