February 19, 2020
According to the research report titled ‘Global Beverage Container Market Size By Material (Plastic, Metal, Glass, Paperboard), By Container Type (Bottles & Jars, Cartons, Cans, Bag-In-Boxes, Pouches), By Application (Alcoholic Beverages [Beer, Wine, Spirit], Non-Alcoholic Beverages [Carbonated Soft Drinks, Bottled Water, Dairy, Juices, Sports Drinks Enhanced Water]), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Russia, China, India, Japan, South Korea, Indonesia, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global beverage container market will witness lucrative growth by the year 2025.
According to the report, increasing consumption of healthier drinks including energy drinks, fruit juices, and non-dairy milk alternatives is a major factor driving the beverage container market growth. The product not only enhances the shelf life of the beverage but also provides aesthetic labelling and designing of packages. This factor coupled with rising R&D activities towards development of innovative products and various package sizes are further aiding the market expansion.
Factors such as reduced landfill waste, malleability, lightweight, and less material consumption of flexible drink containers are also stimulating the industry outlook. Increasing worldwide consumption of alcohol and shifting preferences towards using premium brands are fostering the demand for beverage containers across the globe.
As per material type, the report states that glass segment is expected to grow with a CAGR of 4% during the period of 2019-2025. Glass offers chemically inert and ecofriendly properties and requires no plastic and chemical liners, hence are largely used to enhance customer experience. Thus, aforementioned factors are fueling the segmental growth.
Based on the application spectrum, non-alcoholic applications of beverage containers are presumed to expand significantly by the year 2025. Shifting preferences towards premium drinks and rising capita per income are facilitating the business scenario. Increasing consumption of non-alcoholic drinks due to rising health awareness and evolving lifestyle is also propelling the market growth. Additionally, there has been an upsurge in the demand for low liquor drinks. This factor coupled with increased pervasiveness of health disorders such as diabetes and obesity has enhanced the demand for drinks with less calories, low-salt, and low-sugar, thereby favoring the beverage container market outlook.
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Considering the geographical landscape, Asia-Pacific held 40% share of the beverage container industry in the year 2018. The growth is attributed to high concentration of key industry players and surging investments in innovative & technologically advanced products. Development of clean, functional, and organic label products in order to meet the rising health concerns among young population are also augmenting the regional demand.
The prominent companies operating in the beverage container market are Graham Packaging, Exal Group, Evergreen Packaging, Empaque (Crown Holdings), ProAmpac, Anchor Glass Container Corp., Ardagh group, CLARCOR, Huber Packaging Group, Toyo Seikan Group Holdings, Silgan Holdings, Owens-Illinois, Rexam, Ball Corporation, and Amcor Ltd.
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