Spirits Packaging Market Size to Grow at a CAGR of 4.6% During the Forecast Period 2020-2025

Spirits Packaging Market size is estimated to be $20.4 billion in 2019, growing at a CAGR of 4.6% during the forecast period 2020-2025. Spirits are distilled alcoholic beverages majorly manufactured through distillation process. Increasing awareness of nutritional benefits from Spirits, rising demand of flavored drinks, growing disposable income, and the increasing demand of safe and innovative packaging is a significant factor driving the Spirits Packaging Market during the forecast period 2020-2025. Moreover, the demand of premium spirits packaging is increasing as alcohol is increasingly being consumed and consumers are ready to pay for more premium quality products. Players are focusing on innovative packaging solutions to facilitate spirits industry, therefore driving market growth. For instance, the Astra pouch and Astromoni pouches represent the latest advancement in flexible and eco-friendly packaging for the wine and spirits industry. In addition, with their large, flat structure Astra pouch pouches provide a complete packaging marketing opportunity that allows to billboard brands on shelves and end caps and storefront displays. Furthermore, Stoelzle Glass Group is one of the leading manufacturers of high end-bottles for premium Spirits Packaging and liquors. The company has a great expertise in custom design and standard glass containers. With a larger section of the employed population, the demand for convenience flavored alcoholic beverages, non-alcoholic Spirits Packaging, distilled Spirits Packaging is higher which is likely to boost the economic income of the Spirits Packaging market in the coming years.

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By Type- Segment Analysis

By Type, the Spirits Packaging Market is segmented into PET Bottles, Glass Bottles, Stand-up pouches and others. The PET bottles held the largest market share in 2019 owing to its durability and break-resistant as compared to the glass counterparts as they have tough non-reactive composition that prevents the creation of moisture and air, hence, there are lesser chances of breakage and bursting while shipping from one place to another thereby maintaining the quality of liquid inside. In addition, they are flexible enough to be molded into any shape and any shade of color. Thus, increase in demand for advanced packaging in spirits is likely to accelerate rapidly in the near future. Moreover, it consumes less power to manufacture PET bottles compared to glass containers. Also, since plastic is lighter, the transportation cost involved are lesser. Hence, these are the key benefits of PET bottles driving the segment growth in the spirits packaging market in the coming years.

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Geography- Segment Analysis

North America contributed to the largest market share of 42% in 2019 owing to the presence of large dominant companies in the region including Astra Pouch, Big Sky Packaging and Hartness Holdings. Technological advancement along with the growing development in spirit packaging in this region have highly supported the growth of regional market. For instance, in July 2020 Diageo the maker of Johnnie Walker, Smirnoff and Guiness had announced that it had created world’s first-ever 100% plastic-free paper-based spirits bottle, reportedly made entirely from sustainably sourced wood. Europe spirits packaging market is another dominant market owing to the presence of key players including Vetropack Group that holds large distribution network in the region and all around the world enabling the European Market to capture substantial share in the global market.

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Drivers – Spirits Packaging Market

Increasing Demand of PET Bottles

PET is abbreviated form of Polyethylene Terephthalate offering several advantages such as great transparency and shiny surfaces offering a special charm and lend the PET packaging a sophisticated image. New labels solutions with double-sided print labels give the bottle an outstanding beauty. In addition, the flexible production process permits a nearly unlimited diversity of design. In particular machine and mould technology employed by E-proPLAST offers a universal design with minimal mould cost. Furthermore, in comparison to other packaging materials PET offers very high gas-barrier resistance. The loss of Carbon-di-oxide as well as the penetration of oxygen into the filling good can be minimized with the use of PET. Therefore, these are the key benefits triggering its market growth in the coming years.

Increasing Consumption of Alcohol

Rapid urbanization along with the growing consumption of alcohol is a major factor boosting spirits packaging market during the forecast period 2020-2025. According to the 2018 National Survey on Drug Use and Health (NSDUH), 86.3 percent of people aged 18 or older reported that they drank alcohol at some point in their lifetime, 70.0 percent reported that they drank in the past year, 55.3 percent reported that they drank in the past month. Moreover, the millennials are adopting alcoholic beverages consumption at a faster rate with a wide variation in brand and explore different taste beverages, from different regions with different packaging thereby driving the spirits packaging market in the forecast period 2020-2025.

Challenges – Spirits Packaging Market

Stringent Government Regulation

Factors that is set to impede the growth of Spirits Packaging Market are stringent government regulations regarding spirits packaging during the forecast period 2020-2025. The Federal Alcohol Administration Act (FAAA), provides federal regulation for beer, wine and distilled spirits as well as their packaging. Under this, companies have to maintain quality of packaging solutions that are used to hold alcohol must be over and above those imposed by FDA for foods generally under the Federal Food, Drug and Cosmetic Act (FFDCA).

Spirits Packaging Market Industry Outlook

Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Spirits Packaging Market. Spirits Packaging Market top 10 companies are Ball Corporation, Amcor Limited, Smurfit Kuppa Group, Ardagh Group S.A., Crown Holdings Incorporation, Astra Pouch, Big sky Packaging, Hartness International Inc, LiDestri Spirits and United Bottles and Packaging.

Developments:

April 2020: Seattle Washington’s cask beer heroes at Machine House Brewery launched a cask beer to-go program with Astra pouch Bag-in-Box packaging. Though the brewery is still trailing the service, Machine House is set to deliver a shipment of 5-liter fresh filled boxes to Portland via Alebriated Distribution.

Key Takeaways

The PET bottles held the largest market share in 2019 owing to its durability and break-resistant features as compared to the glass counterparts as they have tough non-reactive composition that prevents the creation of moisture and air, hence, there are lesser chances of breakage and bursting while shipping from one place to another thereby maintaining the quality of liquid inside.

North America contributed to the largest market share of 42% in 2019 owing to the presence of large dominant companies in the region including Astra Pouch, Big Sky Packaging and Hartness Holdings.

Rapid urbanization along with the growing consumption of alcohol is a major factor boosting spirits packaging market during the forecast period 2020-2025.

Related Reports :

A. Craft Spirits Market
https://www.industryarc.com/Research/Craft-Spirits-Market-Research-504982

B. Speciality Spirits Market
https://www.industryarc.com/Report/17782/speciality-spirits-market.html

For more Food and Beverage Market reports @ https://www.industryarc.com/Domain/6/food-beverages-market-research.html

Venkat Reddy
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