Alcohol Packaging Market Trends By 2027 | Top Key Players - Krones AG, WestRock LLC, Ardagh Group S.A, and Crown Holding Incorporation

The demand for alcohol packaging market is surging at a robust pace, with an evident increase in the purchasing power among people leading to urbanization worldwide, supporting the trends of social gatherings. This leads to a higher consumption of alcoholic beverages at restaurants, bars, clubs, hotels as well as at the convenience of homes.
The liquor industry is one of the rapidly growing sectors of the economy, primarily supported by the increase in tourism in emerging countries like India, Thailand, Singapore, Brazil, and Argentina. Reports estimate that in the year 2018, nearly 18.5 million international visitors arrived in Singapore. This has led to an increase in the number of people visiting restaurants, and other locations that serve alcohol.

A major factor supporting growth in global alcohol packaging market size is the frequent introduction of different types of liquor beverages. The changing consumer demands along with the ability to spend on premium liquor have encouraged the beverage manufacturers to experiment with various flavors in developing regions.

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In March 2021, Privately- held Cuban spirits firm, Bacardi, announced a new flavor in its ready-to-drink brand Breezer in India. The drink, which was available in lemon, blackberry, cranberry, grapefruit has now launched a watermelon-mint flavor keeping in mind the approaching summer season.

Today, millennials are consuming more alcoholic beverages as compared to other age groups. They have already established their brand loyalty and are keen on exploring different types of liquors from different regions.

However, the implementation of a liquor ban in several regions by the governments to control the rising cases of alcoholism and the consequent impact on the health of the people will continue to affect the market growth in the coming years. Moreover, strict rules with regards to the packaging of alcohol may also hinder the market forecast.

For example the ABAC scheme, which has been designed with the support of the government of Australia. The guide has been designed to aid the alcohol-producing companies, product engineers, and advertising agencies to pack the products in a defined manner to ensure optimum customer transparency.

It will ensure the quality of the product, along with meeting the laws set by the Australian Government. Such factors may come in way of the alcohol packaging capabilities, restricting it to the use of designated packaging materials.

Glass-based alcohol packaging material has gained widespread demand due to their 100% recyclability and the ability to retain the quality of the beverage. Additionally, alcohol is sealed in glass bottles as glass is not easy to chemically react to and also does not easily corrode, which will ensure the concentration of the spirit.

As per Glass Alliance reports, in the year 2019, European glass production crossed a volume of nearly 37.2 million tons, recording an increase of 1.8% as compared to 2018. In addition to this, the growing carbon emission levels have supplemented the use of glass in place of other materials as they contribute to sustainability. With high volume of alcohol being produced and exported from Europe to APAC, the alcohol packaging market is sure to boom.

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COVID-19 and its effect on the liquor sector
It must be noted that the coronavirus outbreak has largely affected the sale of alcohol in Asia Pacific due to the restrictions in the transportation of people and goods, obstructing the movement of raw materials. In addition to this, the governments imposed a temporary halt in the operation of shops, restaurants, hotels, and other places that attract a crowd in order to control the spread of the infection.

This has led to a considerable fall in the production of alcoholic beverages, affecting the alcohol packaging industry scale. Although with gradual relaxations offered by the government to strengthen the economy, the demand and availability of alcohol will rise in the coming years.

Geographically speaking, the high population growth along with the increase in per capita income among the people across Asia Pacific has propelled the demand for alcohol packaging solutions due to the growing consumption of liquor. Regions such as China and India have witnessed a drastic improvement in the living standards, leading to the demand for different kinds of spirits.

APAC is becoming a manufacturing hub for liquor over the years. The region boasts of several alcohol production companies like United Spirits, GM Breweries, Radico Khaitan, Kweichow Moutai, St Agnes, and Wine Trade Asia Pte.

Alcohol packaging market is bestowed with many leading companies that are constantly working towards improving their quality to offer durability as well as to meet the legal guidelines. Major producers include Owens Illinois Inc., Krones AG, WestRock LLC, Ardagh Group S.A, and Crown Holding Incorporation, among many others.

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This release was published on openPR.