Global Beverage Packaging Market

Beverage Packaging Market Size, Share, Growth Analysis, By Material(Plastic, Glass, Metal, Paperboard), By Packaging(Bottles, Cans, Cartons, Pouches), By Application(Alcoholic Beverages, Non-Alcoholic Beverages, Carbonated Soft Drinks, Juices), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15H2058 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 98 | Figures: 75

Beverage Packaging Market News

  • In August 2023, Crown Holdings, Inc. (NYSE: CCK) has officially completed the purchase of Helvetia Packaging AG, a manufacturing facility specializing in beverage cans and ends located in Saarlouis, Germany. This acquisition marks a strategic move to broaden Crown's European beverage can platform, adding a substantial annual capacity of approximately one billion units.
  • In August 2023, TricorBraun, a prominent global packaging leader, acquired CanSource, a renowned provider of can packaging and associated services. This strategic move serves to enhance TricorBraun's expertise in beverage packaging, reinforcing its position within the North American beverage packaging market.
  • In August 2023, Ball Corporation, a leading beverage packaging company, announced that it has developed a new recyclable aluminum can that is lighter and more durable than traditional cans. The new can is expected to reduce the company's carbon emissions by 10%.
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Beverage Packaging Market size was valued at USD 137.91 billion in 2022 and is poised to grow from USD 144.1 billion in 2023 to USD 196.23 billion by 2031, growing at a CAGR of 4.7% in the forecast period (2024-2031).

The competitive environment of the market is dynamic and characterized by the active participation of key players striving for beverage packaging market share and innovation. Strategic collaborations, mergers, and acquisitions are common strategies employed by key players to expand their market footprint and enhance their technological capabilities. The competitive dynamics are further shaped by the growing emphasis on sustainable packaging solutions, driving companies to invest in eco-friendly materials and practices. 'Amcor Limited', 'Ardagh Group S.A.', 'Ball Corporation', 'Berry Global Inc.', 'Crown Holdings, Inc.', 'Mondi plc', 'Orora Packaging Australia Pty Ltd', 'SIG Combibloc Group AG', 'Smurfit Kappa Group PLC', 'Sonoco Products Company', 'Stora Enso', 'Tetra Pak International SA', 'O-I Glass, Inc.', 'Verallia SA', 'Toyo Seikan Group Holdings, Ltd.', 'CPMC Holdings Limited', 'Vidrala S.A.', 'Alpla Group', 'AptarGroup Inc.'

The rapid urbanization and a shift in consumer lifestyles towards convenience have led to an increased demand for on-the-go and easily transportable beverage products. The burgeoning beverage industry, encompassing both alcoholic and non-alcoholic segments, plays a pivotal role in driving packaging innovations. Additionally, the rising awareness of environmental sustainability has pushed the industry towards eco-friendly packaging solutions. Technological advancements, including smart packaging features and interactive labels, further enhance consumer engagement.

Rising Emphasis on Eco-friendly Materials and Designs to Address: Sustainability emerges as a paramount focus, with a growing emphasis on eco-friendly materials and designs to address environmental concerns. Smart packaging technologies, including QR codes and augmented reality labels, are gaining traction, enhancing consumer engagement and supply chain traceability. Customization and personalization in packaging are on the rise, catering to diverse consumer preferences. The demand for lightweight and convenient packaging solutions continues to grow, aligning with the beverage packaging market trend of on-the-go consumption.

Asia-Pacific is expected to dominate the beverage packaging market due to the region's rapid urbanization, growing population, and rising disposable incomes. The flourishing beverage industry, particularly in countries like China and India, is a significant driver. The demand for innovative and convenient packaging solutions aligns with changing consumer lifestyles and preferences in this dynamic market, solidifying Asia-Pacific's dominant position.

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Global Beverage Packaging Market

Report ID: SQMIG15H2058

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