Beverage Packaging Market: Global Trends & Forecast to 2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-18 12:23:01
The global beverage packaging market is suggested to have reached a value of around $97.2 billion by the end of 2012, and is forecast to grow to a total of $125.7 billion by 2018. This suggests a CAGR growth rate of around 4.3% between 2013 and 2018. The leading region in beverage packaging in terms of revenue during 2012 was Asia-Pacific, followed by Europe and North America.
The beverage market is a mature sector and includes players that manufacture alcoholic, non-alcoholic, and dairy beverages. As opportunities to grow in the beverage market is saturating, players are struggling to diversify their product portfolio. Beverage and beverage packaging are two interdependent markets. Any alteration in one may have a direct impact on the other. For instance, both the markets show somewhat similar growing patterns.
The CAGRs of both these markets are about 4.5%. Growing consumption of alcoholic and non-alcoholic beverages provide a strong customer base for the global beverage packaging market. Right packaging types is essential to preserve beverage taste and prevent untoward chemical reactions endangering the consumer´s health. Hence, an efficient and suitable packaging is imperative for every beverage.
In the global beverage packaging market, the major types are bottle, can, pouch and cartons, in which beverages are served. Consumer preferences, product characteristics, and material compatibility are essential to determine the type of packaging for a beverage. The alcohol segment, although dominated by bottles and cans, are bound to grow in the case of alternative materials for bottling. Similarly, non-alcoholic beverage packages are witnessing a gradual increase in preference for cartons and cans. On the other hand, dairy beverages are mostly served in pouches; however, flavored and drinkable yoghurt creates a demand for other forms of packages.
Asia-Pacific has the highest market share and is witnessed to be the fastest growing market the period under review. Europe´s is growth is driven mainly by the East European markets. ROW is also expecting to experience growth in the beverage packaging market in future. . The three most potential nations for beverage packaging i.e., India, China, and Brazil are a part of Asia-Pacific and ROW; hence both the regions are set to experience growth.
In the market, dairy beverage packaging is the fastest growing market, Growing health concerns and knowledge about the nutrition value drives the dairy products. Following it, non-alcoholic packaging is estimated to be the second fastest growing market in 2013, due to a rise in the consumption of non-alcoholic beverages. Alcoholic packaging has the highest share, but the market has reached a maturity level and has a low growth rate as compared to the other two (non-alcoholic and dairy) segments.
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