MarketThe WorldwideBeverage Packaging Marketwas valued at USD 140.10 billion in 2020 andis estimatedto grow at a compound annualgrowthrate (CAGR) of 5.01% during the forecast period. Beverage packagingmay be asubstantial part ofthe ever-growing beverage industry. The packaging of beveragesmay be acomplex processand also thediversification of beverageslike an alcoholic or non-alcoholic, require different materials and containers. Proper design and adoption of a beverage package extends theperiodof the beverage, is convenient for the users, and savesthe fabriccosts regarding 10;Moreover, the packaging materials utilized for beverages are glass, polymers, metals, paperboardstogether withtheir 160;the employmentof variousmaterialsis determinedas per thetime periodof the beverage, the chemical composition of the beverage, and also thevalue of the beveragethat'sto be packaged.
The increasein theconsumption of non-alcoholic and dairy beverages is projected to bea number ofthe keydrivers forthe expansionofthe worldBeverage Packaging Market. Thereareseveral innovations and developmentswithin thepackaging designs and packaging technology over the last five yearswithin theglobal Beverage Packaging 160;the risein demand for productsmade up ofbiodegradable and renewablestuffpresents lucrative opportunities for the playerswithin the160;the increasein consumption in emerging economies is encouragingthe expansionof the market.
The most importantfactorthat'sobstructing
the accelerometer's market growth isthe implementation of
strict
regulations bythe 160;on plastic 160;as an example, the
ban on single-use plastic in several
nationseverywherethe
planetwill simultaneously influence the Beverage Packaging Market share. The
rising
inclination towards the conservation of natural habitat and environment
might distress the beverage packaging
supply chain, whichsuccessivelyis
probably goingtocut downthe Beverage Packaging Market revenue
over the
assessment period.
The global Beverage Packaging Market is
segmented onthe basisof product, the market of Beverage
Packagingis
divided into Can, Bottle & Jars, Pouch, Carton, and 10;Onthe basisof applications, the marketis divided
into
Alcoholic and Non-alcoholic.
The Bottle & Jars segment dominated the market accounting for around one-third of the global market. it's expected to continue its dominance within the upcoming years because of the strong demand for bottle & jars packaging solutions within the beverage industry. Moreover, bottle & jar packaging allows simple handling of beverages as compared to other shapes and packaging. Carton segment is estimated to witness the very best growth within the market attributable to the increasing adoption of eco-friendly and lightweight packaging within the beverage industry.
The Asia Pacific could be a significant contributor to the global Beverage Packaging Market. China and India are expected to spearhead the Asia Pacific Beverage Packaging Market growth over the forecast period. Countries within the Asia Pacific region, like India, have witnessed rapid penetration of modern retail outlets, especially within the urban areas. quick access to hypermarkets and supermarkets has enabled a rise within the consumption of beverages like soft drinks similar to alcoholic beverages within the Beverage Packaging Market.
Some ofthe majorplayers in theglobal Beverage Packaging Market include Amcor Group GmbH, Tetra Pak Group, O-I Glass, 10;Crown Holdings, Inc, Ball Corporation, Ardagh Group S.A., Verallia SA, Toyo Seikan Group Holdings, Ltd., Vidrala S.A., and CPMC Holdings Limited, among others.