Global beverage packaging market size to reach $220bn by 2028
The global beverage packaging market size is expected to grow at 5.5% CAGR from 2022 to 2028, according to a report from Exactitude Consultancy.
It is expected to reach above $220 billion by 2028 from $136 billion in 2022. The global beverage packaging market is a large and growing industry that encompasses a wide range of products and materials.
This market is driven by factors such as changing consumer preferences, increasing demand for convenience, and growing awareness of environmental concerns.
Beverage packaging includes a variety of products such as bottles, cans, cartons, pouches, and bags, and is used to package beverages such as water, soft drinks, juices, alcoholic beverages, and dairy products.
The materials used for beverage packaging include plastic, glass, metal, paper, and cardboard.
The beverage packaging market research report offers qualitative and quantitative insights on beverage packaging solutions and a detailed analysis of market share, size & growing rate for all possible segmentation in the market.
Along with this, the beverage packaging market report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape.
Key insights offered in the report are the adoption trends of beverage packaging solutions by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies of leading market players, macro and micro-economic indicators, and key beverage packaging industry trends.
In 2021, the Asia Pacific region was the top revenue contributor in the global market. Beverage bottles and cans made up of PET are experiencing tremendous demand in the region due to low costs and flourishing end-user industries such as RTD juices, tea and coffee, and bottled water.
The region also holds immense potential on account of increasing demand for beverage packaging from emerging economies for instance China and India.
North America is poised to stake the highest CAGR during the forecast period [2022 to 2028]. The robust manufacturing base of global producers such as Tyson Foods Inc.; PepsiCo Inc.; Nestle; Coca-Cola Company; Kraft Heinz Co.; JBS USA; and Anheuser-Busch InBev in the U.S. is anticipated to promote the demand for plastic packaging.
In addition, the rapid expansion of the beverage industry in North America on account of the ‘on-the-go’ lifestyle of consumers is likely to bolster the growth of the regional market over the coming years.