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Beer Packaging Market Size, Share & Competitive Analysis 2024-2033
Beer Packaging Market Size
According to The Business Research Company's, The beer packaging market size has grown steadily in recent years. It will grow from $9.75 billion in 2023 to $10.16 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to consumer preferences, regulatory compliance, brand differentiation, supply chain optimization, market trends..
The beer packaging market size is expected to see steady growth in the next few years. It will grow to $11.71 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to sustainability initiatives, premiumization, e-commerce growth, health and wellness trends, global market expansion.. Major trends in the forecast period include digitalization in labeling and packaging, expansion of aluminum bottle usage, focus on eco-friendly materials, introduction of smart packaging, shift toward minimalist design..
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Market Drivers and Trends:
Increasing consumption of beer is expected to propel the growth of the beer packaging market going forward. Beer is an alcoholic beverage that is produced by brewing and fermenting grains, typically malted barley, then flavoring it with hops and other ingredients to give it a mildly bitter flavor. As beer is a popular alcoholic beverage that is consumed by millions of people worldwide, the demand for beer packaging has been growing steadily. Beer packaging is critical for preserving the flavor and freshness of the beer, and to maintain its quality. For instance, in April 2022, according to Alcohol and tobacco tax and trade bureau, a US-based federal department, the production of beer increased from 179.96 million barrels in 2021 to 180.88 million barrels in 2022. Therefore, the increasing consumption of beer is driving the growth of beer packaging.
Product innovation is a key trend gaining popularity in the beer packaging market. Major market players are concentrating their efforts on creating innovative products such as smart packaging, biodegradable packaging, oxygen scavengers, digital printing, and tamper-evident seals to strengthen their position in the market. Biodegradable packaging refers to a type of packaging that naturally dissolves and disintegrates. It is made from materials like paper, corn-starch, and bioplastics and is becoming more popular in beer packaging. For instance, in March 2021, Corona, a Belgium-based company, launched biodegradable packaging made from barley by-products. Corona rolled out biodegradable six-pack holders made from barley waste created in the beer-making process, which is sustainable packaging and environmentally friendly.
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Major Key Players of the Market:
ActionPak Inc.; AGI glaspac Ltd.; Allied Glass Containers Ltd.; Amcor Group GmbH; Ardagh Group SA; Ball Corporation; Berlin Packaging LLC; Canpack SA; Carlsberg Breweries A/S; Crawford Packaging Materials Ltd.; Crown Holdings Inc.; Graphic Packaging Holding Company; Messe Düsseldorf GmbH; Nampack Ltd.; Smurfit Kappa Group plc; Tetra Laval International SA; Westrock Company; Fabri-Kal Corp.; Great Little Box Company Ltd.; Owens-Illinois Inc.; Plastipak Holdings Inc.; Rexam plc; Asahi Group Holdings Ltd.; Beatson Clark Ltd.; DS Smith plc; Gerresheimer AG; Heineken N.V.; Kirin Holdings Company Limited; Krones AG; Molson Coors Beverage Company
Beer Packaging Market 2024 Key Insights:
• The beer packaging market will grow to $11.71 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%.
• Beer Consumption Fueling Beer Packaging Market Growth
• Innovative Brewing Advancements Reshaping Beer Packaging Trends
• North America was the largest region in the beer packaging market in 2023
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