Alcohol Packaging Market Worth Nearly US$ 40 Bn and Expected to Grow at a CAGR of over 4.7%

The persistent need to protect consumer interests will drive players in the global alcohol packaging market to innovation. And, it is on the back of innovative products that the market for alcohol packaging will sustain at a 5.5% CAGR during 2017-2025, a recent report by Transparency Market Research (TMR) finds. While this 5% might seem like a fairly competent growth rate, it is significant for a market that was valued at US$ 40 bn in 2017.

The evolution in consumer demand emerges from the growing awareness about alcohol. With exposure, consumers are spread across age groups, demography, and gender. As a result, alcohol companies are having to define consumer requirements categorically. A fallout of this approach invariably results in companies looking at fresh packaging designs to lure consumers, laying the basis for growth in the global alcohol packaging market.

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As we speak of consumerism, it is important to know that user-behavior is typically short-lived, and this is common for global alcohol packaging market. This will push companies to stay on their toes, and grab on anything that can make a difference to their revenue figures.

From new materials to design, alcohol packaging market’s companies are expected to try to their hands on every profitable idea. Results of proven analysts and experts from the industry indicate that the global alcohol packaging market will have potential for business worth US 57.74 bn by the end of the forecast period.

Stacks of designer bottles neatly arranged in modern furniture is the first attraction for a people with interests in alcohol, be it a consumer or a collector. It is sight of light-to-dark colored bitter liquids gleaming out of glass bottles that adds the value of appearance to alcohol. Many companies in the global alcohol packaging market are consistent to with tweaking their design to offer something ‘new’ for their consumers.

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Among several materials available like glass, metal, plastic, paperboard, etc. it is glass and metal that find prominence in packaging. Glass is the most preferred material, accounting for more than 80% share in the global alcohol packaging market, and is sought-after for packing both, beer and liquor. While printing is a tough ask from players manufacturing glass bottles for alcohol, the advantage lies in shaping the bottles, and more importantly preserving the taste of alcohol.

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This release was published on openPR.