Northbrook, IL -- (SBWire) -- 03/08/2022 --The beverage packaging market is estimated at USD 148.1 billion in 2021; it is projected to grow at a CAGR of 5.0% to reach USD 189.0 billion by 2026. The rise in demand for sustainable products and awareness regarding the environment coupled with increasing demand for convenient packaging will drive the market demand and growth of beverage packaging globally.
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By packaging type, the bottle segment is estimated to hold the largest share in the beverage packaging market
The global market includes five major packaging types: bottle, can, pouch, carton, and others. The others segment includes bulk and draught containers for a large volume of packaging. Packages are used according to beverages that are served. Alcoholic beverages are served in bottles and cans, whereas non-alcoholic drinks are mostly served in bottles. The increasing consumption of non-alcoholic beverages is anticipated to rise the demand for bottles in beverage packaging. Bottles also offer great convenience in carrying and storage making it an preferable choice by consumers. These factors are projected to foster the demand of bottle packaging in the global market.
By material type, the metal segment is estimated to grow at a higher growth rate in the market.
Resilience and convenience offered by metal packaging is encouraging the growth of the segment. The metal used for beverages can be aluminum or steel. In the case of non-alcoholic beverages, both are used for packaging. The chemical compatibility of the product and packaging material type is critical to the quality of the product. Aluminum and steel are inert in terms of reactivity with non-alcoholic beverages; hence, the most suited material type for their packaging. Metal cans are also used for beer packaging. Can packaging for beer is growing as it has advantages over a glass of eliminating the damage from light and oxidation and keeps the beer fresh for a longer duration. Metal cans and bottles are the popular ways in which beverages are served to customers.
By product type, the dairy beverage segment is projected to grow at the fatsest CAGR in the market until 2026.
Dairy beverages occupy a significant space in the global beverage market and the growing segment of the global beverage market. Dairy drinks are considered ideal as they provide a natural nutritional base to consumers. However, the market for dairy-based beverages remains small, but the demand for these products is expected to witness robust growth in the near future. Packaging plays a vital role in dairy beverages, as it adds value to the brand and attracts the customer. Dairy processors and packaging companies are continuously challenged to create more eco-friendly products that offer convenience to consumers and enable product differentiation to brand owners. These factors are anticipated to propel the growth of global market, during the review period.
The increasing demand for beverages such as carbonated soft drinks, beer, wine, amongst others, in the Asia Pacific countries, drive the regions growth rate at a higher pace.
Asia Pacific is one of the emerging regions for the beverage packaging market. Countries such as China, India, Japan, Thailand, Indonesia, Australia, and New Zealand are considered for the purpose of the study. Therefore, the growth of the market is expected to be high in this region. Many types of packaging are preferred in the region, such as flexible, rigid plastic, paper, glass, and metal packaging. The demand from the beverage industry is growing due to the rise in population. Global players such as Ball Corporation (US) and Crown Holdings Inc (US) are entering into the Asia Pacific market by developing new manufacturing plants in the region. This led to the rise of the packaging market for beverages. High Industrial growth, urbanization, environmental concerns, high disposable income, and lower production of fresh food & beverage products are driving the growth of processed food & beverage products, consequently fueling the demand for beverage packaging in this sector.
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Key players providing packaging formats to the beverage industry include include major players such as Amcor Group GmbH (Switzerland), O-I Glass, Inc. (US), Crown Holdings, Inc (US), Ardagh Group S.A. (Ireland), Verallia SA (France), Tetra Pak Group (Switzerland), Ball Corporation (US), Vidrala S.A. (Spain), Toyo Seikan Group Holdings, Ltd. (Japan), and CPMC Holdings Limited (China). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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Beverage Packaging Market Size, Share, Growth Trends & Global Forecast to 2026
Beverage Packaging Market by Packaging Type (Bottle, Can, Pouch, Carton), Material Type (Glass, Plastic, Metal, Paper & Paperboard), Product Type (Alcoholic Beverages, Non-Alcoholic Beverages, Dairy Beverages), and Region - Global Forecast to 2026