Acumen Research and Consulting recently published report titled “Alcohol Packaging Market Size, Share, Analysis Report and Region Forecast, 2022 – 2030”
/EIN News/ — LONDON, June 20, 2022 (GLOBE NEWSWIRE) — The Global Alcohol Packaging Market size accounted for USD 61,983 Mn in 2021 and is expected to reach USD 78,205 Mn by 2030 with a considerable CAGR of 2.7% during the forecast timeframe of 2022 to 2030.
Globally, increased economic growth, combined with increased expenditure on leisure activities, is the main source of competitive advantage that leads to increased alcohol consumption, supporting the expansion of the alcohol packaging market over the forecast period. Growing brand manufacturers’ expertise in differentiating their alcoholic goods based on the packaging is also expected to assist the alcohol packaging market’s growth over the years. Alcohol packaging is vital in brand promotion, resulting in more effective marketing campaigns. Alcohol beverage firms are currently fanatical about providing superior packaging attributes for their products in order to persuade consumers to prefer their brand over others.
Packaging can always have a big influence on customer purchasing decisions. Alcohol packaging is becoming more popular among industry participants as the demand for alcohol packaging rises in parallel with the rise in alcohol output. Alcohol packaging is considered environmentally beneficial because the components used are mostly recyclable. Furthermore, alcohol packaging is both physically beautiful and cost-effective. Alcohol packaging manufacturers help to provide customers with convenient packaging. Primary packaging solutions, such as containers, bottles, and growlers, are easy to open and drink from. This is advantageous for producers searching for novel packaging alternatives.
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|Market||Alcohol Packaging Market|
|Market Size 2021||USD 61,983 Mn|
|Market Forecast 2030||USD 78,205 Mn|
|CAGR||2.7% During 2022 – 2030|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Material, By Alcohol, By Packaging, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Amcol Plc, Beatson Clark, Ball Corporation, Berry Global Inc, Mondi Group, Crown Holdings, Inc, Brick Packaging, LLC, Gerresheimer AG, Tetra Pak International SA, Smurfit Kappa, Owens Illinois Inc., and VetreriaEtrusca SPA.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Alcohol Packaging Market Growth Aspects
Growth in discretionary cash internationally, as well as increasing expenditure on communal activities, are some of the primary influencing elements that jointly lead to an increase in alcohol consumption, which historically fuels the market alcohol packaging market expansion during the projection era. In addition, growing consumer desire for easy-to-open, quick-to-open, and simple liquor packaging designs drives growth in the alcohol packaging industry. Growing brand manufacturers’ understanding of branding their alcoholic products depending on the packaging has also contributed to the expansion of the alcohol packaging business throughout the years. Furthermore, increased awareness among millennials about the negative effects of alcohol drinking may eventually stymie the growth of the alcohol packaging sector. However, the implementation of stringent guidelines restricting the packaging materials used for alcoholic drinks may hinder the growth of the worldwide alcohol packaging market in the coming years.
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Increased Demand for Fortified and Other Premium Ingredients Infused Wine
Product premiumization is one of the primary factors that will likely fuel the rise of fortified wine in the coming years. Leading companies are focusing on the manufacture of novel flavored fortified wines to fulfill growing consumer preferences. Wine is an important part of European cultures, and this trend is spreading to other parts of the world, which include Asian countries. Wine is consumed by young and working-class people in these places as part of a balanced diet, at parties and events, and on rare occasions. These consumer trends are projected to fuel market expansion over the forecast period. The increasing consumption of wine by consumers has been a significant incentive for the industry.
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global alcohol packaging market. The Asia-Pacific dominated the global alcohol packaging market in terms of revenue in 2021 and is expected to continue its dominance during the forecast period. This is attributed to a higher volume of beverage consumption as a result of the region’s large population. The presence of densely populated countries like China and India, as well as increased consumer spending and acceptance of alcohol consumption, will all contribute to market expansion. Furthermore, Alcohol consumption in India increased by 38% between 2010 and 2017, as per a World Health Organization study. It increased from 2.4 liters per adult annually in 2005 to almost 5.7 liters per adult annually in 2016. China is one of the world’s major alcoholic beverage consumers. While the Chinese rice liquor ‘Baijiu’ is still widely used, local demand for wine, foreign beer and spirits has surged in the recent decade.
The global alcohol packaging market has been segmented by Acumen Research and Consulting based on material, alcohol, and packaging. Based on the material, the market is divided into glass, metal, plastic, paper, and others. Based on the alcohol, the market separated into beer, wine, spirits, and others. Based on packaging, the market is categorized into primary, and secondary.
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Some key players covered global in the alcohol packaging industry are Amcol Plc, Beatson Clark, Ball Corporation, Berry Global Inc, Mondi Group, Crown Holdings, Inc, Brick Packaging, LLC, Gerresheimer AG, Tetra Pak International SA, Smurfit Kappa, Owens Illinois Inc., and Vetreria Etrusca SPA.
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About Acumen Research and Consulting:
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
Mr. Richard Johnson
Acumen Research and Consulting
E-mail: [email protected]
originally published at Science - Reality Syndicate Viewers
This news story originally appeared at Science - Reality Syndicate Viewers on 20 June 2022