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

The global beverage packaging market is segmented and analyzed for demand and supply by product type into dairy, alcoholic, and non-alcoholic beverage, out of which, the dairy segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the higher consumption and distribution of dairy products across the globe. For instance, in 2020, the production of milk was estimated to reach approximately 900 million tonnes.