The size of the world market for bottle carriers is estimated at about US$ 546 Million in 2021 and is anticipated to increase at a CAGR of 4.7% from 2022 to 2032. By 2032, it is expected that the market would be worth US$ 895 Million.
The bottle carriers market refers to the industry that produces and sells carriers for bottled beverages, such as water, soda, and sports drinks. These carriers can be made from a variety of materials, including plastic, metal, and fabric, and can come in different sizes and shapes to accommodate different bottle sizes.
Bottle carriers are popular among consumers who lead active lifestyles and need a convenient way to transport their drinks. These carriers can also help reduce waste by allowing individuals to carry reusable bottles instead of disposable ones.
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In order to provide customers with better products, various businesses are investing a significant amount of money in research & development activities. Some bottle carrier market participants are working with recycling businesses to expand their presence. For instance, Hi-Cone, a well-known producer of bottle carriers, partnered up with TerraCycle to recycle waste.
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 Mn 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 Mn 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 Mn 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.
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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.
Increasing Demand for Various Flavored Beverages to Fuel the Bottle Carriers Market
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.
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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.
Market Trends
The bottle carriers market is subject to several trends that are shaping the industry. Some of the most significant trends include:
- Eco-Friendly Options- Consumers are increasingly concerned about the impact of plastic waste on the environment. As a result, many bottle carrier manufacturers are creating eco-friendly options, such as carriers made from recycled materials or carriers that can be reused multiple times.
- Customization Options- Consumers are looking for ways to express their personalities through their belongings, and bottle carriers are no exception. Many manufacturers are now offering customization options, such as personalized designs or colors, to meet this demand.
- Online Sales- The rise of e-commerce has had a significant impact on the bottle carriers market. Many consumers now prefer to purchase products online, and manufacturers are responding by offering their products through online retailers.
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