Beverage Packaging Market: Current Analysis and Forecast (2021-2027)

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.

Alcohol consumption increased in low- and middle-income countries, while consumption in high-income countries remained flat or decreased significantly, particularly in Europe. Between 2010 and 2017, the highest increase was in Vietnam, where per capita intake went up 90 percent, from 4.7 liters to 8.9 liters. On the other end of the spectrum, Azerbaijan recorded an 82% decrease in alcohol use. Moldova has the highest alcohol intake (15 liters per adult per year), while Kuwait has the lowest (0.005 liters per person per year). Owing to this high demand for alcoholic beverages, the market for beverage packaging has been witnessing an upsurge all over the world.

Furthermore, with the rising concerns over the degrading environment, many of the leading packaging manufacturers are adopting biodegradable and eco-friendly packaging solutions which are causing significant attraction among the consumer globally. This has helped many bands to create a loyal and responsible customer base, thus increasing the sales of their products as packaging designs play a vital role in this industry. For example, in December 2019, Tetra Pak launched a plant-based polymer packaging solution for its food & beverage products. Also, as per the Vice President of sustainability, Mario Abreu, over 90% of the customers nowadays look for environmental logos on packaging when they are shopping. Therefore, there is an increase in the number of brands shifting towards sustainable packaging solutions. Thereby, boosting the beverage packaging market.

Based on the packaging type, the market is fragmented into the bottle, can, carton, pouch, and others. The bottle segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027. However, the carton segment is also expected to grow in the forthcoming years.

Based on the material type, the market is fragmented into metal, plastic, glass, paper & paperboard, and others. The glass segment grabbed XX% market share and gathered USD XX Mn in 2027. Moreover, this segment is expected to reach USD XX Mn by 2027 with a growth of XX% CAGR during 2021-2027. However, the metal segment is expected to grow at a considerable CAGR during the forecast period.

Based on the product type, the market is segmented into alcoholic beverages, non-alcoholic beverages, and dairy beverages. The non-alcoholic beverages segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027F.

For a better understanding of the market adoption of the Beverage Packaging Market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC), and Rest of World. Asia-Pacific constitutes a major market for the Beverage Packaging Market industry and generated revenue of USD XX Million in 2020 owing to the growing consumption and production of different types of beverages in Asian countries.

Some of the major players operating in the market are 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, etc. Several M&As along with partnerships have been undertaken by these players to develop a wide variety of beverage packaging solutions.