[3/7/2019]: The Beverage Packaging Market is subject to witness a substantial growth due to the
growing demand for hot and cold beverages and their easy availability coupled
with soaring demand for convenient & sustainable packaging solutions.
Increasing demand for bioplastics and metal composites of aluminum, steel and
plastic grades like polyethylene terephthalate (PET) & polyethylene (PE),
glass and paper for convenient & sustainable packaging solutions drive the
market growth of beverage packaging industry. Rapid industrialization in BRICS
economies such as Brazil, Russia, India, China and South Africa is expected to
stimulate the market growth of beverage packaging in the upcoming years.
Globally, the market is predicted to grow at a significant CAGR over the
forecast period, providing numerous opportunities for market players to invest
for research and development in the packaging industry.
Increasing
adoption of the paper & paperboard materials in the beverage packaging
market owing to their lightweight and eco-friendly nature is expected to
enhance the market growth. Additionally, recycling of paper & paperboard
for multiple use reflects flexibility. These factors are responsible for rise
in demand of paper & paperboard in packaging sector. Other factors such as
easy to use, simple operation and cost-effectiveness are complementing the
market growth in the recent years.
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Technological
advancement in the manufacturing sector coupled with the development of
advanced packaging solution are anticipated to boost market growth over the
forecast period. In addition, growing manufacturing sector in South East Asian
economies such as Singapore, South Korea, Taiwan and Malaysia is projected to
escalate the growth of beverage packaging market in the upcoming years.
Furthermore, increase in consumer awareness about environmental hazards with
excessive use of plastic and complete ban on the use of the lightweight plastic
materials in few countries are expected to amplify the growth of metal and
paper beverage packaging solutions over the forecast period.
The
market is broadly categorized into two major segments based on the product type
such as cartons & paper packaging, bottle & jars packaging. The bottle
& jars packaging is considered as one of the fastest growing segment in the
market with substantial revenue generation in the last few years. Growing
popularity of the bottle & jars packaging segment is attributed to the
increasing adoption for pack alcoholic beverages. The cartons &
paper-packaging segment also witnessed substantial growth owing to the
increasing demand for packaging of non-alcoholic beverages.
The key players in the beverage
packaging market are Bemis Company, Inc., Sonoco Products Co., Saint-Gobain
S.A, Mondi plc, Amcor Ltd., Alcoa Co., Reynolds Group Holdings Ltd., Caraustar
and Cascades Incorporations, Oji Holdings Co., Clondalkin Group, ITC Ltd., and
Crown Holdings, Inc.
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