(Entertainment-NewsWire.com, February 23, 2018 ) The Global Beverage Packaging Market was worth USD 113 billion in 2016 and is estimated to be growing at a CAGR of 4.29%, to reach USD 139.41 billion by 2021. The market is projecting a steady growth in the mentioned forecasting period. Beverage packaging is an important aspect of the beverage industry; it only gives the companies a head start through its ease of use but also helps in distinguishing the brand from its competitors. Growing lifestyles in the developing countries is boosting the global beverage packaging market.
Global Beverage Packaging Market will reach USD 139.41 billion by 2021
The market is driven by the rapid growth in the way of living of consumers in the developing economies. Ease of access, mobility of products and disposable nature are some of the factors which positively affect the beverage packaging industry. Beverage packaging is now a days also used as a marketing tool because of the growing consumer preferences for product information and convenience.
The major factor restraining the growth of plastic segment is due to the environmental concerns over plastic’s re-use. While, glass and metal are economically expensive than plastic, plastic does a significant contribution in the rising pollution levels. These are some of the factors which hinder the growth of the beverage packaging industry.
The beverage packaging market was dominated by Asia-Pacific, with the overall market share of approximately 30% globally. Asia-Pacific was followed by Europe and North America. Asia Pacific is predicted to grow at a rapid pace in the coming few years.
Some of the major companies dominating the market, by their products and services include Saint-Gobain S.A., Ball Corporation, Tetra Laval International S.A., Stora Enso Oyj, Rexam PLC, Owens-Illinois, Inc., Crown Holdings, Inc., Mondi PLC, Reynolds Group Holdings Limited, Amcor Limited, and Alcoa Inc.
Global Beverage Packaging Market Segmentation:
By Type: Bottle, Can, Pouch and Carton
By Material: Glass, Plastic, Metal and Paperboard
By Application: Alcoholic, Non-Alcoholic and Dairy
By Geography: North America, Europe, APAC, Latin America and Middle East & Africa
Key Players: Saint-Gobain S.A., Ball Corporation, Tetra Laval International S.A., Stora Enso Oyj, Rexam PLC, Owens-Illinois, Inc., Crown Holdings, Inc., Mondi PLC, Reynolds Group Holdings Limited, Amcor Limited, and Alcoa Inc. and Others
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