The beverage packaging market was valued at USD 148.1 billion in 2021 and is projected to reach USD 189.0 billion by 2026, expanding at a growth rate of 5.0% during the forecast period. The market is segmented into packaging type, material type, and product type. By packaging type, the market has been segmented into bottle, can, carton, pouch, and other packaging types. The bottle segment is projected to dominate the type segment due to convenience offered in carrying and storing of the formats for beverages. The carton segment is projected to grow at the highest CAGR due to the increase in demand for sustainable and eco-friendly packaging.
The key players making packaging formats for the beverage industry include Amcor Group GmbH (Switzerland), O-I Glass, Inc. (US), Crown Holdings, Inc. (US), Ardagh Group S.A. (Ireland), Verallia SA (France), Tetra Pak Group (Switzerland), Ball Corporation (US), Vidrala S.A. (Spain), Toyo Seikan Group Holdings, Ltd. (Japan), and CPMC Holdings Limited (China) among others.
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Major players in the market are mainly focusing on upon rapid investments in the developing economies to grab a greater number of customers in the coming years. Further, the companies are also focusing upon a strategic partnership with the beverage can manufacturers to promote sustainable packaging of the beverages and to have a smooth client base.
The core strength of the key players identified in this market is their growth strategies such as new product launches, certifications, and expansions among others. Undertaking new product launches and expansions have enabled the market players to enhance their presence in the beverage packaging market. Some of the key strategies followed by the packaging leaders are mentioned below:
Amcor Group GmbH is keen on three components: a focused portfolio, differentiated capabilities, and shareholder value creation. The company focuses on primary packaging for fast-moving consumer goods. It aims to leverage its different capabilities, such as skilled and knowledgeable workforce, commercial excellence, operational leadership, innovation, and cash & capital discipline. The company aims for organic expansion of existing operations by product innovation, strengthening and expanding relationships with customers in emerging markets, and expansion through acquisitions.
O-I Glass, Inc. is focusing on innovation and sustainability in packaging solutions. It aims to improve the customer experience by aligning its activity with customers’ needs and market dynamics and improving quality and flexibility. The company is keen to elevate innovation and new product developments and improve the environmental profile and sustainability. It is focused on improving factory output and efficiency by adopting automation and by managing total systems cost management.
Crown Holdings, Inc., is focused on improving operations in mature markets, such as the US and Canada, by introducing disciplined pricing, cost control, and careful capital allocation, thereby improving results in the mature markets. The company is actively working on improving efficiencies in moving high-quality packaging on shelves faster to benefit their customers. Due to this, it has been improving equipment and software capabilities and forming partnerships with suppliers, design agencies, and other resources.
Beverage Packaging Market by Packaging Type (Bottle, Can, Pouch, Carton), Material Type (Glass, Plastic, Metal, Paper & Paperboard), Product Type (Alcoholic Beverages, Non-Alcoholic Beverages, Dairy Beverages), and Region - Global Forecast to 2026
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