Global Beverage Packaging Market: Packaging is referred to activity related to designing, evaluating, and producing a container for a product serving basic purpose of protecting, easy to handle, and storage. Major types of material and components included in food & beverage packaging are rigid plastic, paper & board, rigid metal, glass. Packaging plays an important role in beverage industry apart from keeping the product safe it creates a brand image in mind of consumer and influences their perception towards quality of the product.
Rising demand for cost effective packaging, and longer shelf life of products are key factors driving growth of the global beverage packaging market. In addition, product safety during transportation and increasing use of lightweight packaging material by major manufacturers are major factors expected to fuel growth to the global beverage packaging market.
Stringent government regulations regarding recyclability of disposable beverage products is a key factor restraining growth of the global beverage packaging market. Additionally, increase in health concerns among the general population, and rising demand for eco-friendly packaging are major factors expected to hamper growth of the global beverage packaging market over the forecast period.
The global beverage packaging market report has been segmented on the basis of product type, application, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America is a dominant player in the global beverage packaging market and accounts for highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to high consumption of FMCG products in countries in the region. The market in Europe accounts for the second-highest revenue share contribution to the global beverage packaging market followed by markets in Latin America, and Asia Pacific respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to substantial increase in beverage packaging industries in emerging economies such as India and China.
Major key players in the global beverage packaging market are Allied Glass Containers Ltd, Amcor Limited, Anchor Glass Container Corporation, Metal Container Corporation, Astrapak Limited, BALL CORPORATION, and Anadolu Cam Sanayii A.S.