In the beverage industry, packaging holds a vital role. Effective packaging solution provides benefits such as ease of use, enhanced the user experience, and disposability, thus resulting in an elevated requirement for beverage packaging solutions. The major reason of packaging is to conserve, promote, and protect the product. As per the report, the worldwide requirement for beverage packaging market was priced at USD 108.4 billion in 2015, is projected to achieve USD 138.7 billion by 2021, and is expected to develop at a 4.2% CAGR between 2016 and 2021.
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The market for beverage packaging is directly proportional to the rising requirement for several kinds of beverages. The global market is influenced by numerous factors such as a rise in consumption of beverage and the rising need for longer shelf life of the product. Lightweight packaging substance has become a vital aspect in the market and is having an important impact on the beverage bottles and cans segment. This is further propelled by environmental pressures from regulatory authorities, and less material utilization for packages results in low costs that are always helpful for brands as well as retailers. Furthermore, the strict government rules for environmental safety may influence the growth of the market. Functional drinks consist of RTD tea & coffee, energy drinks, enhanced water & fruit drinks, and sports drinks. The requirement for alcoholic beverages is produced owing to the new flavor introduction in alcoholic beverages, American bourbon and Irish whiskey, and premium alcoholic beverages that will further result in the market growth.
The beverage packaging market is classified on the basis of type, application, and material. The packaging type market is diversified into cans, bottles, carton, and pouch. Cans and bottles represented the noteworthy share in worldwide beverage packaging market. Non-alcoholic, dairy, and alcoholic are major application segment of the market. The material segment consists of plastic, glass, paperboard, and metal. Plastic persists to embody the utmost increasing beverage packaging material owing to the growing consumer requirement and portability.
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The major players in the beverage packaging market include Rexam PLC, Ball Corporation, Reynolds Group Holdings Limited, Amcor Limited, Tetra Laval International S.A., Owens-Illinois, Inc., and Saint-Gobain S.A.
Tetra Pak, a leading food processing, and packaging solutions company, has recently started providing a full range of services to assist food & beverage manufacturers in attaining outstanding manufacturing processes. Tetra Pak Services’ offerings consist of a broad range of services and products that include upgrades, personnel evaluation & customized training, consumables, consulting, and remote equipment monitoring & remote support.