Beverage industry is witnessing constant changes since the past few decades. Any changes in this market have direct influence on the global beverage packaging market on the whole. The industry is fairly matured, which means the products in the market have strong penetration across multilevel developed and developing markets. Industry for packaged beverages is making its presence felt with rising demand and applications of innovative technologies. According to the experts, good news is that the market is swiftly moving past the economic crisis of 2008. This is reflecting in the growth, penetration and development in beverage packaging industry. As a result, existing businesses and potential investors of the market are expected to have greater prospects for business and investments.
Segments in Beverage Packaging Industry
Global industry for beverages comprises of alcoholic, non-alcoholic and dairy beverages. The market is has reached saturation level in terms of opportunities, which is pushing the businesses to seek diversification in their business portfolios. Both beverages and packaging markets are interdependent and hold similar significance in terms of trends and challenges of future opportunities. Beverages packaging market is largely segmented based on the types of beverages, types of packaging, materials used and geographic regions. Alcoholic and non-alcoholic are the two basic segments in the industry, which are further categorized on the basis of the types of packaging materials, which include bottles, cans and cartons. Geographically, the industry is segmented into North America, Asia Pacific, Europe and rest of the world.
Market Drivers and Future Opportunities
As mentioned before, global market for beverages has reached full maturity, which is forcing the existing business to endeavor across unfamiliar areas. In the similar effort, these businesses are finding great demand from emerging economies. Changing lifestyles across the countries from Asia Pacific, Latin America, Middle East and Africa are driving demand for different alcoholic and non-alcoholic beverages. This demand is directly proportional to the increasing demand for beverage packaging industry as well. Demand for convenient packaging is also significant for the industry. Other significant factors driving the industry include innovative and convenient packaging and adoption of advanced technologies like cartons and packs have also triggered demand in the market.
As a result of innovation, global beverage packaging market is expected to maintain impressive run as far as compound annual growth rate. According to the experts, the industry is anticipated to grow at an estimated CAGR of over 4% from 2012 to 2018. During the forecasting period, the industry is expected to grow from $97.2 billion in 2012 to $125.7 billion by the end of 2018. Europe is expected to dominate the geographic segments, while bottles will dominate the segment of product types. Alcoholic beverages are estimated to dominate the applications segment, while Asia Pacific is expected to be the strongest market driver and shareholder.