Beverage Packaging Market To Grow At A CAGR Of 5.6 And To Reach $133.3 Billion By 2026

According to a new report published by Allied Market Research, titled, " Beverage Packaging Market by Packaging Material, Beverage Type, and Packaging Type: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global beverage packaging market size is expected to reach $133.3 billion in 2026, from $86.1 billion in 2018, growing at a CAGR of 5.6% from 2019 to 2026. In 2018, Asia-Pacific dominated the market, in terms of revenue, accounting for over 39.4% share of the global beverage packaging market.

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Beverage packaging is a key factor in maintaining the quality and integrity of the product. With the growing international trade and increasing demand for convenience, the demand for beverage packaging is expected to rise over the forecast period. The beverage packaging market is driven by the rising demand for convenience and the growing trend of on-the-go consumption. Moreover, the introduction of innovative packaging solutions and the growing demand for sustainable packaging are expected to drive the beverage packaging market.

The demand for convenience is driving the demand for beverage packaging. With the rise of on-the-go consumption, the demand for beverage packaging is expected to rise over the forecast period. Moreover, the growing trend of single-serve packaging is expected to drive the beverage packaging market. In addition, the introduction of innovative packaging solutions such as stand-up pouches, shrink wraps and spouts are expected to drive the beverage packaging market.

The increased adoption of automation and internet of things (IoT) in beverage packaging has propelled the manufacturing capacities of major players. With the help of automation, packaging manufacturers are now able to maintain product qualities while also reducing the production time. Also, the constant research in the beverage packaging industry is boosting the growth of the market significantly.

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The global beverage packaging market is segmented on the basis of packaging material, beverage type, packaging type, and region. By packaging material, the market is divided into glass, metal, polymers, and paperboard. By beverage type, it is classified into alcoholic beverages and non-alcoholic beverages. By packaging type, the market is classified into bottles, cans, cartons, and others. The others segment includes pouches and bag-in-box type of packaging. The bottles segment holds the highest contribution in the overall beverage packaging market share.

The global beverage packaging market is analyzed across four geographical regions that include North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.