Global Beverage Packaging Market is Expected to Foresee Significant Growth during the Forecast Period. Asia-Pacific to Witness the Highest Growth

Global Beverage Packaging Market is expected to reach a market valuation of above USD 192 billion by 2027 expanding at a reasonable CAGR of around 6% during the forecast period (2021-2027) from around USD 136 billion in 2020. Beverage Packaging is an important aspect of the beverage industry as it plays a vital role in protecting and extending the shelf life of various beverages. The packaging is done by using different types of raw materials and pack types.

Packaging plays an important role in the widespread consumption of different types of beverages. The beverage packaging market is witnessing an uptick across the globe owing to the growing consumption of different types of alcoholic and non-alcoholic beverages as these are packaged in varied materials and sizes. The popularity of alcoholic beverages has been significantly increasing among the young population and thus, its consumption is rising. For instance, according to the 2019 national survey on Drug Use and Health (NSDUH), nearly 85.6% of the people aged between 18 and older reported that they drank alcohol at some point in their lifetime and 69.5% reported that they drank alcohol in the past year. Therefore, being a consumer-end market, the demand for beverage packaging has been rising significantly.

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Furthermore, the rapid advancement in technology and soaring demand for innovative packaging solutions is also leading to the increase in R&D activities along with the trials of new materials for developing various effective packaging solutions by many industry leaders. For example, polyethylene furoate (PEF) is being looked upon as an alternative to polyethylene terephthalate (PET) as it offers a higher gas barrier for CO_2, O_2, and water vapors. It also provides the benefit of a significant reduction in greenhouse gas emissions as compared to PET.

Based on packaging type, the market is segmented into the bottle, can, carton, pouch, and others. The bottles segment dominated the beverage packaging market and grabbed XX% market share in 2020 and will witness a considerable CAGR of XX% during the forecast period (2021-2027F) owing to the strong demand for bottles among the consumers. However, the cartons segment is also anticipated to witness a considerable growth during the forecast period.

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Based on material types, the global beverage packaging market is segmented into metal, plastic, glass, paper & paperboard, and others. The glass segment occupied a substantial share and is expected to grow at a CAGR of XX% during the forecast period 2021-2027 as this material is being widely used for beverage packaging. However, the metal segment is also expected to grow with the substantial CAGR in the upcoming years.

Additionally, the report provides detailed report also provides insights into the global beverage packaging market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. Asia-Pacific dominated the market and generated revenue of USD xx billion in 2020 owing to the rapidly growing population coupled with the rising consumption of functional beverages.

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Amcor PLC, Crown Holdings, Ardagh Group, Mondi PLC, RPC Group PLC, Tetra Laval International SA, Berry Global Inc., Ball Corporation, Sonoco Products Company, Toyo Seikan Group are some of the key players operating in the global beverage packaging market. Several M&As along with partnerships have been undertaken by these players to develop various types of packaging solutions.

Global Beverage Packaging Market Segmentation

Market Insight, by Packaging Type

• Bottle
• Can
• Carton
• Pouch
• Others

Market Insight, by Material Type

• Metal
• Plastic
• Glass
• Paper & Paperboard
• Others

Market Insight, by Product Type

• Alcoholic Beverages
• Non-Alcoholic Beverages
• Dairy Beverages

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• Amcor PLC
• Crown Holdings
• Ardagh Group
• Mondi PLC
• RPC Group PLC
• Tetra Laval International SA
• Berry Global Inc.
• Ball Corporation
• Sonoco Products Company
• Toyo Seikan Group