Published on : Feb 05, 2018
Albany, New York, February 5, 2018: As the production of alcohol is increasing, the requirement of the alcohol packaging is also rising. Packaging formats have become identical with brand identification in the alcohol industry, which is likely to bring in a rise in the expenditure on alcohol packaging in the near future. According to a new study, which has been added to the mega-repository of Market Research Hub (MRH), improving branding and marketing strategies has prompted several alcohol manufacturers to invest in packaging alcohol. This makes alcohol packaging market highly active across the world. The study is titled as “Alcohol Packaging Market - Global Industry Analysis and Forecast 2017 – 2025” and provides forecast and analysis of the alcohol packaging market on a global level. It provides actual data of 2016 along with estimated data of 2017, and forecast data up to 2025 in terms of value (US$ Mn) and volume (Mn units).
In the present time, increasing per capita income has resulted in more consumers consuming alcohol. This, in turn, is predictable to boost the growth of global alcohol packaging market. As per the key evaluations, the global alcohol packaging market was worth US$40,009.2 mn in 2017, which is expected to be worth US$57,746.9 mn by the end of 2025. At this pace, the demand for alcohol packaging solutions is expected to grow at a CAGR of over 4.7% during forecast of 2017 to 2025.
Factor Impelling Market Growth
- Changing lifestyles and growing consumerism is expected to play an integral role in the development of the global market. Apart from that, the introduction of unconventional packaging methods and development of better materials are also expected to be key drivers of the global market.
- The growth aspects have been further analyzed on the basis of major segments, such as packaging type, application, material and region. By application, the alcohol packaging market has been segmented into beer, wine, spirits, and others (ciders, FAB). Among these, beer segment is expected to dominate the market with around two-thirds of market share by value. By packaging type, the demand for primary packaging is increasing. This is because, primary packaging solutions, such as bottles, cans, growlers are easy to open resulting in ease of consuming.
- Moreover, the report adds that design and development of sustainable packaging solutions are expected to be the global market a solid boost in the forthcoming years. Analysts anticipate that pouch packaging will gain traction in the near future as it a convenient and lightweight to carry. The report observes that demand for sustainable pouch packages will be an emerging trend in the global market.
- On the basis of geography, market research finds that the global alcohol packaging market in the Asia Pacific is expected to show tremendous growth in the near future as the emerging economies in the region are witnessing rapid urbanization.
Moving further, In order to provide users of this report with a comprehensive view of the market, analysts have included detailed competitiveness analysis and company players with their SWOT analysis and strategic overview. Key Players include WestRock LLC, Stora Enso Oyj, Smurfit Kappa Group, Amcor Limited, Intrapac International Corporation, Ball Corporation, Crown Holdings, Inc., Vidrala S.A., Ardagh Group S.A., Owens Illinois Inc., Berry Global, Inc., DS Smith Plc, Gerresheimer AG, Nampak Ltd., Beatson Clark Ltd., and BA Glass Germany GmbH.
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