The beverage packaging market has been forecast to increase at a compound annual growth rate (CAGR) of 4.3% over the next five years, increasing from a value of $97.2 billion at the end of 2012, to a total of $125.7 billion by 2018.
Ageing societies in the developed world are driving the demand for easy-to-open features, whilst growing environmental awareness is heightening the demand for environmentally friendly materials. Similarly, the increasingly busy lifestyles and additional work pressures, both in the developed and emerging economies, are driving the demand for a variety of new convenient features in packaging.
The beverage market is a mature sector and includes players that manufacture alcoholic, non-alcoholic, and dairy beverages. As opportunities to grow in the beverage market is saturating, players are struggling to diversify their product portfolio.
Beverage and beverage packaging are two interdependent markets. Any alteration in one may have a direct impact on the other. For instance, both the markets show somewhat similar growing patterns.
According to a recent market report, 'Beverage Packaging Market: Global Trends & Forecast to 2018,' the leading region in beverage packaging in terms of revenue during 2012 was Asia-Pacific, followed by Europe and North America.
In the global beverage packaging market, the major types are bottle, can, pouch and cartons, in which beverages are served. Consumer preferences, product characteristics, and material compatibility are essential to determine the type of packaging for a beverage.
The alcohol segment, although dominated by bottles and cans, are bound to grow in the case of alternative materials for bottling. Similarly, non-alcoholic beverage packages are witnessing a gradual increase in preference for cartons and cans.
Dairy represents the fastest growing sector within the beverage packaging market, driven by growing health concerns and increasing knowledge regarding nutritional values. Following it, non-alcoholic packaging is estimated to be the second fastest growing market in 2013, due to a rise in the consumption of non-alcoholic beverages.
For more information on the beverage packaging market, see the latest research: Beverage Packaging Market
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