The kegs market is assessed at US$ 900 Mn in 2022 and is projected to arrive at US$ 1,168 Mn by 2028, at a CAGR of 4.4% from 2022 to 2028.
Recently let information out of kegs market investigation shows that worldwide deals of the general tempered steel kegs market are expected to enroll a CAGR of 4.8% during 2022-2028 alongside holding the market worth of US$ 711 Mn toward the finish of 2028.
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Western Europe followed by the North American locale are projected to hold roughly a portion of a part of the worldwide kegs market toward the finish of 2028.
In addition, the worldwide utilization of steel kegs, regarding units, for capacity and shipment of brew is projected to stay at an unequaled high through 2028, believing it to be the most fitting, savvy and solid for aged refreshments, likewise guaranteeing conservation of unique taste and organoleptic qualities. Worthwhile business roads related with draft brew utilization, is supposed to well effect the worldwide kegs market before long.
“The kegs market experienced soaring growth in 2021 with worldwide revenues up 3.8% year over year. A new forecast by FMI estimates that kegs will increase between 2022 and 2028 along with creating an incremental opportunity of US$ ~300 Mn during 2022-2028.”
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Kegs to Find Increased Adoption as a Promising, Sustainable Packaging Solution
Kegs, as a bundling arrangement in the drinks business, is projected to enter a promising future. Plastic kegs are recyclable and dispense with costly bring operations back. Then again, prevalence of kegs is likewise pushing makers to give barrel on rent, expanding re-utilization of kegs, accordingly its reception.
Conservative and a productive other option, single-use kegs are probably going to observe huge reception in the coming, contrasted with the customary steel kegs. Besides, developing buyer premium in create lagers is pushing the microbrew market, thus, fuelling the worldwide kegs market. Administrative guidelines supporting decreased weight restricts with reference to bundling, will likewise prod kegs reception.
A Highly Consolidated Kegs Market Driving Global Pricing; Substitutes like Eco-Kegs Likely to Smoothen Pricing
Thorough analysis of competition in the global kegs market shows fairly highly market consolidated, dominated by few kegs providers. Currently, companies are competing through offering innovative product portfolio for different end-use industries. Market consolidation leaves few choices for consumers, forcing them to buy kegs at comparatively high costs.
However, in the coming years, the world could witness the emergence of eco-kegs, reducing overall supply of conventional kegs. The introduction of new technology for better palatability of the kegs is also projected to drive the global kegs market. Rubber Steel Kegs are also introduced in the market for ergonomic handling of liquor beverages.
What was the Kegs Market Outlook during the COVID-19 Pandemic?
The kegs market outlook was negative during the COVID-19 pandemic on the back of the factors such as trade restriction by the government, imbalanced supply of raw material, disrupted supply chain, and others. The complete shutdown of restaurants and bars and other retail shops resulted in decreased demand for heavy drinker beverages which ultimately has an adverse impact on the kegs market.
The beginning of 2021 and reduction in restriction creates hope for various end use industries. The end use industries started to operate with full efficiencies. Also, public places such as restaurants & bars, and others started to operate with some limited capacity which creates a growth opportunity for the kegs market.
The key players operating in the kegs market also tried to focus on offering eco kegs to cater for the growing trend of sustainability which gains traction among the end use industries. Overall, the kegs market is forecasted to experience a rise in demand during the forecasted period.
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Competitive Landscape
The key players operating in the kegs market are focusing on expanding their production capacity by investing in new facilities along with the partnership with other global and local kegs manufacturers. Also, the kegs manufacturers are expanding their footprint across the globe.
- In January 2021, Petainer UK Holdings Ltd. announced the opening of its new facility for manufacturing a one-way keg range in Thailand.
- In September 2020, THIELMANN- The Container Company announced to open its second keg servicing hub in Newark during mid-October to facilitate better access to services.
- In January 2020, Blefa GmbH (Blefa Kegs, Inc.) announced the partnership with American Keg, LLC for the production of kegs beer made in the USA which will help the company to improve the production capacity and its efficiency.
Key players in the global kegs market are
- American Keg Company,
- NDL Keg Inc,
- Shinhan Industrial Co, Ltd,
- Ningbo BestFriends Beverage Containers Co. Ltd,
- Blefa GmbH,
- Schaefer Container Systems,
- Petainer UK Holdings Ltd,
- Ardagh Group S.A,
- Julius Kleemann GmbH & Co KG,
- The Metal Drum Company.
The growth in kegs market is mainly contributed by countries in North America—the region witnessing lucrative rise in the market share by 2028. Western Europe is anticipated to be the most attractive market for kegs market during the forecast period, considering substantial purchases made by Germany, France and Italy. Also, Mexico is expected to be at the forefront, spearheading the growth of the kegs market by 2028.
Increased liquor consumption such as beer and wine, is the predominant factor driving the kegs market, globally. Albeit lucrative growth, North America kegs market, is projected to suffer some setbacks in the coming years, owing to rise in steel prices.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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