Press release
Global beverage containers market size, Industry share, Analysis & Forecast 2016-2023
Flourishing demand for alternatives to the carbonated drinks along with increasing consumer preferences for single serving containers is expected to drive beverage containers market growth over the forecast period. In addition, these containers also assist in minimizing post production damage which is further expected to fuel the industry demand.
Aggressive marketing campaigns accompanied by propagation of new product introductions are anticipated to positively impact the industry growth over the next few years. Furthermore, encouraging demographic trends such as dynamic gains in millennial and in the ageing population is estimated to augment the demand growth for beverages and associated containers.
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The U.S. beverage containers market size is forecast to reach 300 million units by 2023 growing at CAGR of over 2% from 2016 to 2023. The region is likely to be valued over USD 30 billion by 2023. Plastic containers in the U.S. are expected to continue its dominance by being fastest as well as fastest growing segment.
The beverage container market can be segmented on the type of container such as plastic, paperboard, metal and glass. Plastic containers can be further segregated into bottles and pouches. Metal segment can be classified into aluminium and steel.
Metal beverage containers segment is the second largest beverage container type in terms of units is expected to register less growth owing to descending soft drink production and meagre increases in beer production from 2016 to 2023.
Asia Pacific beverage containers market size accumulated around 34% of the overall industry share in 2014. The surge in the industry is due to increasing demand for glass bottles from beer industry in the region over the forecast period. Advent of various alcoholic beverages is also expected to fuel the demand for glass bottles. In addition, glass bottles are preferred over plastic ones due to the chemical inertness offered by the glass bottles.
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key industry participants occupying major beverage containers market share include Amcor Limited, Ampac Packaging LLC, Alcoa Incorporated, Anchor Glass Container Corporation, Ardagh Group SA, Anheuser-Busch, Ball Corporation, CCL Industries Incorporated, Berry Plastics Corporation, CKS Packaging Incorporated, Consolidated Container Company LLC, Coca-Cola Company Incorporated, Crown Holdings Incorporated, Empaque, Dean Foods Company, Evergreen Packaging, Gallo (E&J) Winery, Exal Group, Graham Packaging and Hindalco Industries Limited among others.
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