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NEW YORK, Sept. 5, 2022 /PRNewswire/ — The beverage packaging market has grown substantially over the years. To estimate the size of the market, Technavio has tracked the recent trends and developments in the beverage packaging market. The analysts at Technavio have considered various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of the overall scope of the full report.
The report on the beverage packaging market by Technavio expects the market size to increase at a CAGR of 6% and register an incremental growth of USD 75.01 billion between 2020 and 2025. However, the growth forecast could be missed with the market growing slower than expected if the following factors come into play: growing opposition to the use of plastic bottles and the increasing number of campaigns to reduce alcohol consumption.
According to Technavio, the growth of the market is primarily driven by the rising consumption of bottled water.
Consumers worldwide are switching to bottled water from other less-healthy packaged drinks. In addition, rising awareness of waterborne diseases and the growing need for clean drinking water have further increased the demand for bottled water. To capitalize on the growing demand, beverage companies are expanding their product offerings through innovative packaging. All these factors are driving the growth of the market.
“Growing adoption of PET packaging bottles in the alcoholic beverage industry and increasing demand for single-serve, multi-packs, and sustainable packaging will further accelerate the market growth,” says an analyst at Technavio.
The global beverage packaging market is a fragmented market with the presence of many international players, such as Amcor, Ardagh Group, Ball, and Crown, DS Smith, Mondi Group, O-I Glass, Smurfit Kappa Group, Tetra Laval, and WestRock. One of the challenges in the global beverage packaging market is the availability of undifferentiated products such as standardized metal cans for beverages. Vendors in the global beverage packaging market are setting up plants and offices in different geographic locations, which will enable them to serve customers in that region effectively.
Some of the vendors are focusing on launching new variants of beverage packaging. Vendors offer customized solutions as well. However, the market is expected to have moderate growth, and the fixed cost associated with the development of beverage packaging is high. Hence, the threat of rivalry was moderate in 2020 and is expected to remain the same during the forecast period.
The report breaks down the market into the following segments:
Based on the material, the rigid plastics segment is expected to create more revenue in the market. The segment consists of PET, polystyrene, and polypropylene (PP). These are increasingly preferred by end-users owing to various benefits compared to glass such as lightweight, shatterproof, and flexibility.
In terms of region, APAC will emerge as the dominant region, occupying 47% of the global market share. The regional market is mainly driven by the rising disposable income of the population and an increase in the average temperature.
The complete report on the global beverage packaging market offers detailed insights into the potential business segments and regions to invest in over the forecast period. Before making the purchase, we recommend reading our Sample PDF Report.
The beverage packaging market report answers questions such as:
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Beverage Packaging Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market growth 2021-2025 |
USD 75.01 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.92 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 47% |
Key consumer countries |
China, US, Japan, Germany, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Amcor Plc, Ardagh Group SA, Ball Corp., Crown Holdings Inc., DS Smith Plc, Mondi Group, O-I Glass Inc., Smurfit Kappa Group Plc, Tetra Laval International SA, and WestRock Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Material
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Newsroom: newsroom.technavio.com/news/beverage-packagingmarket
SOURCE Technavio
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