Beverage Packaging Market Trends

Growth Drivers

Rising Consumption of Cider to Boost the Market Growth- As of 2020, it was observed that around 10% of cider was taken by the population living in the North America region.
Cider is one of the highly consumed liquids and gets fitted in the definition of a beverage since it is a liquid intended for human consumption. Cider is typically made by expressing apples and pears. Cider comprises polyphenols that are helpful for the human body to prevent certain types of heart diseases, diabetes, and cancer. Additionally, it also helps the body to fight against inflammation and cell damage. Hence, the consumption of cider is very high and is estimated to boost the growth of the market over the forecast period.
Growing Sales of Bottled Water - It was estimated that in 2019, around 14 billion gallons of bottled water sold out up from nearly 12 billion gallons in 2018.
Increment in the Sales and Production of Beer - In 2021, around 1.8 billion hectoliters of beer were produced which was an increase from 1 billion hectoliters in 2018.
Increasing Awareness Toward Environment Change - Based on the data released by the United States Environment Protection Agency (EPA), it was stated that in 2018, nearly 292.4 million tons of municipal solid waste (MSW) was produced per person.

Challenges

Presence of Alternatives in the Market
Disrupted Supply-Chain on account of COVID-19
Requirement for Higher Initial Investment

Beverage Packaging Market: Key Insights

Base Year	2022
Forecast Year	2023-2033
CAGR	5%
Base Year Market Size (2022)	USD 85 Billion
Forecast Year Market Size (2033)	USD 150 Billion

Frequently Asked Questions (FAQ)

Rising consumption of cider and increment in the sales and production of beer is estimated to majorly boost the market growth.

The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2033.

The presence of alternatives in the market and disrupted supply-chain on account of COVID-19 are estimated to challenge the market growth.

The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are CPMC Holdings Limited, O-I Glass, Inc., Toyo Seikan Group Holdings, Ltd., Crown Holdings, Inc, Vidrala, S.A., Ardagh Group S.A., Ball Corporation, Tetra Pak Group, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

The market is segmented by packaging type, material, product type, and by region.

The dairy segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Beverage Packaging Market Trends