Global Alcoholic Beverage Packaging Market Forecast 2016-2020
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The global alcoholic beverage packaging market will grow moderately during the 2016-2020 forecast period according to a new report released this past month by Technavio (London, U.K). Change in the lifestyle of consumers, introduction of new products and flavors, and increase in the number of breweries, wineries, and distillers worldwide are some of the major factors driving the global alcoholic beverage packaging market.
The analysts forecast the global alcoholic beverage packaging market to grow at a CAGR of 4.81% during the period 2016-2020.
The report, Global Alcoholic Beverage Packaging Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Many alcoholic beverage packaging companies have started the use of stand-up pouch packaging. Sustainable stand-up pouches are eco-friendly as they are non-toxic and biodegradable. These pouches are also efficient in protecting the quality and essence of the product inside. The global stand-up pouch market was valued at $6.03 billion in 2014. The increased use of pouch packaging is expected to propel the growth of global alcoholic beverage packaging market during the forecast period.
According to the report, increased use of sustainable packaging will be a key driver for market growth. Manufacturers in the alcoholic beverage packaging industry not only develop products to preserve packed alcoholic beverages, but also aim to protect their quality for longer periods. There is also an increase in demand for packaging material that is eco-efficient. Sustainable packaging offers several advantages to alcoholic beverage packaging manufacturers such as reduced weight of packaging products and increased reuse of packaging materials.
This type of packaging also encourages manufacturers to recycle packaging, and helps to increase the volume of recycled content in new packaging. Many companies, including Carlsberg and Heineken, have been using materials that are sustainable. This has resulted in manufacturers gaining a competitive advantage. Hence, increased use of sustainable packaging is predicted to boost the alcoholic beverage packaging market during the forecast period. These trends are likely to be beneficial to the paper and wood based bioproducts sector.
Growing prices of raw materials such as plastic resins and wood/paper pulp may increase the manufacturing cost of packaging as well as reduce vendor margins. For instance, the price of polypropylene was $39.8 per kg in 2013, which increased by 7.64% to $42.84 per kg in 2014. The prices of wood have risen by 10%-15% from 2013, which has led to an increase in the prices of paper pulp. In July 2014, the average price of paper pulp reached $832 per metric ton, which was an 1.84% increase from June 2014.
Key vendors:
- Amcor
- Ball
- Owens-Illinois
- Rexam
- Tetra Laval.
Other prominent vendors:
- Ardagh
- Allied Glass Containers
- Can-Pack
- Crown Holdings
- WestRock
- Nampak
- Plastipak Packaging
- Consol Glass.
Market drivers:
- Rising demand for low-alcohol-content beverage.
Market challenges:
- Potential vertical integration of manufacturers.
Market trends:
- Growing demand for premium alcoholic beverages.
