NEWARK, Del, Sept. 29, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights (FMI), the global bottle carriers market size is anticipated to reach a valuation of US$ 895 Mn by 2032. It stood at around US$ 546 Mn in 2021 and is projected to exhibit growth at a CAGR of 4.7% from 2022 to 2032.
Bottle carriers are developed in a way that makes them simple to use and highly convenient to manage for takeout. To differentiate their products from rival companies, producers frequently print unique designs and other graphics on the carriers. Consumers may transport the food and beverage safely without causing any damage owing to the availability of durable carrier handles.
In the healthcare sector, these carriers are mainly used to transport or store chemicals, whereas in the food & beverage sector, they are used to transport or store beverages. Bottle carriers come in a wide variety of sizes and styles as per consumers’ requirements. Several market participants are nowadays providing their clients with personalized products. Bottle carriers are made from a variety of materials, including plastic, metal, and paper. The most frequent type of material utilized to make bottle carriers is high density polyethylene (HDP).
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In order to provide customers with better products, various businesses are investing a significant amount of money in research & development activities. Some bottle carrier market participants are working with recycling businesses to expand their presence. For instance, Hi-Cone, a well-known producer of bottle carriers, partnered up with TerraCycle to recycle waste.
With this partnership, TerraCycle will handle all recycling tasks, allowing Hi-Cone to concentrate solely on boosting production. It will assist both businesses in building a presence in various markets to accelerate the use of bottle carriers.
Key Takeaways from Bottle Carriers Market
- By carrying capacity, the 6 pack rings segment is expected to create an incremental opportunity of US$ 82 Mn during the forecast period of 2022-2032.
- Based on end use, the food & beverage segment is projected to create an absolute dollar opportunity of US$ 268 Mn between 2022 and 2032.
- China is estimated to be the second-largest bottle carriers market in East Asia and reach an estimated valuation of US$ 96 Mn by the end of 2032.
- The U.S. bottle carriers market is set to exhibit considerable potential and is predicted to grow at a CAGR of 3.9% by 2032.
- The bottle carriers market was estimated to grow at a CAGR of 3.7% in the historic period of 2015-2021.
“Increasing demand for bottle carriers that are made of corrugated cardboard or solid board with an integrated handle for transporting two to six bottles of the same size and shape safely is likely to aid the global market,” says a FMI analyst.
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Demand for Sustainable Paper Carrier Rings to Drive the Bottle Carriers Market
Beverage makers are striving to achieve sustainability, which calls for equipment that are adaptable and dynamic & can handle a variety of speeds, strengths, sizes, and forms. Equipment producers can assist beverage companies to position themselves to easily accept sustainability policies and expansion by building new machines to satisfy these objectives.
Due to restrictions on single-use plastic enforced by regulatory authorities in several nations, major participants in the bottle carrier business are making novel carrier rings out of paper. Paper carrier rings provide branding for beverage and beer companies on their surfaces and are reusable. Thus, demand for bottle carriers is anticipated to grow as sustainability becomes more popular.
Increasing Demand for Various Flavored Beverages to Fuel the Bottle Carriers Market
Convenience food and beverage consumption has been steadily increasing due to rising consumer purchasing power and busier lifestyles. Makers of food and beverage ingredients are advancing their technology and innovating their products, which is fueling the market expansion. Every day, new products are being introduced on the market.
Several renowned companies are launching new alcoholic and non-alcoholic beverages with unique flavors. High demand for such flavored drinks among millennials across the globe is projected to push sales of bottle carriers as these can be used to transport the beverage easily from one location to another.
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Competitive Landscape: Bottle Carriers Market
Some of the leading companies present in the global bottle carriers market include Smurfit Kappa, Roberts PolyPro, Inc, PakTech, WestRock Company, Hi-Cone, Lawson Kegs, Lucky Clover Packaging, Guangzhou Happy Packaging Co.,Ltd , Qingdao Yilucai packaging Co.,Ltd , GWP Packaging, E6PR, American Canning, Pak-it-Products, Shanghai Woods Packaging Co., Ltd., Menasha Packaging, NEPA Carton & Carrier Co. Inc., Brick Packaging, WP Beverages Carriers, InnoPak and Karlknauer among others.
Get More Insights on Bottle Carriers Market
Future Market Insights, in its new report, offers an unbiased analysis of the global market for bottle carrier market by material (plastic, paper, metal, wood), by carrying capacity (2 pack rings, 4 pack rings, 6 pack rings, 8 pack rings, above 8 pack rings), by end use (food and beverages, healthcare and others (laboratory, agriculture), by region (North America, Latin America, Europe, South Asia, East Asia, Middle East and Africa, Oceania) – Forecast to 2022 – 2032.
View Full Report @ https://www.futuremarketinsights.com/reports/beverages-and-bottles-carriers-market
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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