Global Alcohol Packaging market is expected to grow at a CAGR of 5.2% and is anticipated to reach around USD 91.3 Billion by 2026.
NEW YORK, UNITED STATES, June 25, 2020 /EINPresswire.com/ — Findings from Facts and Factors report “Alcohol Packaging Market By Packaging Type (Primary Packaging and Secondary Packaging), By Material Type (Glass, Metal, Plastic, and Paper & Paperboard), By Application (Beer, Wine, Spirits, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Alcohol Packaging market in 2019 was approximately USD 64 Billion. The market is expected to grow at a CAGR of 5.2% and is anticipated to reach around USD 91.3 Billion by 2026.
Alcohol packaging are convenient and attractive packaging solutions. The increasing consumption of alcohol across the globe has boosted the demand for alcohol packaging. This packaging solution helps promote brands by increasing brand visibility.
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Alcohol packaging is gaining momentum owing to the emergence of manufacturers across the world due to the high consumption of alcohol. Furthermore, the high preference of premium brands, attractive & convenient packaging, easy-to-open, and recyclable packaging solutions is expected to bolster the market growth. The importance of providing precise & clear information regarding alcohol, calorie, and other contents through the labels will further escalate the growth of the global Alcohol Packaging market. In addition to this, the need for promotion of brand quality and increasing public awareness among consumers regarding health concerns attributed to drinking helps promulgate the market. The latest trend of developing new intelligent systems and modifying the structure of packaging materials to help interact with product & environment and also to preserve the beverages will boom the targeted market during the forecast period. Moreover, the rising demand for food security and recreational activities coupled with the high disposable income influences the growth of the Alcohol Packaging market. However, fluctuating raw material costs and enactment of stringent regulations on packaging materials used for alcoholic drinks may restrain the growth of the global Alcohol Packaging market.
Market Segment Dominance:
Glass material type is expected to dominate the global Alcohol Packaging market
The glass is the most preferred material while packaging owing to its low reactivity with alcohol and preserving the chemical composition of the contents stable. Thus, the global acceptance of glass is the reason propelling the growth of glass in the Alcohol Packaging market. The increasing use of glass in the alcoholic beverage industry is increasing due to the demand for content preservation in terms of flavor, aroma, and strength. Furthermore, the growing preference for premium products, innovative packaging, colored glass bottles, and amber-colored bottles among the consumers is expected to show continuous growth during the forecast period, resulting in the growth of the overall Alcohol Packaging market.
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Beer application is expected to lead the market
The high consumption of beer across the globe coupled with the advancements in the brewing technologies are anticipated to boom the global Alcohol Packaging market. Furthermore, the usage of best-quality raw materials have propelled the products demand.
Asia Pacific exhibits the highest CAGR in the global Alcohol Packaging market
Asia Pacific Alcohol Packaging industry is estimated to grow at a faster rate owing to the surging population and presence of both local & major players in the region. Additionally, the high standard of living and changing preferences in alcoholic beverages among the consumers will favor the growth of the Alcohol Packaging market. Moreover, the social acceptance of alcohol consumption in China is found to profit the packaging market in Asia Pacific.
Key Market Players:
Some of the key players in the global Alcohol Packaging market include BA Glass Germany GmbH, Crown Holdings, Inc., Owens Illinois, Inc., Ball Corporation, Intrapac International Corporation, Ardagh Group S.A., DS Smith Plc, Berry Global, Inc., Nampak Ltd., WestRock LLC, Vidrala S.A., Gerresheimer AG, Amcor Limited, Smurfit Kappa Group, Stora Enso Oyj, and Beatson Clark Ltd.
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This report segments the global Alcohol Packaging market as follows:
Global Alcohol Packaging Market: Packaging Type Segment Analysis
Liquid Brick Carton
Global Alcohol Packaging Market: Material Type Segment Analysis
Paper & Paperboard
Global Alcohol Packaging Market: Application Segment Analysis
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