Industry Background:
Beverage packaging is used in daily life in order to the safe delivery of products and protects goods from damaging. Various benefits of beverage packaging in a product such as prevents damage during transport, can control the size and quantity of a product, can help sell a product and differentiate it from similar products, provides tamper-resistant and others. Due to its various feature of packaging, it is widely preferred in the beverage sector. For instance, according to an article published by the Flexible Packaging Association, the beverage sector in the United States accounted for more than 50% of the packaging market. Hence, the rising number of beverage packaging in alcoholic and non-alcoholic beverage and growing demand for the extended shelf life of products is likely to be a major driver for the global beverage packaging market over the forecast period.
According to AMA, the market for Beverage Packaging is expected to register a CAGR of 4.6% during the forecast period to 2026. This growth is primarily driven by Increasing Consumption of Beverages Coupled with Surging Demand for Convenient and Sustainable Packaging Solutions and Increasing Usage of Beverage packaging in various application such as Alcoholic, Non-Alcoholic, among others.
Globally, a noticeable market trend is evident Growing Consumption of Bottled Water and Increasing Demand for Single-Serve, Multi-Packs, and Sustainable Packaging. The Beverages sector in the Asia-Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Mondi PLC (Austria), Sonoco Product Company (United States), Bemis Company Inc. (United States), Alcoa Corporation (United States), Stora Enso Oyj (Finland), Ball Corporation (United States), Rexam Plc (United Kingdom), Amcor plc (Australia), Reynolds Group Holdings Limited (United States) and Compagnie de Saint-Gobain S.A. (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2019, the Ardagh Group S.A (Ireland) Company has announced the planned expansion of production at its Jacare and Manaus can and end facilities. In addition, these projects also aim to meet its customers' growing demand for infinitely-recyclable and sustainable aluminum packaging.
In April 2019, the Amcor plc (Australia) Company has launched Amite Ultra Recyclable, which is a packaging product and made from high-barrier polyolefin film. In addition, it can reduce a pack's carbon footprint by more than 64 percent. Hence, this launch will increase the product portfolio of the company.
Regulatory Insights:
There is a regulation regarding the packaging of various product. For instance, according to the Food Safety and Standards Authority of India, Regulations provide a detailed list of packaging materials which is widely used in packaging of specific categories of food products. In addition, it also prescribes specific restrictions in their regard. Hence, it is a restraining factor for the beverage packaging market growth to a certain extent.
Market Drivers
- Increasing Consumption of Beverages Coupled with Surging Demand for Convenient and Sustainable Packaging Solutions
- Increasing Usage of Beverage packaging in various application such as Alcoholic, Non-Alcoholic, among others
Market Trend
- Growing Consumption of Bottled Water and Increasing Demand for Single-Serve, Multi-Packs, and Sustainable Packaging
Restraints
- Issue related to Stringent Environmental Legislations regarding Packing Beverage Products
Opportunities
Numerous Countries with Emerging Economies such as China and India are Transforming Unpackaged into Packaged Worldwide
Challenges
Major Concern regarding the Infrastructural Challenges in Developing Countries Such as India and Rising Consumer Awareness regarding the Demand for Eco-Friendly Packaging Solutions
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Beverage Packaging Study Sheds Light on
The Beverage Packaging Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Beverage Packaging industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Beverage Packaging industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.