The detailed report published by Market Research Future (MRFR) projects that the global beverage packaging market is marked to exhibit moderate expansion at a CAGR of 6.35% during the forecast period from 2021 to 2028 and generate noteworthy revenue by the end of the review period. High demand for packaged drinks as result of changing lifestyle and dietary habits, rapid adoption of technologically advanced packaging solutions, increased emphasis on manufacturing environment-friendly packaging for beverage, rise in popularity of packaged beverages and coolants among the young population, and increased availability of innovative beverages that are available in ready to drink and carry along packaging are majorly propelling the growth of the global beverage packaging market during the assessment period.
Global Beverage Packaging Market: Segmental Analysis
The global Beverage Packaging Market Growth has been segmented on the basis of packaging type, products, and materials. Based on packaging type, the global beverage packaging market has been segmented into flexible, rigid, and semi-rigid. Based on products, the global beverage packaging market has been segmented into cans, bottles, pouch, and others. The bottles segment commanded the major share of the global beverage packaging market and is anticipated to expand at a significant growth rate during the assessment period. Based on materials, the global beverage packaging market has been segmented into metal, plastic, paper, and others. The plastic segment is projecting the fastest growth in the global beverage packaging market owing to the advantages of plastic bottles in increasing the shelf life of beverages.
Global Beverage Packaging Market: Regional Analysis
Geographically, the beverage packaging industry market share has been segmented into four major regions such as Asia Pacific (APAC), North America, Europe, and the rest of the world (RoW). The North America region commands the major share of the global beverage packaging market during the assessment period. The factors such as high demand for packaged drinks as result of changing lifestyle and dietary habits, rapid adoption of technologically advanced packaging solutions, increased emphasis on manufacturing environment-friendly packaging for beverage, rise in popularity of packaged beverages and coolants among the young population, and increased availability of innovative beverages that are available in ready to drink and carry along packaging are majorly propelling the growth of the global beverage packaging market growth in the North America region. Availability of cheap raw materials, rapid expansion of packaging industry, high demand for packaged drinks, and increasing production of recyclable beverage packaging due to the rise in environmental concerns are fueling the growth of the beverage packaging market in the Asia Pacific region.
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Global Beverage Packaging Market: Industry Updates
In February 2019, the Can Makers has announced that it has merged its operations with the Metal Packaging Manufacturers Association (MPMA).
In January 2019, Rumble Supershakes has announced the relaunch of their beverages with SIG packaging.
In January 2019, Suntory, a Japanese manufacturer of beverage packaging, has launched FtoP Direct Recycle Technology for making PET bottles.
Global Beverage Packaging Market: Key Players
The key players profiled by Market Research Future (MRFR) that are operating in the global beverage packaging market are Crown Holdings Inc., Rexam PLC, Ball Corporation, Mondi PLC, Amcor Limited, Reynolds Group Holdings Limited, Tetra Laval International S.A., Owens-Illinois Inc., and Alcoa Inc. The players in the global beverage packaging market are introducing innovative and environment-friendly packaging solutions in order to expand their businesses in the global beverage packaging market. Strategically planned mergers and acquisitions along with collaborations in multiple projects are aiding these players in sustaining the competition in the global beverage packaging market during the assessment period.
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