Beverage Containers Market Huge Growth by 2026| Toyo Seikan Group Holdings, Ltd., O-I, Silgan Holdings Inc., Sonoco Products Company, Mondi
Global Beverage Containers Market is expected to rise from its initial estimated value of USD 58.64 billion in 2018 to an estimated value of USD 73.54 billion by 2026, registering a CAGR of 2.87% in the forecast period of 2019-2026. This rise in market value can be attributed to the growing need and adoption of bioplastics and preference of sustainable methods of packaging.
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Some of the major competitors currently working in the beverage containers market are Amcor Limited; Liqui-Box; BALL CORPORATION; Ardagh Group S.A.; Toyo Seikan Group Holdings, Ltd.; O-I; Silgan Holdings Inc.; Sonoco Products Company; Mondi; Alcoa Corporation; Reynolds; Crown; Tetra Laval International S.A.; Stora Enso; ProAmpac; CCL Industries; Berry Global Inc.; CKS Packaging, Inc.; CCC Packaging; Evergreen Packaging LLC; Berlin Packaging; Graham Packaging Company and Aditya Birla Management Corporation Pvt. Ltd.
Beverage containers are a type of packaging product which is produced to keep the contents of the package protected and reduce the risks of contamination from external factors. They are available in different shapes and sizes depending on the need of the beverage along with the need of materials for it. These packaging solutions provide branding and content information for the product and promote the appeal of the package.
- Increasing demand for single use beverages containers and packaging offerings which is expected to drive the market growth
- Innovations in the market resulting in advanced product offerings along with focused and strategic marketing initiatives undertaken by the manufacturers of beverages; this factor is expected to drive the market growth
- Lack of recycling capabilities of plastics used in major products for beverage containers amid growing concerns for plastics waste globally is expected to restrain the market growth
Segmentation: Global Beverage Containers Market
By Material Type
- Paper & Paperboard
By Product Type
- Alcoholic Beverages
- Non-Alcoholic Beverages
- Carbonated Soft Drinks
- Bottled Water
- Sports Drinks
- Enhanced Water
- North America
- South America
- Middle East & Africa
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Key Developments in the Market:
- In December 2018, Sonoco Products Company announced that they had completed the acquisition of Clear Pack Company, which will significantly improve the product offerings of Sonoco for plastics packaging products and solutions for the food, beverages, chemicals, and personal care products
- In November 2018, CCC Packaging announced that their subsidiary Reid Canada, Inc. had taken over Polybottle Group Limited and Humberline Packaging Inc., which will help them expand their business operations in Canada along with the introduction of Dura-Lite family of bottles product offerings
Competitive Analysis: Global Beverage Containers Market
Global beverage containers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of beverage containers market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Insights in the report:
- Complete market analysis and forecasting
- Market definition, understanding the concept of beverage containers
- Market drivers and restraints of the industry
- Market segmentations and market share divided amongst them
- Key players in the market and their analysis
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