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 o...