Aug 25, 2021 (Market Insight Reports) -- The “ Beverage Packaging ” Market report offers qualitative and quantitative insights and a detailed analysis of market size & growth rate for all possible segments in the market. The Beverage Packaging Industry presents a market overview, product details, classification, and market concentration. The report also provides an in-depth survey of key players in the market which is based on various competitive intelligence parameters like company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. The Beverage Packaging Market report provides an in-depth study of SWOT analysis i.e. Strength, Weakness, Opportunities, and Threat to the organization.
The beverage packaging market was valued at USD 132.16 billion in 2019 and is expected to reach USD 205.32 billion by 2025, at a CAGR of 6.2% over the forecast period 2020 – 2025.
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Top Companies in the Beverage Packaging Market: Owens-Illinois Inc., Tetra Laval International SA, Ball Corporation, Ardagh Group, Amcor Limited, Mondi PLC, Verallia SA, Vidrala SA, Vetropack Holding Ltd, Crown Holdings Inc., Silgan Containers LLC, CCL Container Inc., Berry Global Inc. and others.
Key Market Trends:
Alcoholic Beverage is Driving the Market
– The categorization of alcoholic beverages includes wine, beer, spirits, etc. being packaged using formats such as bottles, kegs, cartons, and cans, to name a few. When it comes to Alcoholic beverages, there has been a significant transitioning of the wine industry concerning packaging format has been observed, as the global consumption across still wine has been slowing down. This has led the Unites States-based wineries to drive packaging innovations to cut costs and appeal to younger consumers.
– Therefore, portability and convenience became significant drivers in wine packaging innovation, which led to Bota Box and Black Box to leverage alternative packagings, such as tetra packs and bag-in-box wine and cartons. According to the State Of Wine Industry Report 2020, by Silicon Valley Bank, canned wine in the country has recorded an 80% growth in 2019, despite the 0.5% as an overall share.
– Cans have been observed increasing footprint across other alcoholic single-serve options. Here, the economies of smaller sizes remain the same for cans for 375- and 500-milliliter glass formats. For instance, small-sized bottles and cans, such as 100-200 milliliters, have been holding 90% of beer volume globally.
– Beer's packaging, on the other hand, is highly diverse. The format packaging type preference has been driven by different regions where local laws, regulations, tastes, culture, and other drivers influence the packaging landscape.
Industry News and Developments:
– In July 2020
, Diageo, Johnnie Walker, Smirnoff, and Guinness’s parent company, announced the creation of the 100% plastic-free, paper-based spirits bottle. The bottle is expected to source from sustainable wood and would launch in early 2021.
– In March 2020 , a beverage packaging manufacturer, Canpack, announced plans on adding one billion cans annually to support growing markets in Colombia and Russia. To achieve the same, the company would increase the Columbian facility’s annual capacity by 46% from 1.3 billion cans to 1.9 billion.
– In February 2020 , Ball Corporation is expected to expand United States Metal Can production by 2021. Its specialty beverage can plant would commence operations in Arizona and the northeastern US, in line with the company’s previous commitment to add at least 8 billion units of capacity by the end of 2021.
Influence of the Beverage Packaging Market Report:
-Comprehensive assessment of all opportunities and risk in the Beverage Packaging market.
-Beverage Packaging market recent innovations and major events.
-Detailed study of business strategies for growth of the Beverage Packaging market-leading players.
-Conclusive study about the growth plot of Beverage Packaging market for forthcoming years.
-In-depth understanding of Beverage Packaging market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Beverage Packaging market.
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