Alcohol Packaging Market-Overview
The uptick in global alcohol consumption is estimated to drive the alcohol packaging market 2020. The packaging & transport industry reports are produced by Market Research Future, which highlights market options for expansion. A 4.2% CAGR is observed for the market in the forecast period.
As alcohol consumption has become more widely accepted in a range of countries and societies, the rising alcohol demand is bound to benefit the alcohol packaging market. Moreover, innovation in the packaging materials used and designs are estimated to encourage the alcohol packaging market in the future.
Segmental Analysis
The segmental study of the alcohol packaging market is segmented by packaging, material, region, and application. Based on the materials, the alcohol packaging market has been segmented into plastic, glass, metal, and paper & paperboard. Based on the region, the alcohol packaging market is segmented into North America, Europe, Asia-Pacific, and the rest of the regions. Based on the packaging, the alcohol packaging market has been divided into primary packaging and secondary packaging. On the basis of the applications, the alcohol packaging market has been segmented into wine & spirits, beer, and others.
Detailed Regional Analysis
The regional review of the alcohol packaging market includes regions North America, Europe, Asia-Pacific, and the rest of the regions. North America is expected to grow at the highest CAGR during the forecast period. It is estimated to be followed by the European and Asia-Pacific regions. The high living standards and soaring consumption of quality alcohol beverages are estimated to drive the augmentation of the alcohol packaging market in the North American region. The European regional market is the second biggest market for alcohol packaging. The mounting use of alcohol, together with a towering purchasing power of the consumers, is spurring the impending demand for the alcohol packaging market. The regional markets of Asia-Pacific, the Middle East, and Africa are projected to extensively add to the alcohol packaging market for the duration of the forecast period chiefly due to shifting lifestyle trends and rising intake of alcohol.
Competitive Analysis
The establishment of robust distribution channels is estimated to define the development of the alcohol packaging market trends in the future. The investment in robotic elements in the supply chain is estimated to be seen in the future to reduce the impact of the human capital on the long term market expansion. The state of the market is extremely indecisive due to the effect of the macro factors operating in the global economy. The stress on enhancing the production potential and upgradation of the workforce are the top priorities to reinvigorate the development potential of the market in the coming period. The road to the resurgence of the market is estimated to be extensive and arduous due to the degree of the setbacks it has suffered. The prospects for growth in the market have to be carefully sought out and examined to ensure that they will ensure the favorable development of the market in the coming period. The competitors present in the market are recalibrating their market share to open up new areas of development in the market.
The top companies in the alcohol packaging market are Fiberon, LLC (USA), Crown Holdings, Inc. (US), Gerresheimer AG (Germany), Ardagh Group S.A. (Republic of Ireland), Owens Illinois Inc. (US), Berry Global, Inc. (US), Nampak Ltd (South Africa), Ball Corporation (US), Stora Enso Oyj (Finland), Vidrala S.A. (Spain) and among others.
Industry Updates:
Jan 2020 The alcohol advertising supervisory body has cautioned brands to actively monitor their packaging and past social media posts following a high number of violations in the final quarter of 2019. Most of the violations were connected to social media marketing, with packaging that may influence minors and which could be mixed up with soft drinks were among the complaints maintained.
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