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).
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
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.
|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|
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
|Restraints & Challenges:||
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
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.
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.
Beverage packaging materials come in many different forms. With advances in technology, different types of plastics and polymers are being used to manufacture bottles, caps, tops, and containers. Most beverage packaging is created with a view toward protecting the environment from recycling waste, as well as creating appealing and functional merchandise. As consumers become more environmentally conscious, eco-friendly beverage packaging will be an ever increasing segment of the beverage industry. One type of ecofriendly product introduced to the market that has become extremely popular is recyclable plastic beverage packaging. Reusable and recyclable plastics have become popular because they offer a cost effective way to package products.
Increasing demand for beverage is driving growth of the beverage packaging market. Growing consumption of sports drinks and rising adoption of advanced packaging is again fostering growth of the beverage packaging market. For instance, in March 2021, Graphic Packaging International, a leading provider of paper-based packaging solutions launched recyclable paperboard packaging solution for beverage brands: Cap-It. It is a clip with neck rings designed for multipack Polyethylene terephthalate (PET) or recycled PET bottles. Produced from renewable materials, the paperboard solution offers an alternative to traditional shrink film packaging, increasing overall pack recyclability to 100%.
The growing demand for eco-friendly product packaging is expected to bring new market opportunities in the near future. For instance, in February 2020, Numi Organic Tea introduced its new plant-based packaging that features a bright, bold, ingredients-focused look. New packaging is more eco-friendly and produced from 90% post-consumer waste paper cartons, soy-based inks, and biodegradable Manila hemp tea bags. Thus, the growing demand for eco-friendly product packaging is propelling the market growth.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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