Press release
Beverage Packaging Market to Reach $133.3 Billion by 2026 | Latest Research Report
Beverage Packaging Market
Growth Factors:
The global beverage packaging industry was pegged at $86.1 billion in 2018 and is projected to reach $133.3 billion by 2026, registering a CAGR of 5.6% from 2019 to 2026.
Convenience and Demand:
Rising consumer preference for convenient packaging, bottled water consumption surge, and increased automation in production are driving the market.
Sustainability Shift: The use of recycled plastic and the introduction of bio-plastics present exciting opportunities for eco-conscious consumers and manufacturers.
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Challenges:
Plain Packaging Regulations: Implementation of plain packaging for certain beverages (alcoholic and sugary drinks) creates some limitations for growth.
Market Segmentation Highlights:
Non-Alcoholic Reigns Supreme: The non-alcoholic segment dominates the market due to health-conscious consumers and constant beverage innovation. This segment is projected to see the fastest growth rate.
Bottles Still Top Dog: Bottles currently hold the majority share due to their ease of production and handling. However, cartons are expected to see the fastest growth due to their recyclability.
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Regional Market Landscape:
Asia-Pacific Leads the Way: The Asia-Pacific region holds the largest market share and is projected to experience the fastest growth due to diverse beverage options and rising living standards.
North America Maintains Steady Growth: North America is expected to see consistent growth, albeit at a slightly slower pace than Asia-Pacific.
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Top Players:
Crown Holdings, Inc, SIG Combibloc Group AG, Smurfit Kappa Group plc, Reynolds Group Holdings Limited, Ball Corporation, Mondi plc, Orora Limited, Amcor plc, Stora Enso Oyj, Tetra Laval International S.A.
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