Beverage Packaging Market - Forecast(2021 - 2026)

 Beverage Packaging Market Overview:

Pursuit of the on-the-go lifestyle has affected our consumption pattern and one sector prominently leveraging over this stride is the beverage industry. Compactness and mobility in terms of packaging of products are the tendencies being offered by the brewing sector to create additional revenue avenues. As per a report by Kirin Beer University, global beer consumption in 2017 was estimated to be 186.72 million kiloliters.[1] And if we trace the non-alcoholic beverages revenue, PepsiCo reported annual revenue of $63,525 million in the same year.[2] Increasing beverage consumption has generated demand for efficient beverage packaging trends with provisions such as longer shelf life, aroma retention, heat insulation, sealing and barrier against moisture. Such demands has driven the beverage packaging market size to reach a staggering $113 billion as of 2018. With beverages consumption not just confined to be a relishing act but taking over as an integral part of culture coupled with ideas of ‘weekend’ and ‘party-culture’, has been disrupting the beverage packaging market to be progressing at a global CAGR (compound annual growth rate) of 4.2% during the forecast period of 2019 – 2025.

 

Beverage Packaging Market Outlook:

After an acute analysis of the regional beverage packaging market share, APAC was reckoned to be the leading terrain in terms of global demand. This region with India and China as major components generates 24% of the global beverage packaging market demand. Such supremacy can be validated via several facts:

·         Asia is globally leading as the largest beer-consuming region. It retained its monopoly for the tenth consecutive year in 2017, by encapsulating 33.7% share of the global beer market.[3]

·       Similarly in the non-alcoholic beverages sector, strong market penetration is owned by India. As per the findings by the India Brand Equity Foundation (IBEF), India is estimated to be Coca-Cola’s top three market in volumes by 2021. It occupies the sixth spot as of 2018 and is targeted to be fifth by the end of 2019.[4]


Beverage packaging market is segregated into various types such as bottle, can, pouch, and carton. Among these, bottles and jars lead the application segment, progressing with an application CAGR of 3.2% going through 2025. Plastic and glass jars & bottles are generally preferred over metal can and paperboard pouch and carton due to their ease of installation in refrigerators for cooling and strength it delivers during handling and logistics operations.

 

Beverage Packaging Market Trends and Growth Drivers:

Beverages from retail shelf to e-commerce virtual carts-

Leveraging on investments made in digital capabilities and e-commerce some of the beverage market players are recording considerable revenues over their products augmenting the adjacent beverage packaging market growth. PepsiCo recorded $1B in annualized retail sales from e-Commerce in 2017.[5]

Brand extension generating more packaging demand-

Some of the key players in the beverage sector are extending their portfolio by adding variants apart from carbonated drinks. Recently, Coca-Cola, tracing the demand for fruit-based beverages in future, partnered with agriculture companies like Jain Farm Fresh Foods Ltd. (India), among others, to provide more fruit-based beverages in line with consumer preferences. The more the line of products the greater will be the demand for packaging.

 

Beverage Packaging Market Challenges:

Ecological concerns regarding the implementation of plastics, papers and metals as an integral and imperative material for beverage packaging is a major concern for packaging industries. Apart from ecological concerns, fluctuating import tariffs as a consequence of trade wars also hamper international markets. For example- US  increased tariffs on steel and aluminum imported from China which affected the Coca-Cola canned products market.


To counter the ecological concerns, beverage packaging players are diverting towards biodegradable and recyclable packaging materials. PepsiCo in merger with leading universities, governments and innovators is in quest for developing biodegradable film resins that meet the sustainable flexible packaging needs by 2025. Flexible bags and pouches made up of resins are anticipated.


Local manufacturing entities are savior when it comes to tackle import tariffs induced by governments.

 

Beverage Packaging Market Players Perspective:

Some of the key players operating the beverage packaging market are PepsiCo Inc., Coca Cola Company, JBS USA, Tyson Foods Inc., Ball Corporation, Crown Packaging Inc, Intrapac International Corporation, Amcor Ltd., and Others.


Fair trade regulator CCI approved the acquisition of Signode Industrial Group Holdings (Bermuda) Ltd by packaging company Crown Holdings. Signode main products include steel and non- metallic strapping as it delivers secured packaging solutions. Crown's principal products contain steel and aluminum cans for food, beverage, and domestic and other consumer products, glass bottles for beverage products, and metal vacuum closures and caps.

 

Beverage Packaging Market Research Scope:

The base year of the study is 2019, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the beverage packaging market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various materials in beverage packaging market, and their specific biological uses.

 

Beverage Packaging Market Report: Industry Coverage

By Material: Glass, Plastic, Metal, Paperboard

By Type: Bottle, Can, Pouch, Carton

By Geography: Asia-Pacific, Europe, South America, Africa

 

The Beverage Packaging Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

•           North America: The U.S., Canada, Mexico

•           South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

•           Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark

•           APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

•           Middle East and Africa: Israel, South Africa, Saudi Arabia

 

Key Questions Addressed in the Beverage Packaging Market Report

1.         Is the market for the contraceptives growing? How long will it continue to grow and at what rate?

2.         Which type of systems presents the major growth opportunities?

3.         Is there a possibility for change in the market structure over time? 

4.         Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?

5.         Do the key vendors look for partnerships to expand their businesses with respect to geography or product?

6.         What are the short-term, long-term, and medium-term growth drivers for the market?

7.         What are the short-term, medium-term, and long-term challenges for the market?

8.         What are the short-term, medium-term, and long-term opportunities for the market

9.         Who are the top players/companies of the market?

10.       What are the recent innovations in the market?

11.       How many patents have been filed by the leading players?

12.       What are the types of patents filed by the leading players?

13.       What is our Vision 2030 for beverage packaging market?

 

A few focus points of this Research are given below:

•           Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies

•           Provide an overview of the product portfolio, including product planning, development, and positioning

•           Discuss the role of technology companies in partnerships

•           Explore the regional sales activities

•           Analyze the market size and giving the forecast for current and future beverage packaging market during the forecast 2019–2025

•           Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures.

For more food and beverage related reports, please click here

Comments

Popular posts from this blog

Philippines Air Conditioning Market - Forecast(2021 - 2026)

Animal Nutrition Market - Forecast(2020 - 2025)

Ancient Grains Market - Forecast(2021 - 2026)