Container Packaging: Key Research Findings
- Growing preference towards plastic packaging
- Increased F&B consumption in developing economies
Technavio has added a new report on the Global Beverage Containers Market 2015-2019 to its container packaging portfolio. Analysts predict that the beverage container market will grow at a CAGR of around 3% between 2015 and 2019, in terms of volume. APAC is dominating the beverage container market, occupying 31% of the market share, followed by Europe, North America, and the ROW. The market in APAC is expected to ship around 341 billion units by 2019 driven by a rise in population, increased industrialization, and infrastructural development.
The new research report from Technavio provides an in-depth analysis of the major drivers and trends responsible for growth, as well as highlights the segments possessing all-out growth potential.
Beverage Container Market in APAC 2014-2019 (billion units)
Source: Technavio Research
Observing the shift in purchasing patterns of consumers, vendors are resorting to producing innovative and visually appealing packaging products. Increasing popularity of plastic-based packaging due to its durability and versatility has augmented the market share of both rigid plastic and flexible plastic packaging products. Also, plastic containers are lightweight, which helps in reducing the shipping and handling costs of vendors, enabling them to undertake aggressive pricing and compete for more market share by offering flexible packaging formats.
“The rise in disposable incomes and the consumption of beverages “on-the-go” by consumers with busy lifestyles have marked-up the demand for beverage packaging. Burgeoning innovations in the market are encouraging business consumers to look for advanced and high value-added packaging products and solutions,” says Sriram Mohan, Lead Analyst, Consumer Good, Retail, Food Services, Technavio Research.
“The percentage of beverage consumption is high in developing economies such as APAC especially China, and other regions like South America and Eastern Europe because of the introduction of various options in F&B consumption and increase in the purchasing power of the consumers, eventually proliferating the demand for packaging material,” says Mohan.
Some of the most prominent vendors dominating the containers market is Amcor Ltd., Ball Corp., Crown Holdings and Rexam plc. The leading players in the market are intensifying their R&D expenditure to counter the competitive threat from vendors in APAC. A deal announced in February 2015 between Rexam and Bali is expected to create a global leader in metal beverage packaging that will be better positioned to cater to customers in Europe, North America, and Latin America.
A more detailed analysis is available in the Technavio report, Global Beverage Containers Market 2015-2019. We can customize reports by other regions and specific segments upon request.
https://www.technavio.com/%3Cp%3E%3Cstrong%3EOther%20Related%20Reports%3A…
