According to the current analysis of Reports and Data, the global Beverage Packaging Market was valued at USD 125.3 Billion in 2019 and expected to reach USD 195.68 Billion by the year 2026, at a CAGR of 6.6%. Beverage manufacturers are focusing on offering a superior product with the packing that is eco-friendly, easy-to-handle, and keeps the product new for a long time. Packaging innovations is becoming a norm for beverage companies with smaller package sizes, situational package types, and multi-packs. Different types of products reliant upon the drinks packed using various materials. New trends in drinks packaging are concentrating on the structure modification of materials and the development of new active and intelligent systems, which can interact with the product or its environment, refining the conservation of drinks, such as wine, juice or beer, customer acceptability, and food security. Materials that have traditionally used in food packing include glass, metals (aluminum, foils and laminates, tinplate, and tin-free steel), paper and paperboards, and plastics. The right selection of material plays an important role in maintaining product quality and freshness during distribution and storage. The prospering beverage industry in emerging markets such as Brazil, India, and China, maintained by the presence of large consumer support, is expected to drive the beverage packing market over the forecast period.
The major economies like North America, Europe, and APAC witnessed the increase in usage of beverage can in packaging. Majorly metals and alloys are employed for its manufacturing. The factors environmentally and cost-driven evolution of metal packing into thinner metal gauges (i.e., the weight of the metal in a can), nowadays encouraged by packing waste regulations, which emphasize the minimization of the material used. However, this must achieve without compromising the protective aspects of the package. To achieve this, engineering or design changes are made, such as beading (i.e., rings around can bodies) on food cans and the move to smaller diameter end for some drinking cans (from size 206 to 202 for example).
The increasing significance of preserving the quality of the content has made effective packaging a necessity in the beverage industry. Growing demand for prolonged shelf life has directed drinks manufacturers to accentuate on developing sustainable and durable solutions, which can essentially reduce the storage cost, and complement the industry. A flourishing beverage industry in emerging markets such as Brazil, India, and China, buoyed by the presence of a large consumer base expected to drive the beverage packaging market over the forecast period
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Further key findings from the report suggest
- The plastic beverage packaging market has a major share of 44% in 2019 and expected to come down during the forecasted period due to various regulations implemented by different countries. A new report from the UN Environment and WRI found that at least 127 countries (of 192 reviewed) have implemented some form of legislation to regulate plastic bottles as of July 2018.
- EU strategy on plastics aimed at safeguarding all plastic packaging is reusable or recyclable by 2030; the single-use ban does not cover universal plastic bags or bottles. The bloc, however, says it will focus on plastic bottles separately, and aims to be collecting and recycling 90% of them within the next decade.
- As of 2018, Cartons anticipated witnessing the most promising growth during the forecast period. Cartons primarily made up of paperboard along with a thin layer of aluminum and plastic, which helps in preserving drinks for a significant period. Cartons are observing a surge in demand for packing of milk, juices, and other non-alcoholic drinks, as they conserve the product without the need of adding many preservatives.
- In response to various problems encountered in packing, a trend towards the development of active technologies for food preservation has promoted. Active packing defined as a packaged system designed to deliberately incorporate components that would release or absorb substances into or from the packaged food or the environment surrounding the food and intended to encompass the shelf-life or to maintain or improve the condition of the packaged food
- Key participants include Crown Holdings, Inc., Ball Corporation, Tetra Laval International S.A., Bemis Company, Inc., Sonoco Products Company, Saint-Gobain S.A., Mondi PLC., Amcor Ltd., Reynolds Group Holdings Limited, Stora Enso
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For the purpose of this report, Reports and Data has segmented the Beverage Packaging market on the basis of material, Product Type, Application and region:
Material (Revenue, USD Million; 2016–2026)
- Glass
- Plastic
- Metal
- Paper
- Others
Product Type (Revenue, USD Million; 2016–2026)
- Cans
- Bottles
- Pouches
- Jars
- Cartons
- Others
Application (Revenue, USD Million; 2016–2026)
- Alcoholic
- Non-Alcoholic
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K
- Spain
- Italy
- Rest of Europe (RoE)
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
- Rest of World (RoW)
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Key Questions Answered in the Report:
- What will be the expected revenue growth of the Beverage Packaging market till 2026?
- What key factors are expected to drive revenue growth of the market?
- What are the key drivers, restraints, opportunities, threats, and challenges the market will face in the coming years?
- Which segment and region are expected to account for largest share in the market in the forecast period?
- Which companies are operating in the Beverage Packaging market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
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