According to Acumen Research and Consulting, the global beverage container market size is expected to reach around US$ 251 billion by 2026 and growing at noteworthy CAGR around 4.2 % throughout the forecast period 2019-2026.
A rapid technological development and innovations across the packaging industry drive the global market for beverages containers. There are several changes that are expected to change the beverage packing industry in order to transform the market. Various geopolitical scenarios and consumer purchasing patterns have prevented market players from capitalizing on market movements. In order to improve beverages quality, consumer acceptability, and security, developing a intelligent packaging solution that can be inter-related to the product or environment will be key factors on the global market.
The report provides analysis of global Beverage Container market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
The drinking beverage container market is expected to grow by rinsing consumers ' preference for single containers coupled with the continually altering food industry landscape. The growth in the demand can be attributed to container characteristics such as external protection, product support and product handling resistance. Spreading cans and flasks to increase the esthetic attraction of drinks, including fruit juices, sports and power drinks and increased water, is conducive to the growth of enterprise. In conjunction with aggressive marketing campaigns, new product launches are also expected to accentuate the industry growth over the forecast period.
Changing consumer preferences have led to the application of new container materials for aroma retention, strength improvement, thermal stability, moisture protection and recyclability. Increased demand for flexible small containers provides new ways of expanding businesses. Adding new packaging techniques will also enable the market to gain remarkable momentum. In the drinking industry, for example, aseptic beverage packaging has seen high demand as it improves the product shelf life by preserving its nutritional and organoleptic properties.
Drink manufacturers should include esthetic beverage packages as they are visually appealing and attract consumer attention. The most popular choice of manufacturers over the last few years has been recyclable container material, such as aluminum and PET for packaging drinks. Plant-based material has also become a popular choice among drink producers to help reduce their carbon footprint. For example, So Delicious announced in June 2018 a 48-oz biologic plastic flask that offers the same advantages as traditional packaging, while also ensuring its recyclabilité, to launch their organic almonds milk.
Increased concerns about the use of plastics and risk in connection with metal particles that contaminate products have led manufacturers to adopt paperboards for different beverage packaging. WestRock company, for example, has announced that it will be able to launch paperboards to wrap its energy drink product line. The overall landscape of the industry is expected to be remodelled by favorable policies and standards for the use of packaging materials. In accordance with Section 409 of the Federal food, drug and cosmetic act, for example, the FDA regulates packaging materials to annul the negative impact of material on food products.
It is anticipated that stringent environmental regulations will hinder industry growth. For example, "Directive 94/62/EC on packaging waste from the European Parliament and the Council" ensures that the manufacturers take appropriate steps towards industrial waste countering and improving recyclability. The declining market sales of soft drinks and alcohol in recent years and the sluggish growth on other markets for soft drinks in the last five years have also faced other challenges that have hampered the development of this market.
In the global market for drinks, glass is one of the fastest growing segments. Glass's ability to preserve the strength, aroma and savors of drinks makes it the best choice for the alcohol sector. The material is 100% recyclable, which makes it an environmentally desirable packaging option. Six tons of recycled glass indirectly saves six tonnes, reducing emissions of CO2 by one ton. The material is odorless, chemically inert and gas and vapor resistant.
The paperboard segment offers advantages such as lightweight, low-cost, easy handling, high weight strength ratios and recyclability. This material has expanded its environmental nature for all kinds of boobs, including fruits, caffeine, energy, carbonated drinks, etc. Increasing focus on recycling materials, together with improved flexibility and packaging presentation, has improved the use of this material across myriad segments of beverage packaging.
Container Type Outlook
The boxes are expected to see over 4.4 percent increases between 2019 and 2026. Boxes allow safe storage and transport of beverages and offer customized packaging, based on the marketing requirements of the manufacturer. Cartridges offer an extensive shelf-life, minimum leftovers and handiness, one of the main reasons for continuous global carton sales. Customers increasingly opt for biodegradable and eco-friendly packaging which can shift their focus from traditional packaging solutions by drink producers. Government support to the use of low-carbon container materials will also boost the demand for drink cartons significantly.
The total beverage container market accounted for more than 10% of packing. Due to its flexibility and ease of handling nature, the increasing popularity of pouches will promote segment growth. Pouches in different sizes, shapes and colors are available and are extremely popular in children. Flexo printing, shape and structure, cost reductions and convenience are some of the key factors contributing to the segment's growth over time.
More than 40% of the overall beverage container market was for alcoholic beverages. Containers for alcohol drinks play an important role in promoting the alcohol brand. The two key driving factors for the segment's growth are increasing global alcoholic beverage consumption and the focus on recycling. In order to protect the alcohol properties for a longer period, main industries are developing containers. This has increased the demand for sustainable materials to promote the market in containers for drinks.
The drink consumption of non-alcoholic beverages will be more than 3,8% by 2026. The increasing popularity of non-alcoholic beverages like energy beverages and fruit juices will increase overall market for beverage containers. The customers ' inclination towards attractive and sustainable packaging options for their drinks should enhance product penetration in this segment. In addition, increased consumer awareness of the use of sustainable materials has led to organic materials being used in this sector for the packing of their drinks by producers. This will boost the growth of the industry.
By 2026, Asia-Pacific is expected to grow by more than 4 %. Current consumer preference, coupled with a high growth rate, is driving the beverage container market in this region, including China, India, Indonesia, and Indonesia. Due to high demand for glass bottles from the alcoholic beverage industry, the industry is expected to grow. While the increase in non-alcoholic drink containers is mainly driven by the growth in fruit and packaged water consumption.
In the overall beverage container market, Europe accounted for more than 22 percent. The rapid availability and improved production facilities and low cost work in combination with natural resources will increase the growth of the market in container beverage. The European market is driven in large part by changing consumer choice and the need for long beverage shelf life. Government regulations and a ban on certain materials used in container manufacture may however put costs on producers and are few of the factors that hinder market growth.
Global Beverage Container Market, By Material
Global Beverage Container Market, By Container Type
Global Beverage Container Market, By Application
Global Beverage Container Market, By Geography
The market research study on “Beverage Container Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Beverage Container market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
Due to the existence of large market players, the global drinking container market is highly competitive. Ball Corporation, Amcor Limited, Rexam Inc., CLARCOR, Silgan Holdings, Huber Packaging Group, Owens-Illinois, and Ardagh Group have been key players in the industry. Fusions and acquisitions, product innovation and expansion of portfolios are some of the key strategies for improving their market share incorporated by industry participants. In February, for example, Ball Corporation announced its plans to build a single-line manufacturing plant in Paraguay and build the capacity of its Buenos Aires facility. This expansion has enabled the company to meet the increasing demand of beverages on the market in Paraguay, Bolivia and Argentina.
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