What is the Size of Global Beverage Packaging Industry?
Global Beverage Packaging market is growing at a double digit ~CAGR in 2017-2022 and is expected to reach USD ~Bn by 2027.The Global Beverage Packaging Market is largely driven by rising disposable income in developing economies, increasing health awareness among youths and demand sustainable solutions keeping in view health and environmental issues. Global Beverage Packaging Market is at a growing stage. It is a fragmented market with the presence of many e-learning companies.
The packaging market has seen emergence of abundant players in the past 5 years and the industry will further boost owing to the needs and wants of consumers for a more personalized learning platform. Few major global e-learning players are Amcor Group GmbH, O-I Glass, Inc., Crown Holdings, Inc, Ardagh Group, Verallia SA, Tetra Pak Group, Ball Corporation etc. The highest growth is expected from the majorly populated APAC region.
The high growth rate can be attributed to many middle-income groups in developing countries like India, a preferred market for vendors. An increase in awareness and lifestyle changes is the fundamental driver of Packaging market growth. Customers are more likely to remain loyal when their needs are customized. Depending on the size, texture, color, and design of the beverage packaging, the packaging solutions can be customized.
Interested to Know More about this Report, Request for a sample report
Global Beverage Packaging MARKET by Packaging Material
The Global Beverage Packaging market is segmented by Packaging Material. Glass was the most dominant form of provider used in the global beverage market in 2022
Global Beverage Packaging MARKET by Beverage Type
The Global Beverage Packaging market is segmented by Beverage Type into Alcoholic Beverage and Non-Alcoholic Beverage. Non-Alcoholic Beverage was the most dominant in 2022.
Global Beverage Packaging MARKET by Application
The Global Beverage Packaging market is segmented by Application into Food & beverage, Automotive, Pharmaceutical, Chemical, Oil & Lubricant, Building & Construction and Others (includes rubber & plastic, agricultural, and metal fabrication). Food & beverage was the most preferred form of course in 2022 in Global Beverage Packaging market.
Visit this Link :- Request for custom report
Global Beverage Packaging MARKET by Region
The Global Beverage Packaging market is segmented by Region into North America, Europe, Asia Pacific, Middle East & Africa and South America. Asia Pacific held the major market share in Global Beverage Packaging market in 2022.
Competition Scenario in Global Beverage Packaging MARKET
In Global Beverage Packaging Market there are several players operating in the market, and top players account for a substantial share in the market in terms of revenue. The Global Beverage Packaging Market remains highly fragmented, with numerous international, regional, and local vendors. Local manufacturers of beverage packaging products cater to unique, innovative solutions at a price lower as compared to the international vendors, resulting in an intense price battle. The market consists of players like Amcor Group GmbH, O-I Glass, Inc., Crown Holdings, Inc, Ardagh Group, Verallia SA, Tetra Pak Group, Ball Corporation etc.
What is the Expected Future Outlook for the Overall Global Beverage Packaging Market?
The Global Beverage Packaging market was valued at USD ~ Bn in 2022 and is anticipated to exceed USD ~ Bn 2027, witnessing a robust CAGR during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Beverage Packaging market is driven by demand for rising disposable income in developing economies, increasing health awareness among youths and demand sustainable solutions keeping in view health and environmental issues. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
Government has ambitious plans to use digital technologies extensively to strengthen its services, processes, and decision making, as well as its ability to share data with constituents. In line with the changing demand for sustainable and recyclable beverage packaging products, companies have been launching new and innovative products in the market. The present incarnation of package design and corporate responsibility, as well as the near future, are defined by sustainability. Sustainable packaging is emerging to be an excellent investment as well as a healthier choice for the environment. Concerns over the safe handling and recycling of packaging materials have prompted the implementation of new policies and legislation requiring businesses to recover their packaging materials.
With the beverage packaging market gaining momentum, there is a need for continuous innovation for vendors to differentiate their products and drive service adoption among a more comprehensive section of end-users. AI and cognitive learning technologies have started to play a decisive role and are poised to be game-changers in several avenues. During the forecast period of 2022-2027, it is anticipated that the global Beverage Packaging market will grow at a massive CAGR by 2027. Rising concerns about obesity and high sugar intake, is leading many governments to implement plain packaging strategies.
For More Insights On Market Intelligence, Refer to the link below: –
Related Reports by Ken Research: