Sarasota, FL, Aug. 04, 2016 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Beverage Packaging (Bottle, Can, Pouch, and Carton) Market, By Material (Glass, Plastic, Metal, and Paperboard), for Alcoholic, Non-Alcoholic, and Dairy Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, global demand for beverage packaging market was valued at USD 108.4 billion in 2015, is expected to reach USD 138.7 billion in 2021 and is anticipated to grow at a CAGR of 4.2% between 2016 and 2021.
Beverage packaging provides protection from external environment. Beverage packaging supports reliable distribution of beverages and decreases post-production damages. The various types of materials used in beverage packaging are plastic, metal, glass and other materials. These materials are used in different packaging such as water packaging, dairy product packaging, alcoholic drink packaging and others.
Browse 40 Market Figures spread through 110 Pages and an in-depth TOC on "Beverage Packaging Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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Beverage packaging market is directly proportional to growing demand for various types of beverages. Beverage packaging market is driven by several factors like increase in beverage consumption, and the growing demand for long shelf life of product. Light weight packaging material has become an essential factor in the market, and having significant influence in beverage bottles and cans segment. This is further driven by environmental pressures from government, and low material usage for packages means low costs, which are always beneficial for both brands and retailers. Moreover, stringent government regulation for environmental safety may affect the market growth.
North America dominated the beverage packaging market in 2015 which was mainly contributed by high consumption of alcoholic as well as non-alcoholic drinks. Presence of leading key players in this region also fuels the global market for beverage packaging. The most common beverage packaging material used in North America is the aluminum can. In Canada all the health and safety benchmarks under the food and drug regulations are upheld by the Canadian food inspection agency (CFIA). The CFIA is also accountable for the organization of non-health and safety rules and regulations concerning packaging, labeling and advertising. Stringent regulation in this region may hamper the beverage packaging market in the forecast period.
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Europe was one of the leading players in the beverage packaging market in 2015. Europe is expected to remain relatively stable over forecast period. Major factor driving the growth of the beverage packaging market is the altering consumption patterns of consumer with an increase in preference for ready to drink (RTD) beverages. One of the major challenges hampering the growth of this market is the limitations in expanding production capacity.
In the past decades, the beverage packaging industry has been growing at a faster pace in Asia Pacific region. The Asia Pacific beverage packaging market is expected to show positive growth, primarily due to high population base. Growing disposable income, development of new retail channels along with manufacturer's efforts to make beverages available through cost reduction in packaging have driven market growth in the region.
Latin America expected to be the future market for beverage packaging market. Growing urban population, emerging nationwide economies, modernizing retail channels and rising middle-class consumer income witnesses new growth opportunities in forecast period. Brazil is seen as the lucrative business sector with the high potential for beverage packaging market. Latin America is predicted to show decent growth in the beverage packaging market in upcoming years.
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Middle East and Africa represent a region with a large potential for beverage packaging in future. The strong retail market and improving economic activity expected to boost the beverage packaging market in the region.
Some of the major participants operative in the global beverage packaging market includes Ball Corporation, Rexam PLC, Amcor Limited, Reynolds Group Holdings Limited, Saint-Gobain S.A., Tetra Laval International S.A. and Owens-Illinois, Inc.
The report segments the global beverage packaging market as
Beverage Packaging Market: Type Segment Analysis
Beverage Packaging Market: Material Segment Analysis
Beverage Packaging Market: Application Segment Analysis
Beverage Packaging Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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