Beverage Packaging Market Size

Beverage Packaging Market size is poised to reach USD 150 Billion by the end of 2033, growing at a CAGR of 5% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of beverage packaging was USD 85 Billion. The growth of the market can primarily be ascribed to the growing demand for spirits alcohol across the globe. As of 2021, around 4% of the spirits alcohol was consumed while approximately 15 billion liters of spirits were sold out globally.

Global beverage packaging trends such as, rising disposable income across the globe are projected to influence the growth of the market positively over the forecast period. World Bank published a report showing that the adjusted net national income dropped to about USD 8,784 per capita in 2020. Additionally, the growing inclination of the global population toward soft drinks and rising innovation in beverage packaging methods are further anticipated to push the growth of the market during the forecast period. For instance, the soft drink segment was projected to generate total revenue of approximately USD 3 billion. Therefore, all these factors are projected to propel the growth of the market over the forecast period.