Beverage manufacturers are increasingly focusing on offering better product with the packaging that is easy-to-handle, eco-friendly and keeps product fresh for a long time. Packaging innovation is becoming norm for beverage companies with smaller package size, situational package types, and multi-packs.
See-through packaging is gaining popularity as manufacturers are producing beverages that are visually appealing, that attracts consumer towards the brand. Recyclable aluminum cans and PET bottles for packaging beverages have been the popular packaging choice of manufacturers for quite long time. Meanwhile, plant-based material for producing beverage packages are also becoming popular among the beverage manufacturers. Consumer are also looking for less complicated materials and patterns when it comes to package design. With the rapid rise in e-commerce, manufacturers are focusing on providing safe packaging and spill-proof packaging for beverages. Growing demand for beverages also drives the adoption of automated packaging machinery that are energy efficient. In addition, the consumer preference for aesthetically appealing and attractively designed & labeled beverage packaging is surging across the globe.
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A recent report collated by Transparency Market Research (TMR) projects the global market for consumer beverage packaging to witness a steady growth. The market is likely to record 5.4% CAGR, in terms of value, between the period 2017 and 2026. Over 65,000,000 tons of consumer beverage packaging are estimated to sold around the world by 2026-end.
North America to Remain Most Lucrative Market for Consumer Beverage Packaging
North America is expected to remain the fastest expanding as well as the most lucrative market for consumer beverage packaging, in terms of value. This is mainly because of robust demand for consumer beverages in the region, along with growing penetration of automation in the beverage packaging industry. However, in terms of volume, sales in Asia-Pacific excluding Japan (APEJ) and North America are projected to register a parallel rise through 2026. APEJ will also remain a key remunerative region for the consumer beverage packaging market, mainly driven by factors such as the emergence of brewing industry, and surging demand for alcoholic beverages in countries such as India and China.
Growing concerns regarding use of plastic on the back of their carbon footprint during production, and risk related to metal particles invading the products, has led manufacturers to adopt paper & paperboard for packaging of various edible products, and beverages are no exception. Paper & paperboard will continue to lead the global consumer beverage packaging market in terms of volume as well as value. In terms of value, between plastic and metal, revenues from the latter will remain relatively larger, while sales of the former will record a comparatively higher CAGR through 2026.
Key Research Findings from TMR’s Report
- In terms of value, containers (plastic containers, metal cans) will continue to be dominant in the global consumer beverage packaging market, followed by boxes and cartons
- Bottled water and carbonated soft drinks are expected to remain leading applications of consumer beverage packaging, in terms of value
Through acquisition of product design-specialized enterprises, and new product launches, vendors in the global consumer beverage packaging market are constantly focusing on enhancing their product portfolio. Key players identified by the report, who actively underpin the market expansion, include Honda Motor Co., Ltd., Generac Holdings Inc., Champion Power Equipment, Inc., Yamaha Motor Co., Ltd., Wuxi Kipor Power Co. Ltd., Hyundai Motor Company, Lifan Industry (Group) Co., Ltd., Briggs & Stratton Corporation, Ryobi Limited, Toshiba Corporation, and Subaru Corporation.
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Consumer Beverage Packaging Market Observes Growth owing to Rising Disposable Income
Packaging plays an important role in the widespread beverage consumption. Different types of beverages are packed in different sizes and materials. Such varieties in packaging are a reflection of the size of the huge packaging market. In addition, the demand for packaging has observed a considerable rise as it is a consumer end market. The growth of the global consumer beverage packaging market is likely to be driven by the rapidly changing lifestyle of people, urbanization, and disposable income.
There has been a shift in preferences of consumers with many moving toward beverages that have long shelf life. This change in preference has resulted in compelling beverage industry to make an offering of convenient and sustainable packaging solution, which also reduces the cost of storage. In an effort to cater to the needs of consumers and to offer them superior quality beverages, packaging companies are coming up with products that resists moisture, provides thermal insulation, and are durable. Riding on the back of such factors, the global consumer beverage packaging market is anticipated to observe considerable growth in the years to come.