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Unlocking New Possibilities in the Beverage Packaging Market | Industry Expected to Reach $133.3 Billion by 2026

Beverage Packaging Industry Size

Beverage Packaging Industry Size

Beverage Packaging Market to grow at a CAGR of 5.6% and is estimated to reach $133.6 billion by 2026

PORTLAND, UNITED STATES, UNITED STATES, February 9, 2023 /EINPresswire.com/ -- The global beverage packaging market is expected to witness robust growth over the forecast period. This growth is attributed to the increasing demand for convenience, the growing trend of on-the-go consumption, the emergence of innovative packaging solutions and the growing demand for sustainable packaging.

According to a new report published by Allied Market Research, titled, " Beverage Packaging Market by Packaging Material, Beverage Type, and Packaging Type: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global beverage packaging market size is expected to reach $133.3 billion in 2026, from $86.1 billion in 2018, growing at a CAGR of 5.6% from 2019 to 2026. In 2018, Asia-Pacific dominated the market, in terms of revenue, accounting for over 39.4% share of the global beverage packaging market.

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Beverage packaging is a key factor in maintaining the quality and integrity of the product. With the growing international trade and increasing demand for convenience, the demand for beverage packaging is expected to rise over the forecast period. The beverage packaging market is driven by the rising demand for convenience and the growing trend of on-the-go consumption. Moreover, the introduction of innovative packaging solutions and the growing demand for sustainable packaging are expected to drive the beverage packaging market.

The demand for convenience is driving the demand for beverage packaging. With the rise of on-the-go consumption, the demand for beverage packaging is expected to rise over the forecast period. Moreover, the growing trend of single-serve packaging is expected to drive the beverage packaging market. In addition, the introduction of innovative packaging solutions such as stand-up pouches, shrink wraps and spouts are expected to drive the beverage packaging market.

The increased adoption of automation and internet of things (IoT) in beverage packaging has propelled the manufacturing capacities of major players. With the help of automation, packaging manufacturers are now able to maintain product qualities while also reducing the production time. Also, the constant research in the beverage packaging industry is boosting the growth of the market significantly.

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The global beverage packaging market is segmented on the basis of packaging material, beverage type, packaging type, and region. By packaging material, the market is divided into glass, metal, polymers, and paperboard. By beverage type, it is classified into alcoholic beverages and non-alcoholic beverages. By packaging type, the market is classified into bottles, cans, cartons, and others. The others segment includes pouches and bag-in-box type of packaging. The bottles segment holds the highest contribution in the overall beverage packaging market share.

The global beverage packaging market is analyzed across four geographical regions that include North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

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Key Findings of the Beverage Packaging Market :

By beverage type, the non-alcoholic segment dominated the global beverage packaging market in 2018, in terms of revenue.
By packaging material, the plastic segment is expected to be the largest production material employed by the beverage packaging market players globally.
By packaging type, the bottles segment dominated the non-alcoholic beverages sector, in terms of usage.
By region, Asia-Pacific is projected to be one of the most dominant regions and is expected to witness a high growth rate during the forecast period.
The major players operating in the beverage packaging industry include Amcor plc, Ball Corporation, Crown Holdings, Inc, Mondi plc, Orora Limited, Reynolds Group Holdings Limited, SIG Combibloc Group AG, Smurfit Kappa Group plc, Stora Enso Oyj, and Tetra Laval International S.A.

Furthermore, the growing demand for sustainable packaging is expected to drive the beverage packaging market.

More Report -

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David Correa
Allied Analytics LLP
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