Beverage Container Market to gain significant revenue by 2025

Beverage container market forecast estimates that the glass segment will grow at a 4% CAGR over 2019-2025. Amplifying consumer inclination towards consumption of packaged milk, alcohol, juices, and water is likely to induce substantial beverage container market demand. Consumers are increasingly demanding for improved protection from external environmental factors and extended shelf life. Also, market players are introducing several new products in various packaging sizes to answer the varying demands of drink manufacturers, which will propel beverage container industry growth.

Consumers are exhibiting higher preference towards glass packaging as glass is chemically inert and eco-friendly. Glass containers do not require plastics & chemical liners and hence are considered the most suitable for preserving the original taste and creating special & premium experiences. In 2018, the U.S. glass container industry was registered to ship almost 27 billion units.

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Functional beverages, such as fruit juices, energy drinks, and milk alternatives are gaining traction among consumers, which is expected to push the growth of beverage container industry. Manufacturers of these drinks are demanding for new and different sized packages. Beverage containers help dairy products and juice manufacturers to offer prolonged product shelf life, attractive designs, and labeled packaging.

Millennials are spending highly on exclusive drinks owing to rising disposable income, resulting in huge demand for non-alcoholic beverages. Health awareness among people and transforming lifestyles have further augmented the adoption of non-alcoholic drinks. Beverage container market is likely to witness heavy growth from low liquor drinks, such as craft beer with a wide range of flavors. Increasing prevalence of health disorders, including diabetes and obesity, has enhanced consumption of drinks with low-salt, fewer calories, and low-sugar, which may also generate demand for containers.

Beverage container industry participants are carrying out aggressive research & development activities to introduce innovative products. The development of flexible drink containers, for instance, which provide many sustainable features, such as lesser landfill wastes and minimal material use has been a major milestone in beverage container industry. These containers are malleable and lightweight and are being highly demanded by various drinks manufacturing companies.

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In 2018, Asia Pacific accounted for around 40% of the global beverage container market size. The region houses several major industry participants, who are outlaying massive amounts for introducing innovative packaging solutions and expanding their footprints. Also, increased demand for organic, clean label, and functional drinks among health-conscious millennials in APAC region will provide an impetus to beverage container industry growth.

Surging demand for various types of packaged drinks has pushed beverage manufacturers to use sustainable packaging solutions for improving nutrition integrity and enhancing taste. Many beverage container companies are investing huge amounts to develop sustainable packaging solutions to fulfil the demands of drink manufacturers.

Leading Key Players are

Some of the notable beverage container market players are Rexam Inc., Toyo Seikan Group Holdings, Amcor Limited, Owens-Illinois, Ball Corporation, Silgan Holdings, CLARCOR, Ardagh Group, and Huber Packaging Group. A few more leading industry participants include Ampac Packaging LLC, Liqui-Box Corporation, Crown Holdings Incorporated, Tetra Pak International S.A., and Berry Plastics Corporation. Companies are pursuing various business strategies, such as mergers & acquisitions, joint ventures, and portfolio expansion to strengthen their foothold in beverage container industry.

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