Bottle Carriers Market Propelled by Rising Alcohol Consumption and Millennial Demand to Reach US$ 895 Million by 2032

Bottle Carriers Market
Bottle Carriers Market

As per Future Market Insights (FMI), the global bottle carriers market size is anticipated to reach a valuation of US$ 895 Million by 2032. It stood at around US$ 546 Million in 2021 and is projected to exhibit growth at a CAGR of 4.7% from 2022 to 2032.

Rapid growth in alcoholic beverage consumption in various parts of the world with rising disposable income in developing nations and increasing spending on social activities in contemporary communities are projected to boost the bottle carriers market share in the next decade. Alcohol consumption has become socially acceptable and normalized in today’s culture as evidenced by its prevalence at social events, nightclubs, lounges, and other informal settings.

More than any previous generation, millennials are currently exposed to alcohol consumption. Owing to the high demand from millennials, bottle carriers are one of the most common packaging solutions used by beverage manufacturing companies. Bottle carriers are widely used for comfort arrangements and brand expansion, which helps to create an exceptional impression in the customer’s mind. These factors are estimated to push the global bottle carriers market in the next decade.

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With this partnership, TerraCycle will handle all recycling tasks, allowing Hi-Cone to concentrate solely on boosting production. It will assist both businesses in building a presence in various markets to accelerate the use of bottle carriers.

Key Takeaways from Bottle Carriers Market

  • By carrying capacity, the 6 pack rings segment is expected to create an incremental opportunity of US$ 82 Million during the forecast period of 2022-2032.
  • Based on end use, the food & beverage segment is projected to create an absolute dollar opportunity of US$ 268 Million between 2022 and 2032.
  • China is estimated to be the second-largest bottle carriers market in East Asia and reach an estimated valuation of US$ 96 Million by the end of 2032.
  • The U.S. bottle carriers market is set to exhibit considerable potential and is predicted to grow at a CAGR of 3.9% by 2032.
  • The bottle carriers market was estimated to grow at a CAGR of 3.7% in the historic period of 2015-2021.

“Increasing demand for bottle carriers that are made of corrugated cardboard or solid board with an integrated handle for transporting two to six bottles of the same size and shape safely is likely to aid the global market,” says a FMI analyst.

Demand for Sustainable Paper Carrier Rings to Drive the Bottle Carriers Market

Beverage makers are striving to achieve sustainability, which calls for equipment that are adaptable and dynamic & can handle a variety of speeds, strengths, sizes, and forms. Equipment producers can assist beverage companies to position themselves to easily accept sustainability policies and expansion by building new machines to satisfy these objectives.

Due to restrictions on single-use plastic enforced by regulatory authorities in several nations, major participants in the bottle carrier business are making novel carrier rings out of paper. Paper carrier rings provide branding for beverage and beer companies on their surfaces and are reusable. Thus, demand for bottle carriers is anticipated to grow as sustainability becomes more popular.

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Convenience food and beverage consumption has been steadily increasing due to rising consumer purchasing power and busier lifestyles. Makers of food and beverage ingredients are advancing their technology and innovating their products, which is fueling the market expansion. Every day, new products are being introduced on the market.

Several renowned companies are launching new alcoholic and non-alcoholic beverages with unique flavors. High demand for such flavored drinks among millennials across the globe is projected to push sales of bottle carriers as these can be used to transport the beverage easily from one location to another.

Competitive Landscape: Bottle Carriers Market

Some of the leading companies present in the global bottle carriers market include Smurfit Kappa, Roberts PolyPro, Inc, PakTech, WestRock Company, Hi-Cone, Lawson Kegs, Lucky Clover Packaging, Guangzhou Happy Packaging Co.,Ltd , Qingdao Yilucai packaging Co.,Ltd , GWP Packaging,  E6PR, American Canning, Pak-it-Products, Shanghai Woods Packaging Co., Ltd., Menasha Packaging, NEPA Carton & Carrier Co. Inc., Brick Packaging, WP Beverages Carriers, InnoPak and Karlknauer among others.

Get More Insights on Bottle Carriers Market

Future Market Insights, in its new report, offers an unbiased analysis of the global market for bottle carrier market by material (plastic, paper, metal, wood), by carrying capacity (2 pack rings, 4 pack rings, 6 pack rings, 8 pack rings, above 8 pack rings), by end use (food and beverages, healthcare and others (laboratory, agriculture), by region (North America, Latin America, Europe, South Asia, East Asia, Middle East and Africa, Oceania) – Forecast to 2022 – 2032.

About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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