Heavy Investments by Beverage Giants in Asia Pacific to Propel Market Growth
The Asia Pacific region is a significant contributor to the global beverage packaging market. China and India are expected to spearhead the Asia Pacific beverage packaging market growth over the forecast period. Countries in the Asia Pacific region, such as India, have witnessed rapid penetration of modern retail outlets, especially in the urban areas. Easy access to hypermarkets and supermarkets has enabled an increase in the consumption of beverages such as soft drinks as well as alcoholic beverages in the beverage packaging market. This has enabled beverage giants such as PepsiCo and The Coca-Cola Company to invest heavily in the areas of production, enhancing their manufacturing capacity, and improving their supply chain, all of which have led to increasing demand for beverage packaging solutions in these regions. The increase in per-capita incomes of consumers in the region has facilitated the exponential growth of the beverage packaging market in the Asia Pacific region.
Growing Adoption of on-the-go Lifestyle among Consumers to Increase Preference for Beverage Cans
FMI reports an increasing demand for smaller packs, which creates opportunities for growth in demand for beverage packaging, especially cans. Moreover, the increasing trend of on the go food consumption is expected to present opportunities for the growth of the glass and metal beverage packaging market. Furthermore, bottled water is one of the few packaged beverages which has witnessed a rapid growth in terms of consumption. Manufacturers have been quick to capitalize on this trend and have been investing substantially in enhancing the output of their production lines to cater to this growing demand in the beverage packaging market. Key factors responsible for the growth of bottled water consumption in the beverage packaging market are the bad quality of tap water available in some areas and increased tax on sugary drinks. A rise in sugar drink tax has led to a decrease in consumption of carbonated drinks, and catapulted the demand for bottled water in the beverage packaging market. This trend is expected to continue over the forecast period, with more consumers, especially from strong middle-income households opting for bottled water. Thus, manufacturers can gain lucrative opportunities by focusing on the bottled water segment in the beverage packaging market.
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Increase in Geriatric Population Leading to Decline in Sales of Beverage Packaging for Alcohol
Countries such as Japan has a shrinking young population (between ages of 18-35 ) and aged consumers (over 60 years) account for more than 1/4th of the population in Japan. This has resulted in declining soft drinks sales in the country, which might affect the growth of beverage packaging market over the forecast period.
Beverage Packaging Market Structure Analysis
The beverage packaging market is highly fragmented packaging market. Key players operating in the global market for beverage packaging include Huhtamaki Oyj., Brodrene Hartmann A/S, UFP Technologies, Inc., Crown Holdings, Inc., Amcor Limited., Ardagh Group S.A., Ball Corporation, Gerresheimer AG., Owens-Illinois, Inc., Berry Global, Inc., Beatson Clark Ltd., Intrapac International Corporation, BA Glass Germany GmbH., Nampak Ltd., Vidrala S.A., Silgan Containers LLC., Mahmood Saeed Beverage Cans & Ends Industry Company Ltd., and Orora Packaging Australia Pty Ltd.
FREQUENTLY ASKED QUESTIONS ABOUT Beverage Packaging Market
What are future prospects for the beverage packaging market?
The beverage packaging market is anticipated to witness an impressive growth rate, with the market creating an incremental opportunity of US$ 38.9 Bn by the end of 2027.
What is degree of competition in the beverage packaging market?
The beverage packaging market is fragmented and has an intense competition landscape with a large number of regional and local market players. Crown Holdings Inc., Ball Corporation, Ardagh Group S.A., and Amcor Limited are some of the significant players in the beverage packaging market.
Which region is expected to generate the highest sales in the beverage packaging market?
The APEJ region is expected to witness maximum growth in the beverage packaging market, due to the rise of on-the-go consumption habits. Increasing disposable incomes, and a fast-paced lifestyle, coupled with easy access to retail outlets, are other factors that enable more consumers to opt for packaged beverages, especially in developing countries such as India.
What percent of the market share can market stakeholders derive from liquid cartons over the next decade?
The liquid cartons segment is expected to hold market share of more than 30% of the global beverage packaging market during the forecast period. FMI projects promising growth for liquid cartons, with the segment anticipated to grow 1.5x over the forecast period.
How will plastic bottles create new value-adding business opportunities for market players?
Key players such as Ball Corporation and Crown Holdings, Inc. emphasize on smart packaging technologies such as smart water bottles and beverage cans, which are light-weight, easy to chill, and open.
Which companies are investing significantly in the development of innovative products?
Players such as Berry Global, and Owens-Illinois, Inc. are focusing on acquisitions & collaborations in the beverage packaging market. In contrast, small players such as BA Glass Germany GmbH, and Intrapac International Corporation are putting emphasis on product development in order to sustain their positions in the market over the forecast period.
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