Soft Drink Packaging Market Is Expected To Grow At A CAGR Of ~ 3.95% During Forecast Period 2018–2023
Soft Drinks Packaging Market Research Report— 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 — Global Forecast Till 2023
Market Synopsis of Soft Drinks Packaging Market
Soft drink is generally a non-alcoholic beverage which consists of various flavors and ingredients. It primarily provides hydration, sugars or calories, nutrients, vitamins and many other, based on its ingredients. Soft drinks are consumed by people of all age groups, available in a variety of options such as juices, flavored water, energy drinks, and many others. Since, soft drinks is a ready to consume product, the right quality of packaging is imperative for keeping the product in a perfect condition. Therefore, packaging plays an important role as it provides information about the product content, constituting ingredients, and manufacturing and expiry dates.
The Global Soft Drink Packaging Market is expected to grow at a CAGR of ~ 3.95% during the forecast period of 2018–2023.
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The key players of Global Soft drink Packaging Market report include Amcor Ltd. (Australia), Crown Holdings, Inc. (U.S.), AptarGroup Inc.(U.S.), Ardagh Group Inc. (Luxembourg), Graham Packaging Company (U.S.), Owens-Illinois, Inc.(U.S.), Ball Corporation(U.S.), Tetra Pak International S.A. (Switzerland), Allied Glass Containers(U.K), Bemis Company Inc.(U.S.), CAN-PACK S.A. (Poland), CKS Packaging, Inc. (U.S.) and Mondi Group (South Africa).
Soft Drinks Packaging Market Segmentation
Global Soft Drink Packaging Market is segmented on the basis of material, packaging type, application, size, and region. On the basis of material, it is segmented as glass, plastic, metal, paperboard, and others. Among all, the segment for plastic packaging has landed the highest market share because of its cost-efficiency. Plastic packaging is light weighted and easy to handle which influences the demand positively. With the increasing environmental awareness, consumers are getting increasingly inclined to use biodegradable and eco-friendly plastics. PET bottles, made-up of a plastic resin chemically known as polyethylene terephthalate, are one such type of eco-friendly bottles which are in high demand nowadays.
On the basis of packaging type, the market is segmented as box, bottle, cartons, cans, and others. Only a small percentage of the total manufactured soft drinks is packed in glass bottles as it incurs high transportation and storing cost. The use of glass bottles is reduced because of availability of alternatives like metal cans and PET bottles. Metal cans and PET bottles are lightweight and recyclable and save storage and transportation cost.
Regional Analysis of Global Soft Drink Packaging Market
On the basis of region, the market is segmented as North America, Europe, Asia Pacific and Rest of the World. In 2017, about 202,400 million liters of soft drinks were sold only in Asia Pacific. The driving factor of increasing market in Asia Pacific is the growing overall population and the population of youth in this region, which results in a huge customer base. Another reason for the growing soft drink market is fast-growing economies. China is a leading country in Asia Pacific because of high population. There is very high demand of soft drinks in Argentina because of warm climatic conditions and higher incomes.
June 2017- For improving the packaging of carbonated soft drinks & beer and delivering a unique opening experience to consumers, a new technology - easy to open crown has been launched by CROWN Beverage Packaging. The technology represents a modern advancement of the bottle cap.
The report for Global Soft Drink Packaging Market of Market Research Future comprises extensive primary research findings along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain deeper insight into the market and industry performance. The report gives a clear picture of current market scenario, which includes historical and projected market size in terms of value, technological advancement, macroeconomic and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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