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Alcoholic Beverage Packaging Market Size, Share, Growth Insights And Forecast Report 2033
Alcoholic Beverage Packaging Market Size
As per the report, the alcoholic beverage packaging market size has grown strongly in recent years. It will grow from $72.02 billion in 2023 to $77.42 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The alcoholic beverage packaging market size is expected to see strong growth in the next few years. It will grow to $99.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
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Alcoholic Beverage Consumption Boosts Packaging Market Growth
The rising alcoholic beverage consumption is expected to propel the growth of the alcoholic beverage packaging market going forward. The rising alcoholic beverage consumption has resulted from changes in social and cultural norms, increased availability of alcoholic drinks, changes in marketing strategies, and changes in economic and social conditions. As the demand for alcoholic beverages is increasing globally, the need for efficient and innovative packaging solutions is also rising to meet consumer demands and regulatory requirements. For instance, in February 2023, according to an article published by PennState Extension, a US-based modern education organization, alcohol consumption in adults aged 18 and above has reached 63% in 2022 as compared to 60% in 2021. Also, in 2022, the alcohol consumption rate reaches up to 65% for adults with a legal age of drinking 21 years. Therefore, the rising alcoholic beverages consumption is driving the growth of the alcoholic beverage packaging market.
Innovative Advances Sustainable Technology Transforming Alcoholic Beverage Packaging
Technological development is a key trend gaining popularity in the alcoholic beverages packaging market. Companies operating in the alcoholic beverage packaging market are developing new sustainable packaging technology to sustain their position in the market. For instance, in October 2022, Diageo, a UK-based beverages company collaborated with ecoSPIRITS, a Singapore-based beverages packaging company and launched the first ecoSPIRITS Intelligent Circular Closed Loop Network. This is a system aimed at reducing waste and environmental impact in the spirits industry, specifically in the packaging and distribution aspects. The SmartPour 2.0S Smirnoff Edition is the first Internet-of-Things (IoT) device to be officially powered by ecoSPIRITS' cloud-based CircularONE software platform, which aims to improve the security, scalability, and efficiency of ecoSPIRITS' global closed loop network. .
The alcoholic beverage packaging market covered in this report is segmented -
1) By Product: Cans, Bottles, Other Products
2) By Material: Glass, Metal, Plastic, Other Materials
3) By Application: Beer, Wine, Spirits, Other Applications
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Major companies operating in the alcoholic beverage packaging market report are Mondi plc, Amcor Plc, Ball Corporation, Crown Holdings Inc., Berry Global Group Inc., Tetra Pak International SA, Ardagh Group, Owens-Illinois (O-I) Inc., Krones AG, Orora Packaging Australia Pty. Ltd., Vetreria Etrusca SpA, Brick Packaging LLC, Nampak Limited, Encore Glass Inc., Gerresheimer AG, United Bottles & Packaging, Saint Gobain SA, Ardagh Group SA, Stora Enso Oyj, IntraPac International LLC, WestRock LLC, ProAmpac Holdings Inc., Beatson Clark Ltd., Berlin Packaging LLC, DS Smith plc, Graphic Packaging International LLC, Huhtamaki Oyj, Piramal Glass Limited, Smurfit Kappa Group .
Contents of the report:
1. Executive Summary
2. Alcoholic Beverage Packaging Market Report Structure
3. Alcoholic Beverage Packaging Market Trends And Strategies
4. Alcoholic Beverage Packaging Market - Macro Economic Scenario
5. Alcoholic Beverage Packaging Market Size And Growth
…..
27. Alcoholic Beverage Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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