ALBANY, N.Y., Dec. 10, 2020
- Primary packaging with 80% share leads the global alcohol packaging market, affordable pricing of beer key driver for uptake of beer packaging materials
- Europe held the major market share in 2017, several local players eye substantial avenues in Asia Pacific (APAC) and develop novel packaging materials that meet global standards
ALBANY, N.Y., Dec. 10, 2020 /PRNewswire/ -- The alcohol packaging market has made strides on the back of the changing consumer taste and preferences, especially of beer and liquor. Companies in the alcohol packaging market are relentlessly focused on coming out with environmentally friendly and sustainable packaging. Additionally, they are constantly on their toes on innovating in relation to materials and design to allure consumers.
Rise in demand for convenient packaging in beer, wine, and spirits is a key driver for evolution of the alcohol packaging market. Research analysts at TMR project beer to be the most lucrative application segment, underpinned by affordability of beer. The global worth of the alcohol packaging market stood at US$ 40 Bn in 2017 and is projected to clock CAGR of 5.5% from 2017 to 2025. The valuation is expected to reach US 57.74 bn by the end of 2025.
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Key Findings of Alcohol Packaging Market Report
Explore 233 pages of top-notch research, incisive insights, and detailed country-level projections on Alcohol Packaging Market (Primary Packaging (Bottles, Cans, Liquid Brick Carton, Bag-in Box, Growlers, and Pouches); Secondary Packaging (Boxes, Folding Cartons, Multipacks, and Tubes); Application - Beer, Wine, Spirits, Ciders, and FAB; Material - Glass, Metal, Plastic, Paper and Paperboard) Global Industry Analysis and Forecast 2017 – 2025 at https://www.transparencymarketresearch.com/alcohol-packaging-market.html
Alcohol Packaging Market: Key Driving Factors and Promising Avenues
Analyze global alcohol packaging market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Alcohol Packaging Market: Regional Landscape
On the regional front, Asia Pacific and Europe are lucrative markets. The Asia Pacific is expected to clock CAGR of 5.3% during the forecast period. Rise in target populations and foray made by some prominent players to consolidate their presence are key trends underpinning the attractiveness of the regional market.
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Alcohol Packaging Market: Strategic Approaches
Players should be increasingly focusing on the prevalent environmental laws to decide the packaging materials. For instance, single-use plastics have come under the scanner in most developed and developing nations. Aspiring players must choose their consumer segments carefully and innovate with respect to the design and materials to attract consumers. Given the consumer preferences change very frequently, it is a veritable challenge for alcohol packaging market players to retain consumers for a long time. In this backdrop, players are constantly leaning on bringing innovation, so that consumers have always something new to look for.
Some of the key players in the alcohol packaging market are Beatson Clark Ltd., Owens Illinois Inc., Crown Holdings, Inc., Amcor Limited, Smurfit Kappa Group, and Stora Enso Oyj.
The global alcohol packaging market is segmented based on:
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