Beverage Container Market Analysis | 2023-2028

Market Insights

"The global beverage container market size was estimatd at USD 101.72 billion in 2022 and is likely to grow at a CAGR of 4.59% duing 2023-2028 to reach USD 133.55 billion by 2028".

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Market Dynamics

Introduction

Beverage Containers are made of an assortment of materials, such as aluminum, tin, steel, plastic, glass, paper, and their combinations. They are used to store and preserve both alcoholic and non-alcoholic beverages.

Market Drivers

Growing awareness regarding vehicular pollution, increase in financial incentive and spending for supporting infrastructure, growing requirement for clean mobility & transportation solutions, and government initiatives to decrease dependency on crude oil are some of the major factors driving the market growth during the forecast period.

Restraining Factors

The global reduction of single-use plastics has led to the industry seeking sustainable alternatives, which often come with higher production costs. Fluctuations in raw material prices, particularly for aluminum and glass, can affect the cost structure of beverage containers. Regulatory hurdles, such as varying recycling systems and deposit schemes, pose challenges for manufacturers. Consumer perceptions of taste and safety, such as the potential leaching of chemicals from plastics, and the economic impact of the COVID-19 pandemic have disrupted supply chains and created market uncertainties.

Segments' Analysis

By Material Type

"Glass is expected to register maximum growth during the forecast period".

• The market is segmented as plastic, metal, glass, and paperboard.
• The growth of the segment is owing to the ability of glass, such as it helps retain the strength, aroma, and flavors of beverages in businesses such alcohol. Also, as the material is 100% recyclable, it is an environmentally-friendly packaging solution. Six tons of recycled glass saves six tons of virgin materials and reduces CO2 emissions by one ton. The substance has no odor, is chemically inert, and resists gases and vapors.

By Container Type

"In 2022, the bottles and jars segment held the largest market share, accounting for over 40% of revenue".

• The market is segmented as Bottles & Jars, Cartons, Cans, Bag-In-Boxes, Pouches, and Others [Cups, Tubs, and Bowls].
• This segment's popularity is attributed to its versatility and wide-ranging applications, serving as the preferred packaging for various beverage categories like water, carbonated drinks, juices, and alcoholic beverages. Its ability to preserve freshness, prevent contamination, and ensure convenient consumption is a key factor in its dominance. The segment's adaptability and ubiquity make it the most essential component of the beverage container market.

By Application Type

"Alcoholic beverages dominated the market in 2022, and are expected to maintain their incontestable leads during the forecast period".

• The market is segmented as alcoholic beverages and non-alcoholic beverages.
• The segment's growth is driven by two key factors: increased global consumption of alcoholic beverages and a focus on recycling. Containers are being developed by major industry players with the goal of preserving alcohol qualities for a longer period of time, consequentially increasing the need for sustainable materials, thus propelling the growth of the market for beverage containers, globally.

Regional Analysis

"Asia-Pacific commanded the market for beverage containers in 2022, and is estimated to lead the market during the forecast period as well".

• The region’s market is bolstered by changing consumer tastes and significant growth in the emerging economies such as India, China, Indonesia, and Malaysia. Furthermore, significant demand for glass bottles from the alcoholic beverage industry, is likely to generate a massive thrust to the growth of the market.

"North America and Europe are also expected to offer substantial growth opportunities over the forecast period".

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Key Players

The following are the key players in the Beverage Container Market (arranged alphabetically).

• Amcor Limited.,
• Anchor Glass Container Corporation,
• Ardagh Group,
• Ball Corporation,
• CLARCOR, Magna International Inc.,
• Owens-Illinoin,
• Rexam,
• Silgan Holdings,
• Toyo Seikan Group Holdings

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

• This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.
• We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the container types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.