Soft Drinks Packaging Market Insights and Industry Analysis By Material (Glass, Plastic, Metal, Paperboard), By Packaging type (Box, Bottle, Cartons, Cans), By Application (Carbonated Soft Drinks, Functional Drinks, Juices, And Others) And Region, Competitive Market Size, Share, Trends, and Forecast to 2028
New York, USA, Nov. 23, 2022 (GLOBE NEWSWIRE) — Soft Drinks Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Soft Drinks Packaging Market Information By Material, By Packaging Type, By Application, and Region – Forecast till 2030”, the market is estimated to grow at a 3.95% CAGR to reach USD 148.1 Million by 2028.
Typically non-alcoholic beverages, soft drinks have carbonated air, additional tastes, and additives. Drinks with natural and nutritious content are becoming more and more popular. In the beverage industry, the market for carbonated soft drinks has matured. It has undergone a number of modifications recently, and this state of flux is anticipated to last for the foreseeable future. Consumers have become increasingly health aware in recent years. Nowadays, consumers spend more money on items that are both safe to ingest and keep them refreshed.
Customers want healthy items that offer a variety of flavours. Companies are releasing new items to satisfy these wants while keeping this in mind. Consequently, this increased opportunity for the packaging market of these products.
The economy of developing nations like China and India are expanding, which is increasing people’s disposable income. Now, consumers are expecting more from bottled drinks that are ready to drink.
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|Market Size in 2028||USD 148.1 Million|
|Forecast Units||Value (Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Material, By Packaging Type, By Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||The growth of demand by the growing population in the global market premises.|
|The high demand for soft drinks in developing countries mainly due to a rise in disposable income among individuals.|
Market Competitive Landscape:
The important companies in the soft drinks packaging market are
- Amcor Ltd. (Australia)
- Mondi Group (South Africa)
- Crown Holdings, Inc. (U.S.)
- CKS Packaging, Inc. (U.S.)
- AptarGroup Inc.(U.S.)
- CAN-PACK S.A. (Poland)
- Ardagh Group Inc. (Luxembourg)
- Bemis Company Inc.(U.S.)
The market is more competitive now that there are more players offering packaging options for soft drinks. As a result, the market is moderately fragmented, and many businesses are planning to expand.
Market USP Covered:
The increasing demand for various alcoholic and non-alcoholic beverages around the world is the main factor driving the worldwide beverage packaging industry. The development of the beverage sector as a whole is greatly influenced by the packaging of the beverages. There are many distinct sorts of beverages, and each is presented in a variety of sizes and packaging materials. This is a significant driver of the global beverage packaging market’s expansion. The rising demand for beverage packaging materials worldwide is mostly due to the rising use of carbonated beverages, sports drinks, fruit juices, and other types of beverages. Packaging is now used as a marketing technique for goods. Innovative packaging strategies are often employed to entice clients to place an order.
The need for environmentally friendly packaging solutions is growing in many different industries. Compostable, recyclable, and biodegradable packaging is becoming more and more popular, which is anticipated to spur market expansion throughout the forecast period. An enormous amount of plastic garbage has already been produced due to the broad use of traditional plastics in the past, which has raised environmental concerns and created a severe threat to the ecosystem globally. It would take thousands of years for this debris to degrade. Therefore, it is anticipated that increasing government efforts to minimize the use of plastic will accelerate the adoption of biodegradable and recyclable polymers worldwide. In order to limit their carbon footprint, many countries have also outlawed the usage of plastics derived from petroleum.
Government agencies are developing environmental safety measures in response to the growing environmental issues brought on by the widespread usage of plastic packaging materials. Several regulatory bodies are creating regulations requiring packaging businesses to restrict the use of particular packaging materials.
Solid waste streams contain disturbingly large amounts of plastic, which is dangerous for the ecosystem. Increased use of plastic packaging is associated with deteriorating environmental and human health conditions. As a result, for the best consumer safety, the US federal government and many other nations have adopted packaging rules relevant to drug, cosmetic, and food items. As a result, the growth rate of the global market may slow down in the years to come.
Browse In-depth Market Research Report (117 Pages) on Soft Drinks Packaging: https://www.marketresearchfuture.com/reports/soft-drink-packaging-market-1503
COVID 19 Analysis
The COVID-19 pandemic has had a considerable impact on the packaging business. Numerous nations had to go into lockdown in order to contain the growing number of cases due to the pandemic scenario. The result has been a disruption in the demand and supply chains, which has had an impact on the global market. Due of the pandemic crisis, several operations, manufacturing facilities, and infrastructure projects had to be suspended.
COVID-19 and the fluctuating cost of raw materials required to create packaging have both slowed the market’s rate of expansion. On the plus side, things are beginning to return to normal, which bodes well for future market growth.
Glass, plastic, metal, paperboard, and other materials are the segments depending on material. Due to its cost-effectiveness, the plastic packaging market has been predicted to secure the largest market share.
By Packaging Type
The soft drink packaging industry can be divided into various categories, with respect to the packaging type, such as bottles, boxes, cartons, cans, and others.
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In terms of revenue, the Asia Pacific market for beverage packaging is leading, with the region expected to continue to dominate throughout the review timeline. This results from a higher volume of beverage consumption brought on by the area’s dense population. Additionally, the demand for PET bottles and cans is rising in the area as a result of many advantages, including their low cost, safe packaging solution, light weight, durability, and simplicity of transportation. Additionally, the expansion of fast-food restaurants that include a variety of beverages in their budget-friendly meal packages is elevating the demand for juices and soft drinks.
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