Beverage Packaging Market Report 2021: Global Industry Share, Top Key Players

A comprehensive overview of the beverage packaging market is recently added by UnivDatos Market Insights to its humongous database. The beverage packaging market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the beverage packaging market. beverage packaging market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the beverage packaging market at the global and regional levels. The Global Beverage Packaging Market is expected to grow at a CAGR of around 6% from 2021-2027 to reach above US$ 192 billion by 2027.

Market Overview

The demand for beverage packaging has been increasing all over the globe on account of the rising disposable income leading to the surge in consumer spending on various beverages including juices, soft drinks as well as alcoholic beverages. For instance, in Germany, private households spent approximately USD 29.43 billion on alcoholic beverages in 2020. Also, in the same year, consumer spending on juices and other soft drinks was approximately USD 12.47 billion. Owing to these facts, changes in lifestyle and the growing young & urban population all over the globe are propelling the demand for branded and packaged substances.

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Additionally, the surging demand for varied types of beverages led to the increase in beverage manufacturers in different countries. For instance, as per the Ministry of Statistics and Program Implementation (MOSPI) survey, the revenue generated from manufacturing beverages in India in FY 2019 was USD 10.94 billion which is expected to reach USD 11.69 billion by 2023. Owing to these facts, the leading manufacturers in countries export various types of beverages including teas and coffee to foreign markets every year which in turn is increasing the market for beverage packaging.

COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. All industries have suffered some form of loss due to the pandemic and the packaging industry has not been left untouched by this unprecedented crisis of modern times. This industry has its share of challenges due to the COVID-19 pandemic as the lockdown restrictions have resulted in the widespread closure of many production and manufacturing functions. Also, there has been a decline in trade and transportation which has disrupted the supply chains of raw materials because of which the beverage packaging market has witnessed a downfall.

Global beverage packaging market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Packaging Type, the market is primarily fragmented into

• Bottle
• Can
• Carton
• Pouch
• Others

Amongst Packaging Types, the bottle segment of the global beverage packaging market was valued at USD X billion in 2020 and is likely to reach USD X billion by 2027 growing at a CAGR of X% from 2021-2027. However, the cartons segment is also anticipated to witness considerable growth during the forecast period.

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By Material Type, the market is primarily segmented into

• Metal
• Plastic
• Glass
• Paper & Paperboard
• Others

By Material Type, the glass segment dominated the global beverage packaging market and will row at X% CAGR to reach US$ X billion by the year 2027. However, the metal segment is also expected to grow with the substantial CAGR in the upcoming years.

By Product Type, the market is primarily segmented into

• Alcoholic Beverages
• Non-Alcoholic Beverages
• Dairy Beverages

By product type, the non-alcoholic beverages segment garner a significant share of the global beverage packaging market and will row at X% CAGR to reach US$ X billion by the year 2027.

Beverage Packaging Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
• Rest of the World

Geographically, the Asia-Pacific region dominated the beverage packaging market with almost US$ X billion revenue in 2020 owing to a rise in beverage consumption in different countries.

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The major players targeting the market includes

• Amcor PLC
• Crown Holdings
• Ardagh Group
• Mondi PLC
• RPC Group PLC
• Tetra Laval International SA
• Berry Global Inc.
• Ball Corporation
• Sonoco Products Company
• Toyo Seikan Group

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the beverage packaging market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the beverage packaging market?

• Which factors are influencing the beverage packaging market over the forecast period?

• What are the global challenges, threats, and risks in the beverage packaging market?

• Which factors are propelling and restraining the beverage packaging market?

• What are the demanding global regions of the beverage packaging market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

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