Alcohol Packaging Market Size, Share, Growth, Trends and Outlook by 2024 - Global Industry Analysis and Forecast 2016 - 2024
It is said that “As alcohol flows, so do packaging changes.” It has been observed that the consumption of alcohol is increasing rapidly, which in turn is fuelling growth of the global alcohol packaging market currently. At present, the alcohol market manufacturers are very keen on subscribing to the best packaging standards for their products, as packaging plays an integral role in influencing the consumers to purchase one brand over another. Players in the alcohol industry follow unconventional packaging formats and packaging innovations that include whiskey pouches, paper bottles, etc. Consumers prefer the brands that come with convenient and easy to open packaging. In fact, they recognize some brands on the basis of their packing. The global glass packaging market is strongly influenced by the alcohol market as most of the alcoholic drinks are packed in glass bottles; for instance, beer is packed in dark coloured glass bottles, which helps in UV rays deflection. The global alcohol packaging market has been witnessing significant growth until now, and is anticipated to expand at a modest CAGR over the forecast period due to the surge witnessed in the alcohol industry.
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Increase in disposable income of people and their consequent additional spending on recreational activities are factors influencing growth of the alcohol market currently, which in turn are expected to drive growth of the global alcohol packaging market over the forecast period. Increasing consumer demand for convenient and easy to open packaging format in case of alcoholic beverages is a major factor driving growth of the alcohol packaging market currently. Increasing awareness amongst alcohol manufacturers about distinguishing their products on the basis of packaging is a major factor contributing towards growth of the alcohol packaging market currently. However, the stringent regulations witnessed in some regions on the type of packaging and packaging materials used in case of beverages could hamper growth of the global alcohol packaging market over the forecast period. Besides, the materials used for packaging, such as plastics or PET, are not much environment friendly as they are non-biodegradable, which is a major restraining factor for the market growth.
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The growth opportunity for the players operating in the global alcohol packaging market lies in changing the packaging trends related to alcoholic beverages. The use of beer cans has become a fashion amongst the beers consumers. Nowadays, de-cluttering packaging is trending as a large number of consumers seek information of the alcohol and its calorie content. Many of the consumers are unknowingly influenced by the packaging of the alcoholic product, which thus contributes to the brand equity of that product. However, increasing awareness about the side effects of alcohol consumption amongst the consumers could further negatively influence growth of the alcohol market and, ultimately, the alcohol packaging market.
The global alcohol packaging market can be segmented on the basis of the material used, type of alcohol, and packaging format. On the basis of the material used, the global alcohol packaging market can be segmented into metal cans, glass bottles, PET bottles, and paper bottles. On the basis of type of alcohol, the global alcohol packaging market can be segmented into beers, wines, and spirits. On the basis of packaging format, the global alcohol packaging market can be segmented into ceramic beer bottle, ace of spades, machine gun shaped liquor bottle, single and double whiskey pouches, and wood-fiber beverage bottle.
By geography, the global alcohol packaging market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia Pacific accounts for the highest share of the global alcohol market currently, thus making it the global leader in the alcohol packaging market. In Asia Pacific, consumption of alcohol is witnessed to be the highest in India and China. The Asia Pacific market is followed by the North America market, due to the presence of countries such as the U.S., where alcohol consumption has been a routine since decades. Thus, North America is a significant contributor to the growth of the global alcohol packaging market. The alcohol market in Europe is also witnessing rapid growth, thereby driving growth of the alcohol packaging market in the region over the forecast period. The alcohol market in the Middle East and Africa is at a nascent stage, and is anticipated to expand at a modest CAGR in the future, thereby driving growth of the alcohol packaging market in the region as well.
Some of the key players in the global alcohol packaging market are United Bottles & Packaging, O-I, Encore Glass, Brick Packaging, LLC, Creative Glass, AAC Inc., Orora Packaging Australia Pvt. Ltd, and Vetreria Etrusca srl.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
Middle East and Africa
This report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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