The global alcohol packaging market is poised to demonstrate substantial growth, with an estimated value of $47,225.2 million in 2022, projected to rise at a steady CAGR of 3.9%. By 2032, the market is anticipated to reach a value of $69,235.6 million. This growth is underpinned by the escalating worldwide demand for and consumption of alcoholic beverages, acting as a driving force for the expansion of the alcohol packaging sector.
Several key factors are shaping the trends within the alcohol packaging market. Firstly, there is a rising preference for metal containers, driven by their durability and distinctive aesthetics. Secondly, the market is witnessing heightened beer production, a contributing factor to the industry’s growth trajectory. Additionally, the growing awareness of the importance of eco-friendly packaging solutions is steering the market toward sustainable practices. Lastly, the inherent volatility of raw material costs is influencing packaging choices and strategies within the sector.
Request For a Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-4789
These factors collectively underscore the dynamic landscape of the alcohol packaging market, poised to evolve in response to consumer demands, industry trends, and environmental considerations.
The following are the main variables influencing the market for alcohol packaging trends:
- a growing market for metal containers
- The output of beer is increasing.
- Eco-friendly packaging is getting more and more recognized for its importance.
- the fluctuation in raw material prices
In fact, there are various alcoholic brands in the market which are recognized with their packaging type. In terms of packaging material, glass packaging accounts for a considerable market share in the global alcoholic beverages packaging market. Also, opportunities for players that operate in the alcoholic beverages packaging market lies in the shift in packaging trends related to alcoholic beverages.
Global Alcoholic Beverages Packaging Market – Drivers & Restraints
Growth in disposable income across the globe coupled with further spending on recreational activities is some of the key influencing factors that collectively lead to a growth of the alcohol consumption, which sequentially fuels the growth of the global alcoholic beverages packaging market over the forecast period. Over the years, growing awareness amongst the brand manufacturers about differentiating their alcoholic products based on packaging also contributing to the growth of the alcoholic beverages packaging market. Besides, rising consumer demands for easy to open, convenient packaging format for alcoholic beverages also drives the growth in the alcoholic beverages packaging market.
However, the implementation of stringent regulations on packaging materials used for alcoholic beverages could hinder the growth of the global alcoholic beverages packaging market over the forecast period. Also, growing awareness amongst the younger generations about the adverse effect of alcohol consumption could ultimately hamper the growth of alcohol beverages packaging market.
Global Alcoholic Beverages Packaging Market – Regional Overview
Geographically, alcoholic beverages packaging market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
North America as well as Europe cherishes a higher standard of living due to high disposable income and also are largely inclined towards consumption of premium alcoholic beverages, therefore, North America and Europe particularly the Western Europe are expected to maintain its dominance during the forecast period thus leading to the growth of alcoholic beverages packaging market. Asia Pacific region is likely to witness growth in opportunities in the alcoholic beverages packaging market owing to growth in consumption alcoholic beverages particularly India, China and ASEAN countries and is are anticipated to grow at a significant rate over the forecast period
Global Alcoholic Beverages Packaging Market – Key Players
Few of the key players that currently operate in the alcoholic beverages packaging market are United Bottles & Packaging., Vetreria Etrusca Srl., O-I Packaging Solutions, Encore Glass, Orora Packaging Australia Pty Ltd., Tetra Pak., Creative Glass UK., Brick Packaging, LLC, BALL CORPORATION and many more.
Request Report Methodology: https://www.futuremarketinsights.com/askus/rep-gb-4789
Global Alcoholic Beverages Packaging Market – Segmentation
On the basis of the material used
- Metal
- Glass
- Plastic
- Paper
- Others (wood, etc.)
On the basis of product type
- Cans
- Kegs
- Bottles
- Jars
- Others
On the basis of alcoholic beverages
- Undistilled fermented beverages
- Beer
- Wines
- Cider
- Distilled drinks
- Vodka
- Tequila
- Rum
- Whisky
- Gin
- Others
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube