Value of global beverage packaging market to reach $125.7 billion in 2018
Between 2013 and 2018, the global beverage packaging market is forecast to expand at a compound annual rate of 4.3%. This means that its value will rise from $97.2 billion last year to $125.7 billion by the end of the period.
The prognosis comes from research outfit MarketsandMarkets, which expects the Asia-Pacific region to lead global growth.
Examining the market by packaging types, the report focuses on bottles, cans, pouches and cartons. The right type for a beverage is determined by factors such as consumer preferences, product characteristics and material compatibility. Bottles and cans are currently the dominant type in the alcoholic beverages segment but alternative bottling materials are expected to gain traction. Meanwhile, there is a steadily growing preference for cartons and cans in the non-alcoholic beverages segment. As for dairy drinks, the majority are sold in pouches but flavored and drinkable yogurt is driving up demand for alternative packaging forms, according to MarketsandMarkets.
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In terms of application, alcoholic beverages is the leading market segment but dairy beverage packaging stands out as the fastest growing one. The report attributes that to rising health concerns and awareness about nutrition value. This year, the second place in terms of growth rate is forecast for the non-alcoholic packaging segment, where higher consumption is seen as the driving force behind that growth. Alcoholic beverages packaging still accounts for the largest share of revenues but it will not be able to compete with the other two segments in terms of growth pace due to its maturity, MarketsandMarkets says.