Beverage Packaging Market 2021 Latest Advancements, Trends and Huge Business Opportunities: Owens-Illinois Inc., Tetra Laval International SA, Ball Corporation, Ardagh Group, Amcor Limited, Mondi PLC, Verallia SA, Vidrala SA, Vetropack Holding Ltd

Beverage Packaging Market Report provides detailed analysis of Growth Factors of the market as well as it gives an analysis of the Market size, Latest trends, SWOT Analysis by Regions and Forecasted market research data until 2026. The Beverage Packaging market report has studied key opportunities in the market and influencing factors which are useful to the business. The report also maps the qualitative and quantitative impact of various market factors like macro-economic indicators, PPP, Epidemiological data, Insurance scenario and patent and IP information, Government Policies and business regulations along market attractiveness as per segments.

The beverage packaging market was valued at USD 132.16 billion in 2020 and is expected to reach USD 205.32 billion by 2026, at a CAGR of 6.2% over the forecast period 2021 - 2026. 

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Beverage Packaging Market: Owens-Illinois Inc., Tetra Laval International SA, Ball Corporation, Ardagh Group, Amcor Limited, Mondi PLC, Verallia SA, Vidrala SA, Vetropack Holding Ltd, Crown Holdings Inc., Silgan Containers LLC, CCL Container Inc., Berry Global Inc., Sonoco Products Company, RPC Group PLC and others.

Industry News and Updates:

Tetra Pak accelerates action towards reduced littering and sustainable future

2021-03-29: Tetra Pak today announces it is ready to deploy its portfolio of tethered cap solutions. The portfolio brings numerous benefits to food and beverage manufacturers and consumers, as the company builds on its vision of the most sustainable food package. These benefits include minimising litter, as the​ cap will stay attached to the package. The carbon footprint can also be reduced because the company’s tether​ed caps are planned to become available as a plant-based option, therefore increasing the renewable content of the package.

In tandem, the company is accelerating the expansion of its paper straws offering to ensure further renewable and low carbon materials across the range of packaging solutions. The aim of this is to address a broad range of customer sustainability needs without compromising on food safety, while still delivering on the end-user drinking experience.

Owens-Illinois invests US$60m in Europe to meet growing demand for glass packaging

14 Mar 2019 --- Glass manufacturer Owens-Illinois, Inc., (O-I) is set to make a significant investment of US$60 million in its European glass operation. This investment will enable O-I to grow in premium segments, increase capability and flexibility, as well as improve the company’s environmental footprint, the company describes.

O-I will invest more than US$60 million to expand its plant in Gironcourt, France. Plans include building a new furnace for a total of three furnaces at the plant when the expansion project is completed in early 2020. The expansion at Gironcourt will focus on the growing premium beer segment which is highly differentiated and uses unique bottle shapes to build strong, premium brand equity.

Indulgence is still key in NPD for alcoholic beverages, as companies continue to offer high-end artisanal and handcrafted liqueurs using seasonal flavors and novel ingredients. Premium offerings are often packaged in glass, which remains to be the material of choice for alcoholic beverages, according to Innova Market Insights research.

- In July 2020, Diageo, Johnnie Walker, Smirnoff, and Guinness's parent company, announced the creation of the 100% plastic-free, paper-based spirits bottle. The bottle is expected to source from sustainable wood and would launch in early 2021.

- In March 2020, a beverage packaging manufacturer, Canpack, announced plans on adding one billion cans annually to support growing markets in Colombia and Russia. To achieve the same, the company would increase the Columbian facility's annual capacity by 46% from 1.3 billion cans to 1.9 billion.

- In February 2020, Ball Corporation is expected to expand United States Metal Can production by 2021. Its specialty beverage can plant would commence operations in Arizona and the northeastern US, in line with the company's previous commitment to add at least 8 billion units of capacity by the end of 2021.

Global Beverage Packaging Market Overview:

- The growing demand for carbonated drinks, energy drinks, and juices, among others, is indicative of rising PET bottles and metal cans as preferred materials for the same. Glass on the other hand, with its recyclable properties, has been challenged by increased costs of production and recycling. The preference for the same has been growing recently concerning sustainability trends across beverage packaging.

- Moreover, as plastic has been long-standing and a preferred packaging option by global beverage manufacturers, due to the reduced manufacturing, durability, and logistics costs, the transition towards sustainable packaging has driven these packaging manufacturers and bottling companies to pledge and commit usage of newer materials for the same.

- For instance, Coca-Cola shared its commitment towards recycling as many plastic bottles as it uses by 2030. For the same, the company has been partnering with NGOs globally, to help improve collection. Then, as of January 2020, Nestle commits USD 2.1 billion towards using recycled plastic packaging.

- As per FEVE, the European container glass manufacturing industry has 160 glass manufacturing plants in the EU region and maintains over 125,000 jobs operating in a circular economy business model. With the outbreak of COVID-19 in the region, the association led the beverage sector exempted from shutdown due to the primary needs of consumers.

