Beverage packaging is a kind of container usually made of plastic, glass, metal, paper etc.
The global beverage packaging market, valued at over US$ 116 billion in 2017and is poised to reach $161 billion by 2022, is expected to increase at a compound annual growth rate of over 4.52% through 2020 and beyond.
Rising beverage consumption in emerging economies and innovative packaging are the key drivers of the market. Stringent environmental regulations and sluggish demand for beverages are the factors restraining the market growth. Asia Pacific has emerged as a beverage packaging center due to low cost availability of raw materials.
Beverage Packaging Industry Developing Trends:
Shift from glass to plastic:
Plastic bottles are becoming more ubiquitous by the day owing to their advantages over glass bottles. Choosing plastic over glass is an easy decision for manufacturers looking to reduce weight, speed up transportation, and reduce packaging costs
Increasing emphasis on personalization:
Beverage packaging has relied upon the mass production model for years; however, as consumer aspirations shift to personalization and greater customization, brands are adopting collaborative design ideas to cater to the shifting trends.
The key consumption markets locate at developed countries. The EU takes the market share of 31%, followed by North America with 26%. Global consumption market has a quicker growing speed of CAGR 4.65%
Key players in the global beverage packaging market include:
Mondi
Crown Holdings
Ardagh Group
Ball Corporation
International Paper
Bemis
Amcor
Saint-Gobain
Allied Glass
Evergreen Packaging
ZhongFu
SIG Combibloc