Alcoholic Beverage Packaging Market to Expand At A CAGR Of 4.8% from 2019 to 2025

The global alcoholic beverage packaging market size is expected to reach USD 83.86 billion by 2025 registering a CAGR of 4.8%, according to a new report by Grand View Research, Inc. Increased awareness about sustainable packaging is expected to remain a key factor for the market growth. Rising consumption of premium alcoholic beverages, such as flavored vodka and single-malt whiskey, particularly in developing countries, is also projected to contribute to the market growth. In addition, influence of corporate culture is anticipated to spur the demand for such beverages, thereby supporting market expansion.

Rising popularity of shim drinks is also said to have a positive impact on the market over the forecast period. Premiumization and graphic designing are expected to be the prominent trends influencing the alcoholic beverage packaging market, particularly in the developed countries including Germany and U.K. Glass products accounted for the largest revenue share in 2018 and will retain the dominant position over the forecast period. Glass materials have high demand as they are recyclable and sustainable.

However, plastic product segment is projected to witness the fastest CAGR owing to increasing adoption of Polyethylene Terephthalate (PET) bottles in alcohol packaging. Rising focus of key companies on sustainable packaging is also likely to have a positive impact on the segment growth. For instance, in 2017, Triple Crown Distilling Co. introduced flexible pouches. In 2017, The Smirnoff Co. launched Smirnoff Ice Electric, an RTD alcoholic beverage packed in a resealable plastic bottle.

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Further key findings from the study suggest:

·       In terms of revenue,plastic segment is projected to ascend at the fastest CAGR of 6.3% from 2019 to 2025

·       Beer application segment dominated the global alcoholic beverage packaging market in 2018 and accounted for a revenue share of more than 35% in the same year

·       North America was the dominant regional market in 2018. However, Asia Pacific is projected to be the fastest-growing market from 2019 to 2025

·       The industry is highly competitive in nature. Some of the key companies include United Bottles & Packaging, Vetreria Etrusca, O-I, Encore Glass, Orora Packaging Australia Pty. Ltd., and Tetra Pak International S.A.

Grand View Research has segmented the global alcoholic beverage packaging market on the basis of product, application, and region:

Alcoholic Beverage Packaging Product Outlook (Revenue, USD Billion, 2015 - 2025)

·         Plastic

·         Paper & Paperboard

·         Glass

·         Metal

Alcoholic Beverage Packaging Application Outlook (Revenue, USD Billion, 2015 - 2025)

·         Beer

·         Wine

·         Spirits

·         Others

Alcoholic Beverage Packaging Regional Outlook (Revenue, USD Billion, 2015 - 2025)

·         North America

·         Europe

·         Asia Pacific

·         Central & South America

·         Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com