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.
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North America’s Rise as an Opportunistic Alcohol Packaging Market
The North America alcohol packaging market is poised to make a significant impact in 2022, capturing a substantial 19% market share. The region’s promising outlook extends to the future, as it is expected to exhibit the highest growth in the alcohol packaging market. This growth is attributed to the increased consumption of premium alcoholic beverages, with a particular emphasis on spirits and wines. Notably, the United States has been experiencing a rising demand for vodka, highlighting a changing landscape in alcohol preferences.
Europe’s Contribution to Alcohol Packaging Market Growth
Europe is making notable contributions to the growth of the alcohol packaging market, with expectations to accrue 16% revenue by the end of 2022. This growth is driven by the escalating consumption of alcoholic beverages within the region. European consumers are demonstrating a high demand for flavored beer, which has emerged as a premium beverage choice. Furthermore, the consumption of premium alcoholic beverages like French Beer and Whiskey is set to create lucrative opportunities for market expansion throughout the analysis period. Europe’s evolving alcohol preferences and growing market share underscore its role in shaping the global alcohol packaging industry.
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.
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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.
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.
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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.
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