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Beverage Packaging Market to Grow at a CAGR of 5.6 and Reach USD 133.3 Billion by 2026
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The beverage packaging process is an important part of the food and beverage industry. A well-designed package increases the shelf life, quality, and overall sales of the beverage. The beverage packaging utilized for alcoholic and non-alcoholic beverages are glass, metal, plastic, paperboard along with their combinations. The chemical composition of the beverage also helps in determining the type of packaging to be used.
Asia-Pacific accounted for the highest revenue in 2018 compared to other regions due to new innovations and technological advancements for plastic alternatives. In Asia-Pacific and LAMEA, the increasing consumption of bottled water and growing popularity of nutritional drinks is anticipated to boost the growth of beverage packaging in the near future.
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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.
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.
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