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
Asia-Pacific is Expected to Register Strong Growth
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.
Key Vendors Profiled
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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