4 trends that will be shaping beverage containers market dynamics during 2019-2025
Publisher : Fractovia | Published Date : 2019-09-04Request Sample
Growing consumer demand for sustainable, convenient and advanced packaging solutions will drive beverage containers market size over 2019-2025. The demand for sustainable packaging will rise owing to container features such as heat insulation, aroma retention, moisture control, sturdy packaging and more.
In the beverage packaging industry, the foremost types of materials and components used include flexible plastics, rigid plastics, board & paper, rigid metals and glass. Various types of packaging may include can, pouch, carton, bottle, etc. Packaging has a strong impact on customers’ buying decisions. In the current scenario, beverage packaging plays a key role in brand promotion leading to increased brand visibility.
New beverage packaging in the market feature a simplified color scheme and label design to spotlight the products. Transparent bottles and clear film labels are replacing paper labels to showcase the vibrant spectrum of beverage ingredients. Ingredients are also being listed on the front of the bottle, to give good insight to customers about the ingredients they are going to consume.
Changing consumer preferences owing to unlimited beverage options is expected to garner proceeds for beverage container market over the forecast timeline.
Listed below are factors that are anticipated to influence beverage containers market outlook over 2019-2025:
Rising environmental concerns to propel demand for sustainable packaging
Sustainable packaging is relatively a new concept that is being spurred by environmental considerations. With the introduction of sustainable packaging, the goal is to improve the long term viability and quality of life for human beings that align with the longevity of natural ecosystems.
Companies that are into beverage packaging are implementing eco-friendly ways for reducing carbon footprint, reusing more package component and recycled materials. The environmental footprint of beverage packaging is projected to be a key factor shaping the market for beverage producers and retailers. For instance, sustainable beverage packaging solutions have been introduced in various developing and developed regions in response to emerging environmental requirements. Recyclable packaging is gaining a lot of popularity.
With growing focus on lessening negative environmental impact, eco-friendly resins are being used for packaging and other biomaterials are also gaining attention. Beverage containers are necessarily being revamped, a factor that is projected to add impetus to the beverage containers market.
Growing consumer demand for convenient packaging
Convenience packaging has emerged as an increasingly important determinant of worldwide consumer demand. Demand for on-the-go packaging is increasing owing to busy modern lifestyle. For instance, almost two-thirds of all households are supported by two working parents, as per U.S. government data. With more families working more than ever before, demand for convenient package will increase rapidly.
Growing demand for various types of flexible packaging that score well on consumer convenience has bolstered the beverage packaging market and the F&B packaging market, as a whole. Rising health and hygiene concerns among consumers will further bring advancements in convenient and functional packaging and thereby expand beverage container market share.
Premium liquor packaging to contribute exceptionally to the beverage packaging market size
When it comes to purchasing alcohol, millennials across the globe are prioritizing quality over price. Fancy liquor packaging plays a vital role in establishing brand names and gaining consumer attention. Rising spending on alcoholic beverages and an exponential demand for superior and premium alcoholic beverages are projected to bolster alcoholic beverages market size.
Glass packaging accounts for a considerable market share in the global alcoholic beverages packaging market. Veganism is one of the fastest growing trends. More vegan-friendly wines are influencing vegan wine production, which will require the glass bottles because of zero rates of chemical reactions and also because glass packaging ensures intactness of aroma and flavor. In 2019, revenue generated across the globe by the alcoholic drinks market is $1,528,745 million. Expanding liquor market will significantly favor beverage packaging market.
Government regulation for upgrading food and beverage packaging to fuel the beverage container market
In 2016, the FDA released its final rules for updated food & beverage labels. These changes were a revision to the 1990 National Labeling Education Act. Most F&B producers were required to comply to the new rules by 2018, though producers that earned less than $10 million per year in revenue were given time till 2019 to meet the changes.
The updates had a major impact on beverage producers and their products. Some of the specific changes included changes in serving sizes, new record-keeping requirements, nutritional information label mandates, added sugar declarations, and vitamin content labelling.
The FDA has also created mandates for added sugars in beverages. FDA cites sugary beverages as one of the driving forces behind implementing the new rules. As per FDA, on an average, Americans get about 13% of their total calories from added sugars, major sources being sugar-sweetened beverages.
Growing concerns for health issues and surge in demand for functional beverages among millennials is propelling the non-alcoholic beverage market. Nonalcoholic beverage containers market is expected to hold over 50% revenue share by 2025.
Government mandates for sustainable beverage packaging with content labels is expanding the global beverage container market share. Changing consumer choices and competitive markets to cater to consumer needs will expand beverage container market size. As per Global Market Insights estimates, global beverage containers market is anticipated to surpass $250 billion by 2025.
