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Beverage Packaging Market to Record Steady Growth by 2026 | Key Players are Crown Holdings, Inc, Ardagh Group S.A., Verallia SA, Tetra Pak Group, Ball Corporation

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Beverage Packaging Market to Record Steady Growth by 2026 | Key Players are Crown Holdings, Inc, Ardagh Group S.A., Verallia SA, Tetra Pak Group, Ball Corporation

April 25
21:34 2022
 Beverage Packaging Market to Record Steady Growth by 2026 | Key Players are Crown Holdings, Inc, Ardagh Group S.A., Verallia SA, Tetra Pak Group, Ball Corporation
MarketsandMarkets™
The global beverage packaging market was valued at USD 148.1 billion in 2021. It is projected to grow at a CAGR of 5.0% and reach USD 189.0 billion by 2026.

The report Beverage Packaging Market by Packaging Type (Bottle, Can, Pouch, Carton), Material Type (Glass, Plastic, Metal, Paper & Paperboard), Product Type (Alcoholic Beverages, Non-Alcoholic Beverages, Dairy Beverages), and Region – Global Forecast to 2026″ Beverage packaging helps in protecting the beverages and extend its shelf-life. It further acts as an effective tool for marketing and attracting the attention of consumers. The global beverage packaging market was valued at USD 148.1 billion in 2021. It is projected to grow at a CAGR of 5.0% and reach USD 189.0 billion by 2026.

Beverage Packaging Market

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Opportunity: Increasing use of biodegradable and renewable raw materials

The increasing awareness of environmental safety among consumers and the rising adoption of eco-friendly products provide manufacturers of beverage packing products with immense opportunities. According to a study conducted by National Retail Federation, 69% of participants in North America are ready to pay a premium price for recycled products, while 80% of participants want to know the origin of products they buy. Bioplastics are polymers obtained from renewable sources, such as corn starch, woodchips, vegetables, and fatty oils.

By packaging type, the bottle segment is estimated to hold the largest share in the beverage packaging market

The global market includes five major packaging types: bottle, can, pouch, carton, and others. The others segment includes bulk and draught containers for a large volume of packaging. Packages are used according to the beverages that are served. Alcoholic beverages are served in bottles and cans, whereas non-alcoholic drinks are mostly served in bottles. The increasing consumption of non-alcoholic beverages is anticipated to rise the demand for bottles in beverage packaging. Bottles also offer great convenience in carrying and storage making it a preferable choice by consumers. These factors are projected to foster the demand of bottle packaging in the global market.

The increasing demand for beverages such as carbonated soft drinks, beer, wine, amongst others, in the Asia Pacific countries, drives the regions growth rate at a higher pace.

Asia Pacific is one of the emerging regions for the beverage packaging market. Countries such as China, India, Japan, Thailand, Indonesia, Australia, and New Zealand are considered for the purpose of the study. Therefore, the growth of the market is expected to be high in this region. Many types of packaging are preferred in the region, such as flexible, rigid plastic, paper, glass, and metal packaging. The demand from the beverage industry is growing due to the rise in population. Global players such as Ball Corporation (US) and Crown Holdings Inc (US) are entering into the Asia Pacific market by developing new manufacturing plants in the region. This led to the rise of the packaging market for beverages. High Industrial growth, urbanization, environmental concerns, high disposable income, and lower production of fresh food & beverage products are driving the growth of processed food & beverage products, consequently fueling the demand for beverage packaging in this sector.

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Key players providing packaging formats to the beverage industry include major players such as 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). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

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