New York, NY, July 11, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Alcohol Packaging Market by Packaging Type (Primary Packaging [Bottles, Cans, Bag-in-box, Liquid brick carton, Growlers, and Pouches] and Secondary Packaging [Boxes, Folding cartons, and Others]), by Material Type (Glass, Metal, Plastic, and Paper & paperboard), and by Application (Beer, Wine, Spirits, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global alcohol packaging market was valued at approximately USD 40.2 billion in 2017 and is expected to generate revenue of around USD 54.7 billion by the end of 2024, growing at a CAGR of around 4.5% between 2018 and 2024.
The rapid pace of urbanization in different parts of the world is expected to drive the alcohol packaging market growth over the forecast period. Rising disposable income among the urban population has made a significant contribution to upsurge profit for the alcohol packaging industry. Moreover, changing lifestyles of people and growing consumerism, the introduction of unconventional packaging methods, and development of enhanced materials is expected to further drive industry growth over the forecast period. Increasing consumption of alcohol among youth population is the major driving factor for alcohol packaging market growth. For instance, drinking culture and special activities such as "Oktoberfest" is expected to spur demand for alcoholic drinks.
Browse through 108 Tables & 22 Figures spread over 110 Pages and in-depth TOC on "Global Alcohol Packaging Market Share 2017: Industry Type, Size, Analysis and Forecast to 2024”.
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Branding and marketing strategies are influencing various alcohol manufacturers to invest in the packaging of alcohol. Packaging format has become identical with the identification of brand in the alcohol industry, and it is expected to increase expenses on alcohol packaging in the future years. Development and design of sustainable packaging solutions are expected to boost alcohol packaging market growth in the coming years.
Based on packaging type, the market is bifurcated into the secondary and primary packaging. Primary packaging is further divided into the liquid brick carton, bottles, growlers, pouches, cans, and bag-in-box. Secondary packaging is further divided into boxes, folding cartons, and others. Several pouch formats and new fixture technologies are expected to increase the demand for primary packaging pouches from various end-use industries.
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Based on material type, market is segmented as plastic, glass, metal, and paper & paperboard. Glass packaging products are safe and healthy for a long period as glass is non-reactive with consumable and non-consumable products. Glass is known for reuse and recyclability, it is mostly used material for packaging of non-alcoholic and alcoholic beverages, and also pharmaceutical products. Glass consists of properties such as chemical inertness, sterility, moldable, waterproof, and shapeable, which makes it appropriate for packaging various products.
Europe held a substantial revenue share in 2017, due to increasing consumption and sales of alcoholic drinks in the region. Moreover, increasing health and wellness trends are influencing consumers for high-quality products. However, potential growth opportunities for niche alcoholic drinks of high quality are expected to further drive industry growth over the forecast period. North America alcohol packaging market is accounted to experience a significant growth over the forecast period. Presence of major alcohol companies coupled with rising demand for alcoholic beverages in the region is expected to drive industry growth over the forecast period.
Browse the full "Alcohol Packaging Market by Packaging Type (Primary Packaging [Bottles, Cans, Bag-in-box, Liquid brick carton, Growlers, and Pouches] and Secondary Packaging [Boxes, Folding cartons, and Others]), by Material Type (Glass, Metal, Plastic, and Paper & paperboard), and by Application (Beer, Wine, Spirits, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024 " report at https://www.zionmarketresearch.com/report/alcohol-packaging-market
The Asia Pacific alcohol packaging market size is predicted to grow at the highest growth rate over the forecast period. Market growth is mostly expected in countries such as Japan, India, and China. Over the past decades, consumer preferences for liquor and beverage consumption in China have changed as per capita income has increased and the consumption of beer in the region has also increased. Such factors are expected to drive industry growth in the region.
Latin America alcohol packaging market is accounted to experience lucrative growth rate over the forecast timeframe. The growth is attributed due to increasing tourism activities in countries such as Brazil, which will increase the demand for alcoholic beverages and it is expected to positively impact alcohol packaging market growth over the forecast period.
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The Middle East and Africa region are expected to witness moderate growth in the future years. The restrictions imposed on alcohol consumption by the government of countries such as Saudi Arabia, Kuwait, etc. may curb the growth of alcohol packaging market in the Middle East and Africa region.
Some of the key players operating in alcohol packaging market include WestRock LLC, Amcor Limited, Stora Enso Oyj, Ball Corporation, Smurfit Kappa Group, Ardagh Group S.A., Owens Illinois Inc., Crown Holdings, Inc., Berry Global, Inc., and DS Smith Plc.
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This report segments the global alcohol packaging market as follows:
Global Alcohol Packaging Market: Packaging Type Segment Analysis
- Primary Packaging
- Bottles
- Cans
- Bag-in-box
- Liquid brick carton
- Growlers
- Pouches
- Secondary Packaging
- Boxes
- Folding Cartons
- Others
Global Alcohol Packaging Market: Material Type Segment Analysis
- Glass
- Metal
- Plastic
- Paper & paperboard
Global Alcohol Packaging Market: Application Segment Analysis
- Beer
- Wine
- Spirits
- Others
Global Alcohol Packaging Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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