Beverage Packaging Market to Hit $133.3 Bn, at 5.6% CAGR, by 2026, Globally: Says Allied Market Research
The growth of the global beverage packaging market is driven by increase in demand for convenience packaging, rise in consumption of bottled water, and surge in adoption of automation in beverage packaging.
Wilmington, Delaware, Nov. 06, 2023 (GLOBE NEWSWIRE) — Allied Market Research recently published a report, titled, “Beverage Packaging Market by Packaging Material (Glass, Metal, Plastic and Paperboard), Beverage Type (Alcoholic Beverages and Non-Alcoholic Beverages), and Packaging Type (Bottle, Can, Cartons and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026“. According to the report, the global beverage packaging industry was pegged at $86.1 billion in 2018 and is projected to reach $133.3 billion by 2026, registering a CAGR of 5.6% from 2019 to 2026.
Request Sample PDF: https://www.alliedmarketresearch.com/request-sample/6203
Drivers, Restrains, Opportunities
The growth of the global beverage packaging market is driven by increase in demand for convenience packaging, rise in consumption of bottled water, and surge in adoption of automation in beverage packaging. However, implementation of plain packaging for alcoholic and sugary drinks restrains the growth to a certain extent. Nevertheless, the introduction of bio-plastics for beverage packaging and use of recycled plastic for beverage packaging are likely to offer lucrative opportunities in the near future.
The bottle segment to dominate the market
On the basis of packaging type, the bottle segment garnered the lion’s share in 2018, accounting for more than half of the global beverage packaging market and is expected to dominate the market throughout the forecast period, owing to the ease of manufacturing and handling of the bottles. However, the cartons segment is expected to cite the fastest CAGR of 6.7% during the forecast period, due to the ability to recycle the cartons.
Buy This Research Report (220 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/checkout-final/7e1a134894315e8d686b453a71e803fe
The non-alcoholic segment to rule the roost through 2026
On the basis of beverage type, the non-alcoholic segment accounted for the largest share in 2018, contributing to more than half of the global beverage packaging market and is anticipated to maintain its dominance throughout the study period. Moreover, the segment is expected to show the fastest CAGR of 6.1% during the forecast period. A significant change in consumer preferences toward healthy beverages and constant developments of new beverages drives the segment.
Asia-Pacific held the largest share in 2018
Region-wise, the global beverage packaging market across Asia-Pacific dominated in 2018, contributing to nearly two-fifths of the market. Moreover, the region is expected to manifest the fastest CAGR of 6.2% during the study period. This is due to improvements in lifestyles of population and availability of beverage product differentiations.
Inquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/6203
Major market players
- Mondi plc
- Smurfit Kappa Group plc
- Tetra Laval International S.A
- Stora Enso Oyj
- Ball Corporation
- Crown Holdings, Inc
- SIG Combibloc Group AG
- Amcor plc
- Orora Limited
- Reynolds Group Holdings Limited
Trending Reports in Packaging Industry (Book Now with 10% Discount):
Retort Packaging Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
Flexible Plastic Packaging Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
Clamshell packaging Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
Punnet Packaging Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
Isothermal Packaging Market: Global Opportunity Analysis and Industry Forecast, 2023-2030
Compostable Food service Packaging Market: Global Opportunity Analysis and Industry Forecast, 2023-2031
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Toll Free: +1-800-792-5285
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.