Press release
Beverage Packaging Market Growth, Size, Share, Demand, Trends and Forecasts to 2027
Moreover, the rising adoption of compostable, recyclable, and biodegradable packaging material among manufacturers will subsequently create growth opportunities for the market in the forthcoming years. In addition, the growing importance of environment-friendly products will impel companies to offer eco-friendly packaging solutions, which in turn will bolster the healthy growth of the market in the foreseeable years.
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List of the Leading Companies Profiled in the Global Beverage Packaging Market are:
• Amcor
• Ardagh Group
• Crown Holdings
• Mondi Group
• Saint Gobain
• Sonoco Products Company
• Tetra Laval
• Toyo Seikan
The report is fixed at delivering a comprehensive description of the beverage packaging market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER's analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the market. It further examines the ways and components convincing armored vehicle market expansion, growth patterns, restricting factors, and market strategies.
Competitive Landscape
Acquisition of Novio Packaging by Berlin Packaging to Boost Market Prospects
Berlin Packaging, a supplier of packaging services based in Chicago, Illinois, United States announced that it has signed an agreement with Novio Packaging, a manufacturer of PET and HDPE containers for its Netherlands based Novio Packaging Group B.V. The strategic acquisition of Berlin Packaging will strengthen its European plastic offering, enhance its expertise in personal care pharmaceutical, food, and sports nutrition verticals, and expands its northern European footprint.
The agreement between the companies can be a determining factors in aiding the beverage packaging market growth due to their unique packaging supply for glass, plastic, and metal containers and closures. Moreover, Chairman and CEO of Berlin Packaging, Andrew Berlin, said in a statement, "Acquiring Novio fully solidifies our European positioning, giving us the ability to help customers of all sizes, including multi-national corporations, across all market segments, grow their bottom lines with our packaging products and services. He further added, "It provides tremendous cross-selling opportunities, a robust sales pipeline, and a perfect platform for continued European expansion".
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Market Restraint
Stringent Government Regulations to Dampen Packaging Production
The implementation of strict regulations on plastic use by the government will impede the growth of the market. For instance, the ban on single-use plastic in various nations around the world will simultaneously affect the beverage packaging market share. Moreover, the growing inclination towards the environment and conservation of natural habitat will distress the beverage packaging supply chain, which in turn will decelerate the beverage packaging market revenue during the forecast period.
Regional Analysis
Presence of Prominent Players to Augment Growth in North America
North America generated a revenue of USD 30.64 billion in 2018 and is expected to grow rapidly during the forecast period. The growth in the region is attributed to the high production of beverages such as beer, wine, soft drinks, packaged drinking water, energy drink, cold-pressed juice, and others.
Europe is predicted to witness steady growth in the forthcoming years owing to the growing consumption of in countries such as UK, Germany, Spain, and others. However, the ban on single-use plastic and the implementation of strict regulations regarding plastic will consequently hamper the growth of the market in Europe. The market in Asia Pacific is predicted to rise significantly in the forthcoming years owing to the rapid urbanization and rising disposable income.
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