Global Industry Analysts (GIA) has released a new market research report titled ‘Beverage Packaging: A Global Strategic Business Report’. By 2017, the worldwide beverage packaging market is expected to reach $118.8 billion.
The report offers a deeper assessment of the beverage industry, significant trends, and summary of major market participants, strategic business initiatives and new product launches. It also offers projections and estimations of annual sales in Latin America, Canada, US, Europe, Asia-Pacific, Japan, and Rest of World.
Beverage packaging can be availed in various set-ups such as metal cans, plastic bottles, boxes and pouches for packing a wide range of beverages, including carbonated soft drinks, milk and beer. Consumption trends associated to customers’ preferences and commercial beverages are major operating factors for the beverage packaging segment. The worldwide economic downturn and instability in packaging and energy substances have altered users’ spending behaviors. This transformation is mainly observed across developed nations. The economic downturn made users to purchase inexpensive products and this trend is likely to prevail beyond the recession. In spite of such situations, concerns about personal wellbeing, health and surroundings continue to promote inventions in food and beverage packaging segments. Increasing prices of materials and tremendous stress due to recession have made worldwide brands to concentrate on building new products and packaging layouts, focused mainly at budget-conscious clients. Due to the downturn, the packaging layout of beverages has showed a constant transformation in favor of ecological performance and weight and materials reduction.
According to the report, a major share of the worldwide beverage packaging segment is jointly held by the U.S, Asia-Pacific and Europe. Emerging nations are likely to exhibit significant development in the upcoming years in view of increasing income levels and varying lifestyle standards, resulting in increased requirement for packaged drinks. Due to continual increase in beverage consumption, Asia-Pacific nations, particularly in China and India, provide utmost development opportunities for beverage packaging developers.
Plastics continue to dominate the beverage packaging segment as consumes like improved visual appeal, single-serve portions and transportability. These aspects have made beverages promoters to concentrate on using bags and plastic bottles owing to lightweight and reusable properties of plastics as well as effective production technologies related with the designs. A number of beverage marketers prefer plastic packaging to accomplish product separation, and cost and ecological advantages. Metal cans are generally utilized in packing soft drinks and beer. Potential prospects are expected in the growing beverage groups of 8-ounce soft drink containers and energy drinks. The need for aluminum containers is also expected to increase in the upcoming years due to inclusion of innovative and fashionable aspects in the layout, leading to product differentiation in the market. The requirement for glass packaging is augmented by means of continuous need for bottles from wines packaging segment. Development opportunities are also expected on instant and other non-alcoholic types of beverages. Utilizing glass as a major packaging material would benefit the promotion of such products.
Chief market players included in the report are Silgan Holdings, Plastipak Packaging, SIG Combibloc, Rexam, Owens-Illinois, MeadWestvaco, Graphic Packaging Holdings Company, Amcor Limited, Ball, Anheuser-Busch, Berry Plastics, Constar International, Crown Holdings, CCL Industries, and Exal Holdings.
Source: http://www.strategyr.com