- With self-isolation rules across the world, short supply, coupled with event cancelations, has led the supply chains to source away from China. The United States, parts of Europe, and Canada have been dependent upon imports for glass bottles. This has created a situation of havoc, as a decline of nearly 85% in the volume of Chinese-made goods arriving at Port of Vancouver is expected to create a shortage in the country. Moreover, the stockpiling of beverages has been adding to the shortage of glass containers globally.

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Alcoholic Beverage is Driving the Market

- The categorization of alcoholic beverages includes wine, beer, spirits, etc. being packaged using formats such as bottles, kegs, cartons, and cans, to name a few. When it comes to Alcoholic beverages, there has been a significant transitioning of the wine industry concerning packaging format has been observed, as the global consumption across still wine has been slowing down. This has led the Unites States-based wineries to drive packaging innovations to cut costs and appeal to younger consumers.
- Therefore, portability and convenience became significant drivers in wine packaging innovation, which led to Bota Box and Black Box to leverage alternative packagings, such as tetra packs and bag-in-box wine and cartons. According to the State Of Wine Industry Report 2020, by Silicon Valley Bank, canned wine in the country has recorded an 80% growth in 2019, despite the 0.5% as an overall share.
- Cans have been observed increasing footprint across other alcoholic single-serve options. Here, the economies of smaller sizes remain the same for cans for 375- and 500-milliliter glass formats. For instance, small-sized bottles and cans, such as 100-200 milliliters, have been holding 90% of beer volume globally.
- Beer’s packaging, on the other hand, is highly diverse. The format packaging type preference has been driven by different regions where local laws, regulations, tastes, culture, and other drivers influence the packaging landscape.
- With the COVID-19 outbreak and an upsurge in demand for alcoholic beverages across the United States and Europe, multiple packagers have reported having been running on low stocks.
- For instance, the draft beer sales stopped flowing in the United States due to on-premise shutdowns caused by efforts in the wake of novel coronavirus disease COVID-19. Therefore, allied craft brewers turned to 32 oz. Cans filled and sealed on demand to sell out leftover beer in kegs before oxidization. This has led to an increased demand for packaging towards current production in hand. Amidst the lockdown scenarios, packaging manufacturers have themselves reported operability with a reduced workforce, creating a supply-driven challenge.

Asia-Pacific to Witness Highest Growth

- The Asia-Pacific region holds significant potential for development in terms of the most prospective countries. The market holds a substantial share in retail packaging, estimating to nearly 75%, as significant manufacturing is done in China.
- The demand for beverages, and hence the demand for beverage packaging, is expected to grow faster in the Asia-Pacific region. This is due to a rise in income and ongoing population shift from rural to urban, in major countries such as China, Japan, and India.
- Changes in lifestyle and a growing young population lead to a higher demand for branded and packaged substances. At the same time, growing health awareness and more concern towards environmental sustainability lead to innovations in beverage packaging in the region.
- Moreover, on the go consumption in countries like India, China, Japan is fuelling demand. With two of the world's populous countries China and India, the beverage demand is always on a higher side, subsequently driving the beverage packaging market.

Competitive Landscape

The beverage packaging market is fragmented due to many players are entering into the packaging market. Moreover, innovation and development by players are making the market competitive.         

Regional analysis:

This report covers South America, North America, Europe, Asia Pacific (APAC), Africa and The Middle East, taking into account the clear evidence of where the market is fully examined, typical market examples, blocks and open access roads for power generation. With a huge population, Asia Pacific has revenues in the picture year, and dominates the Beverage Packaging market share, at any given time. Continuous GDP reform; Institutional progress per capita is becoming urbanized in the metropolitan area. This expanded revenue has led to indulging in top private and unrealistic usage models in the Beverage Packaging market deployed in the region. While an important piece of the Beverage Packaging market center around the global expansion of business, territories such as the Middle East and Africa will grow steadily. Big market development will take place in Latin America because of the small expansion producers' attempts at profits. In Europe, a lethargic improvement is expected due to mood-oriented rules and early stages.

Find Out:

Beverage Packaging market: Where are the opportunities? What does the future look like for Beverage Packaging? What will be the market size in the next 5 years?
Beverage Packaging Market trends: What is driving the market? Where are the key players? What are their strategies? What is holding the market behind? Where is the industry heading for in the short and long-term? How are new developments expected to change the market?
Technology: How are new technologies shaping the Beverage Packaging market?

What are the new revenue channels which companies can explore for growth?       

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Due to the onset of COVID-19 pandemic, several economies across the world have experienced harsh economic downturn. The industrialists across North America, Europe, Asia Pacific, Latin America and Middle East and Africa were facing problems due to changing preferences of the customers and demand fluctuation. The market research report covers pre-Covid-19 data for the Beverage Packaging market in years 2018 and 2020. Further, the report also covers forecast Covid-19 data from 2021 to 2026, which provides future outlook of the market for the manufacturers and suppliers.

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