Press release
Alcoholic Beverage Packaging Market Growth Drivers, Rising Demand, Key Segments And Forecast To 2033
Alcoholic Beverage Packaging Market
The alcoholic beverage packaging market size is expected to see strong growth in the next few years. It will grow to $99.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to sustainable packaging, premiumization, e-commerce growth, health and wellness trends, emerging markets. Major trends in the forecast period include lightweight and portable packaging, focus on tamper-evident and security features, increasing popularity of glass alternatives, collaborations with artists and designers, adoption of eco-friendly materials.
Market Overview -
Alcoholic beverage packaging refers to materials and designs to contain and transport alcoholic drinks. The outside packaging for alcoholic beverages has the primary role of holding and protecting the liquid inside.
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Alcoholic Beverage Consumption Boosts Packaging Market Growth
The rising alcoholic beverage consumption is expected to propel the growth of the alcoholic beverage packaging market going forward. The rising alcoholic beverage consumption has resulted from changes in social and cultural norms, increased availability of alcoholic drinks, changes in marketing strategies, and changes in economic and social conditions. As the demand for alcoholic beverages is increasing globally, the need for efficient and innovative packaging solutions is also rising to meet consumer demands and regulatory requirements. For instance, in February 2023, according to an article published by PennState Extension, a US-based modern education organization, alcohol consumption in adults aged 18 and above has reached 63% in 2022 as compared to 60% in 2021. Also, in 2022, the alcohol consumption rate reaches up to 65% for adults with a legal age of drinking 21 years. Therefore, the rising alcoholic beverages consumption is driving the growth of the alcoholic beverage packaging market.
Competitive Landscape -
Major companies operating in the alcoholic beverage packaging market report are Mondi plc, Amcor Plc, Ball Corporation, Crown Holdings Inc., Berry Global Group Inc., Tetra Pak International SA, Ardagh Group, Owens-Illinois (O-I) Inc., Krones AG, Orora Packaging Australia Pty. Ltd., Vetreria Etrusca SpA, Brick Packaging LLC, Nampak Limited, Encore Glass Inc., Gerresheimer AG, United Bottles & Packaging, Saint Gobain SA, Ardagh Group SA, Stora Enso Oyj, IntraPac International LLC, WestRock LLC, ProAmpac Holdings Inc., Beatson Clark Ltd., Berlin Packaging LLC, DS Smith plc, Graphic Packaging International LLC, Huhtamaki Oyj, Piramal Glass Limited, Smurfit Kappa Group .
Innovative Advances Sustainable Technology Transforming Alcoholic Beverage Packaging
Technological development is a key trend gaining popularity in the alcoholic beverages packaging market. Companies operating in the alcoholic beverage packaging market are developing new sustainable packaging technology to sustain their position in the market. For instance, in October 2022, Diageo, a UK-based beverages company collaborated with ecoSPIRITS, a Singapore-based beverages packaging company and launched the first ecoSPIRITS Intelligent Circular Closed Loop Network. This is a system aimed at reducing waste and environmental impact in the spirits industry, specifically in the packaging and distribution aspects. The SmartPour 2.0S Smirnoff Edition is the first Internet-of-Things (IoT) device to be officially powered by ecoSPIRITS' cloud-based CircularONE software platform, which aims to improve the security, scalability, and efficiency of ecoSPIRITS' global closed loop network. .
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Key Segments -
The alcoholic beverage packaging market covered in this report is segmented -
1) By Product: Cans, Bottles, Other Products
2) By Material: Glass, Metal, Plastic, Other Materials
3) By Application: Beer, Wine, Spirits, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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