NEW YORK CITY, June 14, 2023 /PRNewswire/ — The global beverage packaging market size is approximated to grow by USD 101.59 billion from 2022 to 2027, according to Technavio. The market is approximated to grow at a CAGR of 7.03% throughout the projection duration. APAC is approximated to represent 47% of the worldwide market throughout the projection duration. Technavio’s experts have actually elaborately explained the local patterns and drivers that form the marketplace throughout the projection duration. Packaged drink intake in the area is prepared for to increase throughout the projection duration. Aspects such as the increasing non reusable earnings of the population and an upswing in the typical temperature level will lead individuals to go with packaged drinks such as bottled and canned water rather of faucet water in emerging nations. Furthermore, fast urbanization and increased spending by drink business on marketing and interactions will increase the intake of non-alcoholic drinks in these markets. For circumstances, nations such as China, India, Indonesia, and Thailand will represent over 50% of the incremental development in the intake of drinks. Therefore, some packaged drink suppliers are extending their item portfolio by releasing brand-new versions of packaged drinks, which, in turn, can impact market development in the area throughout the projection duration. For more insights on the historical duration (2017 to 2021) and projection market size (2023 to 2027) – Request a sample report
What’s New?
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Special protection on the Russia–Ukraine war; worldwide inflation; healing analysis from COVID-19; supply chain disturbances, worldwide trade stress; and threat of economic crisis
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Global competitiveness and crucial rival positions
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Market existence throughout numerous geographical footprints – Strong/Active/Niche/Trivial – buy the report!
Beverage Packaging Market – Segmentation Assessment
Segment Overview
Technavio has segmented the marketplace based upon type, Material (Rigid plastics, Glass, Metal, and Others), Product (Alcoholic drinks, Non-liquors, and Dairy drinks), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
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The market share development by the stiff plastics sector will be substantial throughout the projection duration. ANIMAL, polystyrene, and polypropylene (PP) are some stiff plastics regularly utilized in drink product packaging. Compared to other product packaging products such as metal and glass, the marketplace for stiff plastic product packaging is increasing quickly. However, stiff plastic is among the popular kinds of product packaging product, which is favoured by clients due to its different benefits, such as low weight compared to glass. Rigid plastic is likewise unbreakable and versatile, which allows it to be moulded into different sizes and shapes. A healthy way of life drives more customers towards purchasing mineral water. Hence, these elements will drive sector development throughout the projection duration.
Insights on the marketplace contribution of different sectors consisting of nation and area sensible, historical (2017 to 2021) and projection market size (2023 to 2027) – Download a Sample Report
Beverage Packaging Market – Market Dynamics
Key element driving market development
The increasing intake of mineral water is a significant driver for the development of the marketplace throughout the projection duration. The intake of mineral water is broadening in lots of nations such as the United States. The bulk of development in mineral water intake relative to other drinks originates from individuals changing to mineral water from other less-healthy packaged beverages. Growing awareness about waterborne illness and the growing requirement for tidy drinking water likewise increase the need. The increasing need for mineral water has actually motivated some mineral water suppliers to grow their item offerings. For circumstances, In June 2019, All Market revealed the launch of a brand-new environment-friendly aluminium mineral water brand name Ever & Ever. Therefore, the growing variety of item launches in the mineral water sector can likewise affect the need for drink product packaging throughout the projection duration.
Leading patterns affecting the marketplace
Rising need for practical beverages fuels the development of the worldwide drink product packaging market throughout the projection duration. Functional beverages consist of energy beverages along with RTD coffee and tea, and there is an increase in the intake of these practical beverages. In most nations, energy beverages are mainly viewed as a way of life option for millennials as they lead extremely hectic lives. RTD tea and coffee are practical options for individuals with increasing non reusable earnings and a requirement to drink their drinks on the go. For circumstances, in June 2020, PepsiCo revealed the launch of brand-new iced packaged coffees in collaboration with Italian Coffee Company Luigi Lavazza. Similarly, in March 2019, Coca-Cola revealed the launch of its very first energy beverage under the Coca-Cola brand name Coca-Cola Energy. Hence, such item launches in the practical beverages sector can likewise improve the need for drink product packaging options throughout the projection duration.
Major difficulties preventing the marketplace development
Growing opposition to making use of plastic bottles is among the crucial difficulties hampering the drink product packaging market development. Plastic bottles might take control of 800 years to break down in a land fill. Globally, animal bottles contribute greatly to the issue of ecological contamination; thus, lots of companies, companies, and federal governments have actually prohibited making use of plastics. Many nations, such as Australia and Kenya, have actually already prohibited or enforced taxes on making use of plastic bags. For circumstances, in June 2020, the federal government of the Indian state of Tamil Nadu reported releasing a notice prohibiting making use of plastic for food and drink product packaging with instant result. Hence, the growing opposition to making use of plastic bottles is anticipated to impede the development of the worldwide drink product packaging market.
Insights on Market Drivers, patterns, & Challenges, historical duration(2017 to 2021) and projection duration(2023 to 2027)- Request a sample report!
What are the crucial information covered in this drink product packaging market report?
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CAGR of the marketplace throughout the projection duration
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Detailed info on elements that will drive the development of the drink product packaging market in between 2023 and 2027
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Precise estimate of the drink product packaging market size and its contribution to the marketplace in concentrate on the parent market
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Accurate forecasts about upcoming patterns and modifications in customer behaviour
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Growth of the drink product packaging market industry throughout APAC, Europe, North America, South America, and the Middle East and Africa
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An extensive analysis of the marketplace’s competitive landscape and comprehensive info about suppliers
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Comprehensive analysis of elements that will challenge the development of drink product packaging market suppliers
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Beverage Packaging Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic duration |
2017-2021 |
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Forecast duration |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.03% |
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Market development 2023-2027 |
USD 101.59 billion |
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Market structure |
Fragmented |
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YoY development 2022-2023 (%) |
5.72 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 47% |
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Key nations |
United States, China, Japan, India, Germany, Canada, Mexico, Italy, Spain, India, Japan, Australia, and South Korea |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key business profiled |
Amcor Plc, Ardagh Group SA, Ball Corp., Berlin Packaging LLC, Berry Global Group Inc., CANPACK SA, Compagnie de Saint Gobain SA, Crown Holdings Inc., DS Smith Plc, Mondi plc, O I Glass Inc., Pactiv Evergreen Inc., SIG Group AG, Silgan Holdings Inc., Smurfit Kappa Group, Stora Enso Oyj, Tetra Laval S.A., Toyo Seikan Group Holdings Ltd., Vidrala SA, and WestRock Co. |
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Market characteristics |
Parent market analysis, Market development inducers and barriers, Fast-growing and slow-growing sector analysis, COVID-19 effect and healing analysis and future customer characteristics, Market condition analysis for the projection duration. |
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Customization province |
If our report has actually not consisted of the information that you are trying to find, you can connect to our experts and get sectors tailored. |
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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SOURCE Technavio
