Packaging as a Critical Requirement for Brand Differentiation in the Fiercely Competitive Beverage Market Drives the Global Beverage Packaging Market

Critical role played by packaging innovations in building brand identity in addition to preserving quality and taste of beverages in a highly competitive beverage market is poised to drive the global market for Beverage Packaging to exceed US$155 billion by 2024.

Emerging trends of beverage packaging as a marketing tool and growing consumer preferences for package convenience and product information is fueling the global demand for beverage packaging. Technology advances aiding the development of innovative, eco-friendly and cost-effective packaging formats, robust demand for safe and convenient beverages combined with the growing consumption of alcoholic beverages, health drinks, and packaged water represent key factors driving growth in the global beverage packaging market. Despite aluminum bottles and cans anticipated to register significant innovation in terms of improvements in graphics, container, and design, plastic continues to account for a significant share in terms of beverage packaging material used. Portability and convenience are the key trends that are significantly impacting the beverage manufacturing sector. Rising demand for organic and natural products, eco-friendly packaging, inclination towards ultra-premium and high-end brands, and millennials seeking creativity constitute the other key propellers for market growth.

Future growth in the market will be driven by the essential nature of packaging as the foremost and most effective advertisement for a beverage brand. The intense competition in the beverage market is promoting brands to use innovative packaging, art-inspired labels, attractive topography and sleek designs to stand out on shelves, differentiate brands, and captivate consumer attention. Another important growth driver is the growing interest in smart and intelligent beverage packaging, which leverages a mechanical or electronic trigger and generally offers a visual or audible signal that gets the customers attention, which indicates the action and reaction of consumers. This facilitates engagement and provides a conversation between objects, brands and people, ultimately improving consumer experiences and ultimately fortunes of beverage brands. Also, leading beverage companies are integrating Augmented Reality (AR), NFC, and QR Codes on their product labels to provide highly interactive and superior digital experience for end users. Other factors benefiting market prospects in the near term include surging demand for pure, chemically inert, and safe packaging materials that preserves product quality, ensures product safety and minimizes product waste; and emergence of lightweighting across all beverage packaging materials including glass, metal, plastics, and paperboard for reduction in raw material costs, logistics costs, and CO2 emissions. Plastics continue to represent the most important beverage packaging material owing to rising consumer preference for single-serve portions, enhanced visual appeal, and portability.

As stated by the new market research report on Beverage Packaging, Asia-Pacific represents the largest and the fastest growing market with a CAGR of 8.5% over the analysis period. Booming retail sector; rapid urbanization; growing demand for premium and convenient food and beverages due to increasing affordability and changing lifestyles; increasing focus on health, wellness and fitness that spurred opportunities for energy drinks, sports drinks and functional drinks; and rising consumption of beer, cider and soft drinks represent the major drivers behind the growing demand for beverage packaging in the region. By virtue of being the largest market for beer in terms of volume sales worldwide, China represents the leading market for beverage packaging in the region.

Key players covered in the report include Amcor Ltd., American Packaging Corporation, Anchor Glass Container Corporation, Anheuser-Busch Companies, LLC, Metal Container Corp., Ardagh Group S.A., Ball Corporation, Can-Pack S. A., Constantia Flexibles GmbH, Coveris Holdings S.A., CPMC Holdings Limited, Crown Holdings, Inc., Daiwa Can Company, Gerresheimer AG, Graham Packaging Company Inc., HUBER Packaging Group GmbH, Kingcan Holdings Limited, Mondi plc, Orora Limited, Owens-Illinois, Inc., SIG Combibloc Group AG, Silgan Holdings Inc., Tecnocap S.p.A, Verallia SA, Vetropack Holding AG, and Wiegand-Glas GmbH, among others.

The research report titled “Beverage Packaging: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major market participants. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America) and Rest of World. Major materials analyzed for the global market include Glass, Metal, Plastic, and Others.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.

For cutting edge analyst reviews on top industries

Follow us on Twitter; Connect with us on LinkedIn; Follow us on Medium