World Beverage Container Market: Growth, Trends & Forecasts (2019-2024) - Plastic Packaging Expected to Register Significant Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 14, 2019--
The “Beverage Container Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The Beverage Container Market has seen a wave of innovative packaging solutions over the last few years, in line with the changing consumer consumption patterns and government regulations. Changing consumer lifestyle triggered beverage manufacturers to focus on container design that can clearly differentiate their brand and to make their packing more convenient (lightweight and of different SKUs).
Plastic is the most used material for producing beverage containers. The demand has been driven by packed water, carbonated drinks among others. Government across regions recently learned the staggering impact of plastic packaging on the environment and has levied recycling regulations. Owing to these changes beverage companies are moving towards sustainable packaging practices.
For instance, Coca-Cola which produces 3 million tonnes of plastic packaging per year (equivalent to 200,000 bottles a minute), has switched to sustainable practices such as reducing the weight of the plastic bottles, increase the use of returnable containers (glass), increasing the percentage of recycled plastic in their packaging containers, etc. The company made the change as per the EU’s directives and aims to use 50% recycled content by 2020.
Sustainable practices are expected to become a norm among the beverage industry, considering the demand for beverages and the need to keep up with the regulations. According to Campaign of Rural England (CPRE), around 2 trillion drink containers will be sold in 2018 and the number is likely to exhibit steady growth, owing to the demand for fruit beverages, beer among others.
Overall the market is transitioning towards Glass which is seen as an eco-friendly material, aluminium, and recyclable plastics.
Key Market Trends
Plastic Packaging Expected to Register Significant Growth
- Recyclability, Reusability and the ability to be molded into different shapes makes Plastic and attractive choice for beverage manufacturers. In addition, the material is also capable of enabling beverage companies to enhance convenience (low weight). Further, eco-friendly initiatives by many beverage companies, are expected to fuel the demand for PET containers over the next four years.
- The European Commission adopted a new Circular Economy Package, to assist European consumers and businesses, to make the transition to a stronger and more circular economy. Under these new policies, all plastic packaging in the EU region is expected to be recyclable, by 2030.
- Plastic remains the mos preferred container type for packaging water, besides carbonated drinks and fruit beverages. Nestle, a prominent company in packed water segment recently pledged to increase its use of recycled plastics, including the use of 25% rPET (recycled PET) in its bottles, across Europe, by 2025.
- Growth in the PET bottled water market is aided by the developing economies of China, India, and Brazil, which have registered an increase in the adoption of bottled water, besides the growth in dominant regions such as the US and UK among others.
Asia-Pacific is Expected to Register Strong Growth
- Asia-Pacific is seen as the “go-to region” for food and beverage companies, considering the large population, rapid urbanization, rising number of working women resulting in greater demand prospects. For instance, WWF predicted a 70% growth for dairy consumption in Asia-Pacific by 2025. On the other hand, Asia has continued to be a growth driver for alcoholic drinks, even while the consumption has been either leveling off or dropping in most other places, according to the medical journal, The Lancet.
- In addition to opting for healthy lifestyles, middle and upper-middle-class across the region are willing to pay more for products that comply with health standards, and that meet their expectations for taste, appearance, and packaging.
- Beverage container companies are making significant investments to leverage the demand in the region. For instance, in August 2019, aseptic packaging giant SIG announced the construction of EUR 180 million production plant in China. The new production plant which is expected to become operational in 2021 will cater to Asia-Pacific nutritional food and beverage product companies.
Beverage Container market is highly competitive considering the fragmented nature of the market. Therefore, the buyers of the market (beverage companies) have higher bargaining power. With changing consumer and government expectations, buyers are likely to switch packaging suppliers accordingly. Container manufacturers are adjusting their production capacities and switching to other material containers to keep up with the changing demand.
- July 2019 - Ardagh Group entered into an agreement to combine its Food & Specialty Metal Packaging business with the business of Exal Corporation, a leading producer of aluminum containers, to form Trivium Packaging, in an effort to gain a greater share in the global metal packaging market, with significant enhancement in Europe and North America.
- Aug 2019 - Ball Corporation launched a pilot of infinitely recyclable aluminum cups in the U.S. Ball developed the aluminum cup over the past several years as an alternative to plastic cups for use at home and in other areas where plastic cups are common, including indoor and outdoor venues across the country. The pilot is anticipated to produce a limited supply of aluminum cups through 2020 for use in such locations, which include entertainment venues and major concessionaires.
Key Vendors Profiled
- Ardagh Group
- Piramal Glass Private Limited (Piramal Group)
- Gerresheimer AG
- HEINZ-GLAS GmbH & Co. KGaA
- Owens Illinois Inc.
- SCHOTT AG
- Alpha Packaging, Inc.
- Amcor Limited
- Consolidated Container Company LLC
- Berry Global Inc.
- Comar, LLC
- CKS Packaging, Inc.
- Crown Holdings
- Ball Corporation
- Can-Pack S.A.
- Alcoa Incorporated
- Tetra Pak International S.A. (Tetra Laval)
- Mondi Group
- Amcor Limited
- SIG Combibloc Group
For more information about this report visit https://www.researchandmarkets.com/r/vzinyb
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INDUSTRY KEYWORD: PACKAGING MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 11/14/2019 12:36 PM/DISC: 11/14/2019 12:36 PM