DUBLIN, October 31, 2017 /PRNewswire/ --
The "Beverage Packaging Market in Europe 2017-2021" report has been added to Research and Markets' offering.
The beverage packaging market in Europe is forecast to grow at a CAGR of 4.19% during the period 2017-2021 .
The report, Beverage Packaging Market in Europe 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the innovation of lightweight packaging. Lightweight packaging is one of the major trends in the beverage packaging industry in Europe as it helps vendors in reducing the cost of transportation of the products. Beverage manufacturers are also reducing the packaging weight for promoting environmental sustainability and reducing costs across the supply chain. The first way of reducing the weight of packaging is replacing the packaging material already in use with a lighter weight alternative. For instance, Bonfire Wines packages its wine in pouches rather than bottles and has a carbon footprint 70%-80% less than that of bottles. In addition, the pouches store double the amount of wine than bottles.
According to the report, one of the major drivers for this market is the rise in demand for packaging of functional beverages. Functional beverages include ingredients like vitamins, herbs, minerals, amino acids, as well as raw fruits or vegetables. Beverages, such as sports drinks, ready-to-drink (RTD) teas, energy drinks, enhanced water, enhanced fruit drinks, and soy drinks are functional beverages, and their demand has increased multiple-folds in Europe. The UK dominated the market share of energy drinks in Europe by more than 25% in 2016, which is expected to grow further during the forecast period. Also, the Eastern and Western European sports drink category is growing at a rate of 8%-10% annually, with the UK dominating the market every year.
Further, the report states that one of the major factors hindering the growth of this market is the rise in raw material prices. The rise in the prices of raw materials is a major challenge for the beverage packaging market in Europe. The raw materials used for beverage packaging are plastic, metal, and paper. The increase in the prices of these materials affects the manufacturing cost of packaging, in turn, increasing the overall cost of the product. For instance, Sappi, a pulp and paper industry, increased its prices of all European coated as well as uncoated fine papers by 6%-10% in March 2017. The prices were increased for both reels and sheets of paper. This sharp increase in the price is leading to a rise in input costs, thereby shrinking the profit margins of the vendors. In addition, Sonoco, a global provider of packaging products, increased its recycled paperboard prices by around $60 per ton in Europe in July 2017. Therefore, the vendors have no other option than passing this increase in price through the markets, which, in turn, increases the beverage cost.
- Crown Holdings
Other prominent vendors
- Allied Glass Containers
- CCL Industries
- CKS Packaging
- Mondi Group
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Material Type
Part 07: Regional Landscape
Part 08: Drivers And Challenges
Part 09: Market Trends
Part 10: Vendor Landscape
For more information about this report visit https://www.researchandmarkets.com/research/9w6ps8/beverage
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