Beverage Packaging Market expected to reach USD 139.41 billion by 2021, Says MDF Research

According to the report “Beverage Packaging Market by Type (Bottle, Can, Pouch, Carton), Material (Glass, Plastic, Metal, Paperboard), Application (Alcoholic, Non-Alcoholic, Dairy), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the Global Beverage Packaging Market was worth USD 113 billion in 2016 and is estimated to be growing at a CAGR of 4.29%, to reach USD 139.41 billion by 2021. The market is projecting a steady growth in the mentioned forecasting period. Beverage packaging is an important aspect of the beverage industry; it only gives the companies a head start through its ease of use but also helps in distinguishing the brand from its competitors. Growing lifestyles in the developing countries is boosting the global beverage packaging market.

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Packaging is an integral part of food & beverages industry. Packaging not only helps in protecting the goods from deteriorating due to external weather conditions but also helps in creating a communication channel through which a brand communicates with its audience. Packaging can be done in various materials namely glass, plastic, metal and paperboard. Packaging increases the shelf life of a product and also decides the mode of transportation and ease of storage.

The market is driven by the rapid growth in the way of living of consumers in the developing economies. Ease of access, mobility of products and disposable nature are some of the factors which positively affect the beverage packaging industry. Beverage packaging is now a days also used as a marketing tool because of the growing consumer preferences for product information and convenience. The major factor restraining the growth of plastic segment is due to the environmental concerns over plastic’s re-use. While, glass and metal are economically expensive than plastic, plastic does a significant contribution in the rising pollution levels. These are some of the factors which hinder the growth of the beverage packaging industry.

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The Global market for Beverage Packaging is broadly categorized into Type (Bottle, Can, Pouch, and Carton), Material (Glass, Plastic, Metal, and Paperboard). Based on Application, the market is further segmented into Alcoholic, Non-Alcoholic and Dairy products. Plastic packaging accounted for the highest revenue of the overall market and is projected to witness high growth rate during the forecast period. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The beverage packaging market was dominated by Asia-Pacific, with the overall market share of approximately 30% globally. Asia-Pacific was followed by Europe and North America. Asia Pacific is predicted to grow at a rapid pace in the coming few years.

Some of the major companies dominating the market are:
• Saint-Gobain S.A.
• Ball Corporation
• Tetra Laval International S.A.
• Stora Enso Oyj
• Rexam PLC
• Owens-Illinois, Inc.
• Crown Holdings, Inc.
• Mondi PLC,
• Reynolds Group Holdings Limited,
• Amcor Limited
• Alcoa Inc.

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