Technological advancement in packaging industry has led to introduce a huge range of packaging solutions for consumer goods, food and beverage industries. Increasing production of beverages is likely to offer tremendous opportunities for companies providing several beverage packaging solutions. Materials such as glass, plastic (LDPE, HDPE, PP and PET), metal and paper/paperboard are mostly used in production of beverage packaging products.
According to the report by Future Market Insights, the global beverage packaging market is expected to reach US$ 128,000 Mn by the end of 2027. The global beverage packaging market is expected to register a moderate CAGR of 4.1% during the forecast period. An analysts associated with the market researcher has answered some of the key queries regarding the expansion of the global beverage packaging market, and has revealed valuable insights as follows
As per your research analysis on beverage packaging market, which product type is likely to witness high demand across the globe?
According to FMI’s exhaustive study on several regions across the globe, increasing consumption of packaged beverages is observed the most in developed region such as North America and Europe owing to high disposable income of population in these regions. Increasing demand for small packs of beverage cans is expected to have positive impact on beverage packaging market.
According to you, what is trending in beverage industries that is influencing uptake of beverage packaging products during forecast period?
At present, growing trend of on-the-go food consumption is being observed worldwide. Due to this, increasing consumption of beverages such as RTD (Ready-to-drink) beverages, bottled water, milk products and aerated drinks among others is expected to surge demand for beverage packaging products. Moreover, changing lifestyle has led to increase spending on non-alcoholic drinks such as wine, beer and spirit among others which is likely to drive beverage packaging market in the near future.
In terms of application of beverage packaging, where are market players likely to gain traction during the forecast period?
Based on application of beverage packaging, increasing consumption of non-alcoholic drinks is highly likely to strengthen market growth of beverage packaging. Sales of Non-alcoholic beverage is expected to account for maximum value share to represent market size of approximately US$ 72,000 Mn by the end of 2027 at a CAGR of 4.9% during the forecast period. Non-alcoholic drinks like bottles water, milk products and aerated drinks among others are likely to strengthen beverage packaging market during the forecast period.
As per FMI’s demarcation on beverage packaging solutions, where do you think companies gain potential opportunities in future?
Manufactures use raw materials such as plastic, glass, metal and paper/paperboard for beverage packaging products. Among these, growing consumer preference for glass packaged beverages is expected to surge demand for glass raw material. Beverage packaging using glass is expected to touch a value of US$ 53,000 Mn by the end of forecast period.
What do you perceive as the biggest deterrent for the adoption of antimicrobial peptides?
Decreasing consumption of alcoholic beverage is expected to hamper beverage packaging market growth avenues. Germany has witnessed more than 30% drop in alcoholic consumers which is likely to hamper consumption of alcoholic drinks. Thereby, affect beverage packaging market. Another factor is increasing aging population round the world, especially in Japan with more than one-fourth of aged consumer. Due to this, consumption of non-alcoholic beverage like aerated soft drinks is likely to decrease. As a result, demand for beverage packaging is expected to witness sluggish growth in the near future.
According to you, how raw material prices has affected beverage packaging market over the recent past?
Rising prices of raw material is likely to have negative impact on beverage packaging market. Increasing government regulations associated with the rising pollution level due to overuse of plastic and paper packaging has led to emphasize on production of packaging solution made from recycling material. On account of reuse of packaging products and reduction in carbon footprints, manufacturers are high focusing to manufacture recycling beverage packaging products. Thereby, high prices of recycled raw material is expected to hamper beverage packaging market opportunities.
Who are the leading manufacturers to contribute towards market growth of beverage packaging?
Several companies are focusing to diversify their product portfolio with a variety of innovative packaging solutions for versatile application in a cost effective manner. Another area of focus is to channelize long term supply relations in order to gain valuable market share along with large customer base. Europe based companies like Beatson Clark Ltd., BA Glass Germany GmbH and Vidrala S.A. are expected to account for significant value share in beverage packaging market. Other companies operating in North America like Intrapac International Corporation and Silgan Containers LLC are likely to have remain prevalent in the region. Other companies in the Middle East & Africa like Mahmood Saeed Beverage Cans & Ends Industry Company Ltd. and Nampak Ltd are expected to witness profitable gains owing increasing consumption of non-alcoholic beverages in this region.
Request Report Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-196