Beverage Packaging Market Poised to Rake US$ 200 Billion in 2017
The global beverage packaging market is expected to be worth nearly US$ 200 billion in 2017, up from US$ 186 billion in 2015. Demand will be sustained by increasing consumption of packed food and beverages and increase in the number of one-person households in key markets. Advances in packaging technology will continue to shape up the global market, with intelligent packaging expected to gain traction.
Plastics to Account for Over 50% Revenue Share
Beverage packaging manufacturers will continue to rely on plastic for bulk of production, with glass, metal, and paperboard among other key raw materials. Overall, plastics will account for over 50% revenue share by raw material type, with metal a distant second at approximately 24% market share. Benefits of plastic packaging, such as low production costs, easy transportation, and lower weight will continue to make it a preferred raw material for manufacturers. PET, polystyrene, and polypropylene will remain the highest-selling plastics in the beverage packaging market—collectively, they are expected to account for US$ 52.64 billion in revenues in 2017.
Asia Pacific excluding Japan (APEJ) Largest Market
Asia Pacific (excluding Japan) will continue to be the largest market for beverage packaging in 2017. Increasing demand for packed food products will continue to fuel market revenues in the region. The APEJ beverage packaging market is expected to surpass US$ 50 billion in revenues by 2017 and continue to be the largest market for beverage packaging globally.
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North America and Western Europe – the other leading markets for beverage packaging – will continue to post moderate gains. Adoption of advanced packaging technology will witness higher growth in these two regions vis-à-vis APEJ. Collectively, North America and Western Europe will account for nearly half of global beverage packaging market revenues in 2017.
CSD/soda manufacturers will remain the largest application segments in the global beverage packaging market, followed by dairy and juice/soft drinks. Demand for beverage packaging from CSD/soda segment is anticipated to be worth US$ 58 billion in 2017, up from nearly US$ 55 billion in 2015. Plastics will remain the largest product type for CSD/soda, followed by cans and glass bottles.
Leading players in the global packaging market are focusing on creating functional and sustainable packaging that caters to the swiftly changing needs of consumers. Increasing investment in R&D to develop next-generation packaging solutions and strengthening of distribution networks in emerging nations remain key strategic endeavours of beverage packaging brands. The key players profiled in the report include Ampac Holdings, LLC, Amcor Limited, Alcoa Inc., Ball Corporation, Crown Holdings, Inc., Owens-Illinois, Inc., Rexam PLC, Reynolds Group Holdings Limited, SIG Combibloc, Ardagh Group S.A., Tetra Laval International S.A. and Compagnie de Saint-Gobain.
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Long-term Outlook: During the forecast period, 2015-2025, the global beverage packaging market is expected to grow at 3.3% CAGR through 2025, totalling US$ 257.5 billion in revenues. Asia Pacific excluding Japan (APEJ) will remain the largest market for beverage packaging throughout the forecast period 2015-2025.