According to the latest report by IMARC Group, titled "Beverage Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global beverage packaging market size reached US$ 157.4 Billion in 2022. Beverage packaging is the packing of various types of beverages to increase their shelf life and safeguard them from contamination. It involves packing or storing numerous beverages in bottles, cartons, tetra packs, or pouches. It also encompasses the packaging of several alcoholic beverages in steel or aluminum cans, glass bottles, or plastic containers. It offers protection against oxygen, ultraviolet (UV) exposure, carbonation loss, and microorganisms. It also ensures that beverages in glass or plastic bottles do not spill or break while traveling and during storage and handling. It provides clear information about the contents of the beverage and portrays the brand image correctly.
Global Beverage Packaging Market Trends:
At present, the increasing consumption of carbonated beverages among the masses represents one of the primary factors propelling the growth of the market. Besides this, the rising consumption of alcohol, along with the increasing demand for alcohol in restaurants, bars, and pubs, is contributing to the growth of the market. In addition, the growing adoption of bioplastics or sustainable containers, such as plant fiber tetra packs and recyclable aluminum cans, in beverage packaging is offering a favorable market outlook. Apart from this, the increasing popularity of various energy drinks, which are low in calories and sugars among fitness enthusiasts and gymgoers, is supporting the growth of the market. Additionally, the rising adoption of attractive and innovative packaging by beverage brands is strengthening the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 224.0 Billion by 2028, exhibiting a CAGR of 5.8% during 2023-2028.
- On the basis of the material, the market has been segmented into plastic, metal, glass, paperboard, and others. Presently, glass represented the largest segment in the market.
- Based on the product, the market has been classified into bottles, cans, pouches, cartons, and others. At present, bottles hold the biggest share in the market.
- On the basis of the application, the market has been bifurcated into alcoholic beverages and non-alcoholic beverages (carbonated drinks, bottled water, milk, fruit and vegetable juices, energy drinks, plant-based drinks, and others). Amongst these, non-alcoholic beverages (carbonated drinks, bottled water, milk, fruit and vegetable juices, energy drinks, plant-based drinks, and others) account for the total market share.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Amcor Limited, Ardagh Group, Ball Corporation, Berry Global Inc., Crown Holdings Inc., Mondi plc, Orora Packaging Australia Pty Ltd, SIG Combibloc Group AG, Smurfit Kappa Group PLC, Sonoco Products Company, Stora Enso, and Tetra Laval International SA.
|Base Year of the Analysis
||Material, Product, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Amcor Limited, Ardagh Group, Ball Corporation, Berry Global Inc., Crown Holdings Inc., Mondi plc, Orora Packaging Australia Pty Ltd, SIG Combibloc Group AG, Smurfit Kappa Group PLC, Sonoco Products Company, Stora Enso and Tetra Laval International SA.
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