Beverage packaging is a packaging of beverages which are done by using a bottle, can, pouches, paperboard, and pallets plastic films. The market of the beverage packaging is classified on the basis of dairy beverages, alcoholic beverages, and non-alcoholic beverages.
Global beverage packaging market was valued at US$ 233.21 Billion in 2021, in terms of revenue, exhibiting a CAGR of 5.84% during the forecast period (2022 to 2030).
Drivers
The increasing urban population is one of the key factors driving demand for packaged beverages. According to the United Nation in 2020, at present 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. This is driven by a gradual shift in the residence of the human population from rural to urban areas, combined with the overall growth of the world’s population could add another 2.5 billion people to urban areas by 2050.
Increasing consumption of energy/sports drinks, ready to drink beverages, and flavored milk is expected to drive the market growth. Sports drinks, energy drinks, and iced/ ready to drink tea are gaining tremendous growth over the forecast period. Moreover, retailers are allocating large shelf space for ready-to-drink beverages owing to higher profit margins and growing demand from consumers. Moreover, the increasing availability of such beverages in multi-size packaging is expected to drive the market growth.
Due to spread of Covid-19, there has been a huge impact on the food supply chain. Due to growing number of deaths, the government had imposed strict regulations and lockdown which affected a lot of economies. Global beverage packaging market growth had been negatively influenced by SARS-CoV-2 infection spread during 2020. Stringent lockdown norms, reduced workforce in industries, disruptions in raw material supply chain, and movement restrictions have slowed down the product developmentadversely affecting the beverage packaging market growth.
Figure 1. Global Beverage Packaging Market Value Share (%), By Region, 2021
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Market Restraints
The growing price of raw materials for beverage packaging is expected to act as a major restraining factor. Plastic is highly preferred raw material for the packaging of beverages. However, fluctuating costs of raw materials for producing plastics is estimated to restrict the growth of the beverage packaging market to some extent.
The shortage of trained professionals to handle advanced packaging machinery used across the food & beverage industry is expected to hinder growth of the beverage packaging market. Moreover, high maintenance cost associated with the beverage packaging solution is expected to hamper the market growth.
Beverage Packaging Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 233.21 Bn |
Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
Forecast Period 2022 to 2030 CAGR: | 5.84 % | Forecast Period: | 2022-2030 |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Amcor Limited, Alcoa Inc., Ball Corporation, Crown Holdings, Inc., Owens-Illinois, Inc., Rexam PLC, Reynolds Group Holdings Limited, Ardagh Group S.A., Tetra Laval International S.A., and Compagnie de Saint-Gobain |
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Growth Drivers: |
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Restraints & Challenges: |
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Market Trends
The growing trend of inventing and using different types of beverage packaging with variation in size, quantity material are expected to propel the market growth of the beverage packaging. For instance, in March 2021, Ardagh Group S.A., a leading global supplier of sustainable, infinitely recyclable, metal beverage cans partnered with Bragg Live Food Products, a company engaged in making of Organic Apple Cider Vinegar and introduced a new 16oz glass bottles for apple cider vinegar beverages.
Attractive color, texture, graphics on cans packaging is a growing trend in the market. To attract more consumers and product differentiation, key companies in beverage packaging market are focusing on introducing innovative packaging for metal cans. Various manufacturers of beverage packaging are adopting tactile printing, grooved edges, matte finish, extra glossy surfaces, and embossing for enhancing the appearance of the metals cans. Furthermore, growing focus on on-pack promotions with eye-catching colors and design is expected to propel the market growth.
Figure 2. Global Beverage Packaging Market Value Share (%), By Product Type, 2021
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On the basis of product type in 2021, bottles segment accounted for the largest market share of 63.50% in terms of value, followed by cans and liquid cartons segments respectively.
Recent Developments
Competitive Section
Major players operating in the market include, Amcor Limited, Alcoa Inc., Ball Corporation, Crown Holdings, Inc., Owens-Illinois, Inc., Rexam PLC, Reynolds Group Holdings Limited, Ardagh Group S.A., Tetra Laval International S.A., and Compagnie de Saint-Gobain.
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