LOS ANGELES, June 06, 2019 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Beverage Container Market (By Material: Plastic, Paperboard, Glass, Metal; By Container Type: Jars & Bottles, Cans, Cartons, Pouches, Bag-In-Boxes; By Application: Non-Alcoholic Beverages [Carbonated Soft Drinks, Dairy, Juices, Bottled Water, Sports Drinks], Alcoholic Beverages [Wine, Beer, Spirit) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”.
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Strong demand for convenient and sustainable consumer packaging solutions will drive market growth for beverage containers. The scope of product application is supported by factors such as aroma retention, strength, heat insulation, sealing and moisture barrier. Growth in the market will fuel the growth of beverage containers in different packages with rising demand for soft drinks, bottled water, ready-to-drink milk and tea alternatives and alcoholic beverages. In 2018 global consumption of beverages is estimated at over 950 billion liters, with significant projected growth.
New opportunities for producers can be created through positive applications for metal cans with increased use of alcoholic and not alcoholic beverages. The growing popularity of mini canned beverages as well as carbonated soft drinks will help metal canned products retain a large share of the market. The increasing need for extended product life and low production costs has prompted players in the industry to focus on developing sustainable and sustainable packaging solutions.
Favorable government rules and guidelines concerning container recycling will further give manufacturers good business prospects. The FDA has established a number of guidelines for container re-use. For example, if the product is considered by the manufacturer to be suitable for reuse, the manufacturer may reuse the container as refillable. The overuse of containers, however, as a rechargeable threat to consumer health, could impair the growth of the market in beverage containers.
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Segmentation Outlook
Plastic is expected to see more than 4% revenue growth by 2026. The segment's growth will be enhanced by numerous benefits compared with conventional materials, including increased safety, light weight, attractive design. Plastic should be preferred to other packaging products by beverage manufacturers, due to their reduced manufacturing costs and their easiness. However, increasing environmental safety concerns are expected to restrict the use of the product during the forecast period.
It is anticipated that by 2026 the non-alcoholic beverage packaging market will hold over 50% of revenues. This segment will be supported by increasing consumer preference for bottled water in the developed and developing regions due to increased concerns about contaminants in drinking water. The demand in the younger generation for functional drinks to add health is driving the non-alcohol market.
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Regional Stance
From 2019 to 2026, the market for Asia Pacific beverage containers will have over 4% CAGR. Improved awareness of healthy and nutritious beverages are key factors affecting the market. Increased consumption of alcoholic drinks is expected to promote industry expansion in economies such as China, India, Japan and South Korea. The trend towards the use of sustainable materials in beverage packaging is driven by growing concerns about the recyclability of disposed containers. The increasing range of beverages in the industry offers market players operating in these regions new growth opportunities.
Key Players & Strategies
Due to the existence of large market players, the global drinking container market is highly competitive. Ball Corporation, Amcor Limited, Rexam Inc., CLARCOR, Silgan Holdings, Huber Packaging Group, Owens-Illinois, and Ardagh Group have been key players in the industry. Fusions and acquisitions, product innovation and expansion of portfolios are some of the key strategies for improving their market share incorporated by industry participants. In February, for example, Ball Corporation announced its plans to build a single-line manufacturing plant in Paraguay and build the capacity of its Buenos Aires facility. This expansion has enabled the company to meet the increasing demand of beverages on the market in Paraguay, Bolivia and Argentina.
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