In the recent past, beverage companies have expanded their operations from manufacturing for local consumers to global ones. Today, as several local beverage makers have evolved into corporate giants, they are constantly researching packaging solutions that are safer and enhance the shelf-life of the product. The world of beverage packaging has been growing at a steady pace with its continuous effort to develop sustainable, cost-efficient, technically sound, and attractive packaging solutions.
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Growing Urbanization Drives Global Beverage Packaging Market
The increasing urbanization, growing investment in the development of retail chains, and increasing disposable incomes are some of the obvious reasons responsible for growth of the global beverage packaging market. The hectic lifestyle of urban dwellers, which leaves little room for adhering to elaborate diet plans, often coaxes individuals into buying packaged beverages over preparing fresh ones. This aspect of the changing lifestyles of today is making a huge contribution to the growth of the global beverage packaging market. The global beverage packaging market will also gain traction as economies emerge and stabilize in various parts of the world.
The global beverage packaging market is segmented on the basis of application, product type, and key regions. The application of beverage packaging is seen for items such as beer, dairy, alcoholic drinks, CSD or soda, juice or soft drinks, mineral and bottled water, energy drinks, and ready-to-drink beverages. The types of products created by players in the beverage packaging market are cans, bottles, liquid cartons, pouches and sachets, and others such as yogurt pots and bulk packaging. Regionally, this market is divided into the Middle East and Africa, Japan, Asia Pacific excluding Japan, Eastern Europe, Western Europe, Latin America, and North America.
Strict Norms Pose a Challenge to Beverage Packaging Market
The major factor hampering the growth of the global beverage packaging industry is the strict regulatory framework governing the material used in making the packaging material. This problem is further complicated by the problem of disposing the waste that packaging materials generate. However, if packaging companies can cater to the demand for eco-friend solutions, it would open the door to a whole new opportunity. This demand has been on the rise, as consumers are also seeking recyclable solutions due to the presence of strict environmental laws.
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The important players in the global beverage packaging market are Ampac Holdings, LLC, Alcoa Inc., Amcor Limited, Ball Corporation, Reynolds Group Holdings Limited, Tetra Laval International S.A., SIG Combibloc, Ardagh Group S.A., Owens-Illinois, Inc., Crown Holdings, Inc., Rexam PLC, and Compagnie de Saint-Gobain. The can packaging segment is being led by players such as Rexam Plc, Ball Corporation, and Crown Holdings Inc. In the next few years, innovative packaging ideas for soft drinks, juices, and beverages by companies such as Tetra Laval International S.A. and SIG Combibloc will completely change the dynamics of this market.