Alcoholic beverage packaging: Key market research findings
- Demand for single-serve and multi-packs drives market growth
- EMEA dominates the market geographically
- Key vendors – Amcor, Ball, Owens-Illinois, Rexam, and Tetra Laval
Technavio’s market research analysts predict the global alcoholic beverage packaging market to grow at a CAGR of around 5% between 2016 and 2020. The growth of the market is augmented by the rising demand for single-serve and multi-packs. The rise in the number of single-person households has led to an increased demand for single-serve packs in alcoholic beverage packaging products. This trend opens up opportunities for brand switching, as consumers are not committed to consuming large volumes at a time but rather buy products regularly. At present, liquor bottles are available in sizes including 60 ml, 90 ml, 180 ml, 375 ml, and 750 ml. During 2015, EMEA accounted for almost 45% of the overall market share to dominate the global alcoholic beverage packaging market. Increasing focus on innovative packaging is expected to contribute to the growth of the alcoholic beverage packaging market in EMEA during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the alcoholic beverage packaging segments based on the material.
“Pouch packaging is becoming increasingly popular in the global alcoholic beverage packaging market currently. Pouches are made of multi-level laminates that maintain the quality of alcoholic beverage products. Several alcoholic beverage packaging companies are also making use of stand-up pouch packaging. Sustainable stand-up pouches, which are non-toxic and biodegradable are also gaining traction in the market. Gin, vodka, and tequila are some alcoholic beverages that are available in pouch packaging,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
In 2015, the glass packaging segment was the key revenue generating segment by accounting for more than 63% of the global market’s revenue. The growth of this segment can be accredited to the nonreactive nature of glass products and their ability to prevent the contents from getting spoiled. The rising demand for wine packaging in developed markets, such as North America, is expected to fuel the growth of the glass segment over the next four years. The demand for wine packaging in the US is expected to surpass $3 billion by 2020, growing at a CAGR of around 5%.
The key vendors in the global alcoholic beverage packaging market include Amcor, Ball, Owens-Illinois, Rexam, and Tetra Laval. The market is highly fragmented with the presence of many regional and global players. To sustain market competition, vendors are introducing new and innovative packaging products in different shapes, sizes, and suitability. The market is witnessing positive growth in the developing markets, which is primarily driven by an increase in consumers’ purchasing power parity (PPP) and increased response toward brands and marketing in developing regions. Competition in the market will intensify during the forecast period with the increase in M&A activities by the global players.
A more detailed analysis is available in the Technavio report, Global Alcoholic Beverage Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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