Major players in the alcoholic beverage packaging market are Mondi plc, Amcor Plc, Ball Corporation, Crown Holdings Inc., Berry Global Group Inc., Tetra Pak International S.A., Ardagh Group, Owens-Illinois (O-I) Inc.
New York, June 15, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Alcoholic Beverage Packaging Global Market Report 2023” – https://www.reportlinker.com/p06466487/?utm_source=GNW
, Krones AG, Orora Packaging Australia Pty. Ltd., Vetreria Etrusca S.p.A., Brick Packaging LLC, Nampak Limited, Encore Glass, and Gerresheimer AG.
The global alcoholic beverages packaging market is expected to grow from $66.80 billion in 2022 to $72.02 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The alcoholic beverages packaging market is expected to reach $93.11 billion in 2027 at a CAGR of 6.6%.
The alcoholic beverages packaging market consists of sale of metal cans, cartons, jars, and pouches.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Alcoholic beverage packaging refers to materials and designs to contain and transport alcoholic drinks. The outside packaging for alcoholic beverages has the primary role of holding and protecting the liquid inside.
North America was the largest region in the alcoholic beverage packaging market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in alcoholic beverages packaging report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of alcoholic beverage packaging are cans, bottles, and others.Can refer to a cylindrical container made of aluminium or steel that is typically used for packaging beer, cider, or other alcoholic drinks, which is used in alcoholic beverage packaging for packaging of beer, cider, and other alcoholic drinks.
These are prepared with glass, metal, plastic, and other materials for beer, wine, spirits, and others.
The rising alcoholic beverage consumption is expected to propel the growth of the alcoholic beverage packaging market going forward.The rising alcoholic beverage consumption has resulted from changes in social and cultural norms, increased availability of alcoholic drinks, changes in marketing strategies, and changes in economic and social conditions.
As the demand for alcoholic beverages is increasing globally, the need for efficient and innovative packaging solutions is also rising to meet consumer demands and regulatory requirements.For instance, in February 2023, according to an article published by PennState Extension, a US-based modern education organization, alcohol consumption in adults aged 18 and above has reached 63% in 2022 as compared to 60% in 2021.
Also, in 2022, the alcohol consumption rate reaches up to 65% for adults with a legal age of drinking 21 years. Therefore, the rising alcoholic beverages consumption is driving the growth of the alcoholic beverage packaging market.
Technological development is a key trend gaining popularity in the alcoholic beverages packaging market.Companies operating in the alcoholic beverage packaging market are developing new sustainable packaging technology to sustain their position in the market.
For instance, in July 2020, Diageo, a UK-based alcoholic and spirit manufacturer in partnership with Pilot Lite, a Uk-based venture management company, launched Pulpex Limited, a sustainable packaging technology company that generates 100% plastic-free spirit bottles made up of paper.The bottles made using this technology are sourced from pulp to meet food safety standards and can be completely recyclable.
This technology allows alcoholic beverage packaging manufacturers to rethink their packaging designs and move their existing packaging designs into paper while maintaining the quality of their products.
In April 2022, Berlin Packaging, a US-based hybrid packaging supplier of plastic, metal, and glass containers and closures, acquired Panvetri S.R.L. for an undisclosed amount. This acquisition strengthens, broadens, diversifies, and enriches Berlin Packaging’s presence in Europe and Italy. Berlin packaging will help Panvetri to expand its product offerings by providing its established sales team and strong local presence. Panvetri S.R.L. is an Italy-based packaging company for alcoholic beverages, olive oils, magnum, and others.
The countries covered in the alcoholic beverages packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The alcoholic beverage packaging market research report is one of a series of new reports that provides alcoholic beverage packaging market statistics, including alcoholic beverage packaging industry global market size, regional shares, competitors with an alcoholic beverage packaging market share, detailed alcoholic beverage packaging market segments, market trends, and opportunities, and any further data you may need to thrive in the alcoholic beverage packaging industry. This alcoholic beverage packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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