The global beverage packaging market size is expected to reach USD 173.26 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.5% during the forecast period. Increasing consumption of beverages coupled with surging demand for convenient and sustainable packaging solutions is estimated to propel the market.
The global beverage packaging market is witnessing a huge demand from alcoholic as well as non-alcoholic beverage segments in emerging economies. The overall market is also observing growth on account of soaring demand for functional drinks. Rapid urbanization and widening base of middle-class population in developing economies are resulting in lifestyles changes, including rise in the demand for beverages.
Bottle & jars were the largest product segment in 2016. However, carton is anticipated to witness the most promising growth over the forecast period owing to burgeoning adoption of active packaging. It helps in extending shelf life of products by utilizing several systems such as moisture absorbers, oxygen scavengers, antioxidants, and antimicrobial agents. It can also facilitate easier processing as well as consumption of the beverage.
Bottle & jars are typically made up of glass and plastic. The demand for plastic bottles is directly supplemented by rising consumption of bottled drinking water and carbonated soft drinks. High-density polyethylene (HDPE) and polyethylene terephthalate (PET) are among the major grades of plastics utilized to manufacture plastic bottles. Phenomenal growth in the single-serve water packaging segment is likely to push the demand for plastic bottles during the forecast period.
The global beverage packaging market is projected to reach USD 173.26 billion by 2025, registering a CAGR of 4.5% from 2017 to 2025
In terms of revenue, bottle & jars were the largest product segment in 2016, accounting for 33.4% of the global market. Rise in demand for bottled drinking water is poised to supplement the demand for bottles & jars
Glass was the most significant material segment in 2016 and is expected to maintain its dominance throughout the forecast period
Asia Pacific was the leading revenue generating region in 2016, while North America is estimated to register the fastest CAGR from 2017 to 2025
Rapid growth in the e-commerce industry is driving the change and demand for packaging
Key players include Mondi PLC; Sonoco Product Company; Bemis Company Inc.; Alcoa Corporation; and Stora ENSO.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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