PUBLISHER: The Business Research Company | PRODUCT CODE: 1409178
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409178
“Alcoholic Beverage Packaging Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on alcoholic beverage packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for alcoholic beverage packaging? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The alcoholic beverage packaging market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Alcoholic beverage packaging pertains to the materials and designs employed for containing and transporting alcoholic drinks. The primary function of external packaging for alcoholic beverages is to securely hold and safeguard the liquid contents.
The principal products in alcoholic beverage packaging include cans, bottles, and other variations. Cans, for instance, are cylindrical containers crafted from materials such as aluminum or steel, commonly utilized for packaging beer, cider, or other alcoholic beverages. These containers, made from materials such as glass, metal, plastic, and others, cater to the packaging needs of a diverse range of alcoholic drinks, including beer, wine, spirits, and more.
The alcoholic beverage packaging market research report is one of a series of new reports from The Business Research Company 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.
The alcoholic beverage packaging market size has grown strongly in recent years. It will grow from $72.02 billion in 2023 to $77.42 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion observed during the historical period can be attributed to various factors, including shifts in consumer trends, adherence to regulatory compliance, efforts in brand differentiation, improvements in supply chain efficiency, and the increasing globalization of markets.
The alcoholic beverage packaging market size is expected to see strong growth in the next few years. It will grow to $99.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be credited to factors such as the adoption of sustainable packaging practices, a trend towards premiumization, the continued growth of e-commerce, increasing emphasis on health and wellness, and the expanding influence of emerging markets. Key trends expected in the forecast period encompass a preference for lightweight and portable packaging, a heightened focus on tamper-evident and security features, a rising popularity of glass alternatives, collaborations with artists and designers for unique packaging aesthetics, and a widespread adoption of eco-friendly materials.
The upward trajectory of alcoholic beverage consumption is poised to drive growth within the alcoholic beverage packaging sector. This surge stems from shifts in societal and cultural norms, increased availability of alcoholic drinks, evolving marketing strategies, and alterations in economic and social landscapes. As global demand for alcoholic beverages continues to rise, the necessity for efficient and innovative packaging solutions intensifies, catering to both consumer demands and regulatory standards. In February 2023, a report by PennState Extension highlighted that alcohol consumption in adults aged 18 and above escalated to 63% in 2022 from 60% in 2021, with a parallel increase to 65% among legal drinking-age adults of 21 years, indicating a significant driver for the alcoholic beverage packaging market.
The burgeoning adoption of sustainable packaging practices is anticipated to propel growth within the alcoholic beverage packaging industry. This approach involves designing, developing, and employing packaging materials and methods that curtail environmental impact across the packaging lifecycle. Embracing sustainable packaging solutions often involves utilizing lightweight materials, optimizing packaging sizes, and streamlining transportation to minimize energy consumption and greenhouse gas emissions associated with production and distribution. Notably, as of January 2023, reports from Protega Global, a UK-based packaging company, underscored that 81% of consumers are now demanding sustainable packaging. Furthermore, 64% of consumers exhibit a preference for retailers offering sustainable packaging, while 50% are willing to pay more for such environmentally conscious packaging and delivery, underscoring its role in driving the alcoholic beverage packaging market.
Technological advancements stand as a prominent trend reshaping the landscape of alcoholic beverage packaging. Companies within this market are actively engaged in developing novel sustainable packaging technologies to fortify their market positions. An exemplar of this trend emerged in October 2022, as Diageo, a UK-based beverages company, collaborated with ecoSPIRITS, a Singapore-based beverages packaging company, to launch the ecoSPIRITS Intelligent Circular Closed Loop Network. This system is tailored to reduce waste and environmental impact within the spirits industry, particularly focusing on packaging and distribution. The introduction of the SmartPour 2.0S Smirnoff Edition, marked as the first Internet-of-Things (IoT) device powered by ecoSPIRITS' cloud-based CircularONE software platform, is aimed at enhancing security, scalability, and efficiency within ecoSPIRITS' global closed loop network.
Key players within the alcoholic beverage packaging sector are driving revenue growth by introducing innovative products, notably biodegradable packaging solutions. These pioneering offerings not only possess biodegradability but also demonstrate a substantial reduction of 90% in water usage compared to conventional packaging methods. An illustrative example occurred in March 2021, as Corona, a Belgium-based company, unveiled biodegradable packaging crafted from barley by-products. The company developed six-pack holders from barley waste generated during the beer-making process, marking a significant stride towards sustainable and eco-friendly packaging. Leveraging barley straw, a residual output from brewing, Corona transforms it into pulp to form the foundation of their biodegradable paper sleeves for six-packs by combining it with recycled wood fibers, ensuring durability while aligning with environmentally conscious practices.
In April 2022, Berlin Packaging, a US-based hybrid packaging supplier specializing in plastic, metal, and glass containers, executed the acquisition of Panvetri S.R.L. for an undisclosed sum. This strategic acquisition serves to bolster, expand, diversify, and enhance Berlin Packaging's market presence across Europe, particularly in Italy. Berlin Packaging is poised to assist Panvetri in augmenting its product portfolio by leveraging its established sales team and robust local footprint. Panvetri S.R.L., situated in Italy, specializes in packaging solutions for alcoholic beverages, olive oils, magnums, and other related products, marking a strategic move to strengthen Berlin Packaging's foothold in the European and Italian markets.
Major companies operating in the alcoholic beverage packaging market report are Mondi plc, Amcor Plc, Ball Corporation, Crown Holdings Inc., Berry Global Group Inc., Tetra Pak International SA, Ardagh Group, Owens-Illinois (O-I) Inc., Krones AG, Orora Packaging Australia Pty. Ltd., Vetreria Etrusca SpA, Brick Packaging LLC, Nampak Limited, Encore Glass Inc., Gerresheimer AG, United Bottles & Packaging, Saint Gobain SA, Ardagh Group SA, Stora Enso Oyj, IntraPac International LLC, WestRock LLC, ProAmpac Holdings Inc., Beatson Clark Ltd., Berlin Packaging LLC, DS Smith plc, Graphic Packaging International LLC, Huhtamaki Oyj, Piramal Glass Limited, Smurfit Kappa Group .
North America was the largest region in the alcoholic beverage packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the alcoholic beverages packaging market report during the forecast period. The regions covered in the alcoholic beverage packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the alcoholic beverage packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
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.