The beer packaging market is expected to register a CAGR of 4.5% during the forecast period 2019
NEW YORK, Nov. 11, 2019 /PRNewswire/ -- Market Overview
The beer packaging market is expected to register a CAGR of 4.5% during the forecast period 2019 - 2024. Over the last few years, the beer packaging industry has been riding a wave of popularity for innovative packaging solutions, a trend which is expected to impact the market significantly.
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- The beer packaging industry has a direct relation with the beer manufacturing industry. During the past decade, due to the changing lifestyle trends and increasing affordability of beer across the globe, beer packaging has gained significant traction.
- The demand for various sizes of beer, and benefits, like one-time consumption, have made beer a preferred option for a wide range of consumers, thereby driving the growth of the beer industry which drives the packaging market also.
- With the growing consumption of craft beer across various regions, the beer packaging market is also witnessing positive growth. Consumers are increasingly preferring craft beer brewed by both small and big breweries.
- On the contrary, consumer preference for wine might act as a challenge to the market owing to the increasing affordability of wine and liquor products, this shift is expected to continue, making more consumers shift towards these commodities.
Scope of the Report
Beer packaging is an extremely important process in the production, transport, and sale of this beverage. The bottling of beverages can be performed into glass bottles, PET ones, and in cans.
Key Market Trends
Glass Packaging is Expected to Hold the Largest Market Share
- Advantages like reusability and the ability to keep beer fresh for a longer period of time compared to other alternative packaging materials, the glass packaging method is estimated to hold the highest share.
- The returnable glass used for packing beer prevents light from entering the bottle and the beer from being skunked, making it a viable packaging option for companies. Moreover, glass adds an authentic look to the packaging and satisfies various consumer preferences.
- Glass has a zero rate of chemical interactions with products, which reduces the risk of spoilage. Taking into consideration the above-mentioned benefits, glass is estimated to hold the highest share over the forecast period.
- Furthermore, an amber glass beer bottle provides 99.9% protection from ultraviolet (UV) rays, and also glass is a great insulator, so it keeps beer colder much longer than any other type of single-use packaging.
- With the increasing beer production in various regions, the packaging market will also witness increasing demand hence, driving the market forward.
Asia-Pacific to Witness the Highest Growth Rate
- The Asia-Pacific beer packaging market is primarily driven by changing cultural trends, the expanding population, growing urbanization, and the rising popularity of beer among the younger population.
- Owing to the various investments and higher penetration of beer in different regions, this trend for beer in this region is expected to continue and grow which will boost the packaging market.
- Heineken, an Amsterdam-based company, increased its stake in United Breweries, India's largest beer manufacturer, thereby offering high growth potential for beer packaging industry in the country.
- Furthermore, a significant rise in the number of working-class individuals and with the increase in disposable incomes of the people in this region, these factors have favored the adoption of premium and high-quality beers in this region which is driving the beer packaging market.
Competitive Landscape
The beer packaging market is competitive owing to the presence of various international and domestic manufacturers. The market appears to be fragmented with the vendors competing in terms of price, capacity, volume, product quality, and technological innovation in the market. Some of the major players in the market are Amcor Limited, Ardagh Group S.A., Ball Corporation among others.
- April 2018 - Crown Holdings Inc. completed its previously announced acquisition of Signode Industrial Group Holdings (Bermuda) Ltd., a leading global provider of transit packaging systems and solutions, from The Carlyle Group.
- September 2018 - Carlsberg had announced its new Snap Pack, which is set to reduce plastic waste globally by more than 1200 tonnes a year, the equivalent to 60 million plastic bags. The Snap Pack replaces the plastic wrapping used around Carlsberg's six packs with a pioneering technology that glues its cans together.
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