BEVERAGE PACKAGING MARKET – GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2021 – 2027)
The Beverage Packaging Market was valued at USD 132.16 billion in 2019 and is expected to reach USD 205.32 billion by 2027, at a CAGR of 5.9% over the forecast period 2021 – 2027.
Beverage packaging uses several types of materials and components, including hard and soft plastics, paper and paperboard, hard metals, glass, closures and labels. With a variety of packages such as bottles, cans, pouches and cartons, the market is expected to continue to grow. Beverage packaging is an interesting area for many innovations, including active and intelligent packaging materials. For example, reactive oxygen scavengers have already been introduced in sensitive beverages such as juices and beer. In addition, new materials from renewable resources are being developed, bringing potential benefits to beverage packaging. For example, PEF is considered a sustainable alternative to PET in the concept of beverage packaging.
The beverage packaging market is projected to grow significantly over the forecast period. Increasing attention to environmentally friendly and biodegradable packaging may increase demand for beverage packaging and continue to drive trends in the beverage packaging market. In addition, the increased adoption of biodegradable, recyclable and compostable packaging materials among producers is expected to grow the market in the near future. Enforcement of strict government regulations on the use of plastics will make market growth even more difficult. For example, the ban on disposable plastics in some countries of the world simultaneously affects the market share of beverage packaging.
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The Top Key Players include Beverage packaging Market:
- 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).
Several competitors in the beverage packaging market are launching products as an important development strategy for growing recyclable beverage packaging production lines. However, packages launched during or in the near future of the COVID-19 pandemic have important requirements, such as product design with a robust sustainability statement, in addition to hygiene and safety concerns. You need to consider. In addition, the number of products that permeate online channels is very prosperous. Therefore, some package designs require major updates, especially if they were originally planned for traditional retail channels.
By type Beverage packaging Market segmented to:
- Non-alcoholic beverages
- Alcoholic beverages
- Dairy beverages
By application Beverage packaging Market segmented to:
- Metal
- Plastic
- Glass
- Paper & paperboard
- Other material type
Region and country level analysis:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
- Asia-Pacific (China, India, Japan, Southeast Asia etc.)
- South America (Brazil, Argentina etc.)
- Middle East & Africa (Saudi Arabia, South Africa etc.)
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Beverage manufacturers focus on providing better products in their packaging that are easy to handle, environmentally friendly and keep their products fresh for extended periods of time. Package innovation is becoming the standard for beverage companies with smaller package sizes, contextual package types, and multi-packs. Different types of products are packed using different materials, depending on the beverage.
The report is aimed at beverage packaging companies, beverage manufacturing companies, raw material suppliers, third-party distributors, research institutes, government organizations, regulatory bodies, and other market participants for general market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market, providing detailed information about the market to make better business decisions.
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In summary, the research bibliography contains a detailed inspection of the Beverage Packaging market by evaluating the various industry segments. In addition, it analyzes this domain by explaining the industry supply chain, recognizing the distribution channel, intermediate consumers and upstream providers, to guide companies in the competent deployment of their products and services.
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