Beverage Packaging market: will grow at a CAGR of 4.2% between 2016 and 2021
Zion Research has published a new report titled “Beverage Packaging (Bottle, Can, Pouch, and Carton) Market, By Material (Glass, Plastic, Metal, and Paperboard), for Alcoholic, Non-Alcoholic, and Dairy Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, global demand for beverage packaging market was valued at USD 108.4 billion in 2015, is expected to reach USD 138.7 billion in 2021 and is anticipated to grow at a CAGR of 4.2% between 2016 and 2021.
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Packaging plays an important role in beverage industry. Proficient packaging solutions offer advantages such as disposability, ease of use and improved user experience. These advantages have lead to increase in demand of beverage packaging solutions. The main purpose of packaging is to preserve, protect, and promote the product.
Beverage packaging market is directly proportional to growing demand for various types of beverages. Beverage packaging market is driven by several factors like increase in beverage consumption, and the growing demand for long shelf life of the product. Light weight packaging material has become an essential factor in the market and having significant influence in beverage bottles and cans segment. This is further driven by environmental pressures from government, and low material usage for packages means low costs, which are always beneficial for both brands and retailers. Moreover, stringent government regulation for environmental safety may affect the market growth.
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On the basis of packaging type market is divided into bottles, cans, pouch, and carton. Bottles and cans represented significant share in global beverage packaging market. Material segment includes glass, plastic, metal, and paperboard. Plastic continue to represent the highest growing beverage packaging material due to rising consumer demand and portability. Alcoholic, non-alcoholic, and dairy are key application segment of beverage packaging market.
Beverage packaging market in Asia-Pacific is expected to show massive opportunities for market owing to rapidly growing beverage consumption in the region. Large population coupled with increasing income levels in developing economies such as China and India are expected to drive the beverage consumption in the region. Furthermore, availability of skilled workers, low cost of production and government funding are expected to further boost the market growth in the region. North America was the leading market player in 2015 owing to presence of a large number of key players in the region.
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Ball Corporation, Rexam PLC, Amcor Limited, Reynolds Group Holdings Limited, Saint-Gobain S.A., Tetra Laval International S.A. and Owens-Illinois, Inc. are some of the leading players in the beverage packaging market.
The report segments the global beverage packaging market as
Beverage Packaging Market: Type Segment Analysis
Beverage Packaging Market: Material Segment Analysis
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Beverage Packaging Market: Application Segment Analysis
Beverage Packaging Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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