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NEW YORK , July 21, 2022 /PRNewswire/ -- The "Beverage Packaging Market by Material and Geography - Forecast and Analysis 2021-2025" report by Technavio expects the market size to grow by USD 75.01 billion between 2020 and 2025. The market observed a YOY growth of 4.92% in 2021 and the growth momentum is expected to accelerate at a CAGR of 6% during the forecast period. APAC will emerge as the key market for beverage packaging. Rapid urbanization and increased consumer spending on beverage products are creating significant growth opportunities for vendors operating in the region. Download a Sample Report Here
Technavio categorizes the global beverage packaging market as a part of the global metal and glass containers market within the overall global containers and packaging market. The global metal and glass containers market includes products of metal, glass, or plastic containers, including corks and caps. The global containers and packaging market includes the combined revenue generated by manufacturers/providers of metal, glass, and plastic containers and paper packaging.
The market in focus is fragmented with the presence of many international players. Vendors operating in the global beverage packaging market are setting up plants and offices in different geographic locations to provide effective service to their customers in that particular region.
The rising consumption of bottled water has been instrumental in driving the growth of the market. However, the growing opposition to the use of plastic bottles might hamper the market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market.
Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Amcor Plc, Ardagh Group SA, Ball Corp., Crown Holdings Inc., DS Smith Plc, Mondi Group, O-I Glass Inc., Smurfit Kappa Group Plc, Tetra Laval International SA, and WestRock Co. are among some of the major market participants. View PDF Report Sample
The beverage packaging market is segmented as below:
The market observed maximum growth in the rigid plastics segment in 2021. The increasing demand for products such as juices and dairy beverages, including flavored milk packed in PET bottles is driving the growth of the segment. The market growth in the segment will be significant during the forecast period.
About 47% of the market growth will originate from APAC during the forecast period. Increased product launches by beverage companies and increasing consumption of alcoholic and non-alcoholic beverages are driving the growth of the market in APAC. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The beverage packaging market report covers the following areas:
Beverage Packaging Market 2021-2025: Key Highlights
Accelerate at a CAGR of 6%
APAC, Europe, North America, South America, and MEA
China, US, Japan, Germany, and India
Leading companies, competitive strategies, consumer engagement scope
Amcor Plc, Ardagh Group SA, Ball Corp., Crown Holdings Inc., DS Smith Plc, Mondi Group, O-I Glass Inc., Smurfit Kappa Group Plc, Tetra Laval International SA, and WestRock Co.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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