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Beverage Packaging Market - Overview
Packaging is essential to any food product. It protects, promotes, informs and plays a key role in providing convenience to the consumer. Growing importance for extended shelf life packaging among beverage manufacturers to reduce storage costs is expected to further complement the global beverage packaging market. Growing concerns regarding recyclability of disposed beverage containers has been driving the trend towards usage of sustainable materials in packaging. Increasing R&D to develop packaging products using bio-based materials is expected to yield opportunities to market participants. The market is expected to be challenged by stringent environmental norms associated with usage of plastics and its additives in packaging.
Global Beverage Packaging Market is expected to cross USD 150 Billion Revenue by 2022 with a CAGR of 4% from 2016 to 2022.
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The Beverage industry has come a long way in the past several years. Many brands are offering high-quality beverages that can easily be heated and served on demand. These luxury Beverage brands have reinvented the idea of Beverage as one offering premium quality, ready-to-go meals in a way that is healthy, convenient and sustainable. Consumer are looking for less complicated materials and patterns when it comes to package design. With the rapid rise in e-commerce, manufacturers are focusing on providing safe packaging and spill-proof packaging for beverages. In addition, the consumer preference for aesthetically appealing and attractively designed & labelled beverage packaging is surging across the globe.
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.
Alcoa Inc.
Beverage packaging Market - Segments
Global Beverage Packaging Market is segmented in to three Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Packaging Type: Flexible, Rigid & Semi-Rigid
Segmentation by Materials: Metal, Plastic, Paper and Glass
Segmentation by Products: Bottles, Cans, Pouch and Others
Segmentation by Regions: Comprises regions - North America, Europe, APAC and Rest of the World.
Saint-Gobain S.A., Tetra Laval International S.A., Owens-Illinois Inc., Crown Holdings Inc., Rexam PLC, Ball Corporation, Mondi PLC, Amcor Limited, Reynolds Group Holdings Limited, and Alcoa Inc. are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Beverage packaging market.
Beverage packaging Market - Regional Analysis
On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia Pacific and Rest of the World. The beverage packaging market was dominated by Asia-Pacific. Adoption of advanced packaging technology & consumer awareness as well as rising beer consumption are the factors driving the growth of this market in this region. Asia Pacific was followed by Europe and North America. The Asia Pacific is predicted to grow at a rapid pace in the coming few years.
Beverage packaging Market - Competitive Analysis
Beverage packaging market appears to be competitive with the presence of several large and small players operating in the Beverage packaging Market. These Key players compete based upon pricing, quality, Technology and reputation. Beverage packaging market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. Manufacturers operating in the Beverage packaging market strive to respond to the growing demand for Beverage packaging. The high-quality of packaging materials attracts more customers, having a positive impact on the global market. Moreover, manufacturers mainly ensure to deliver the best quality products based on innovative technologies, and best practices.
Driving Factors
Beverage packaging market is directly proportional to growing demand for various types of beverages. Beverage packaging market is driven by several factors like increase in beverage consumption, and the growing demand for long shelf life of the product. Lightweight packaging material has become an essential factor in the market and has significant influence in beverage bottles and cans segment. Growing concerns regarding use of plastic to reduce the carbon footprint during production, and risk related to metal particles occupying the products, has led manufacturers to adopt paper & paperboard for packaging of various products.
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