Alcoholic Beverage Packaging Market Outlook, Insights, and Size: 2024-2033

Spread the love

Overview and Scope

Alcoholic beverage packaging refers to materials and designs to contain and transport alcoholic drinks. The outside packaging for alcoholic beverages has the primary role of holding and protecting the liquid inside.

Sizing and Forecast

The alcoholic beverage packaging market size has grown strongly in recent years. It will grow from $72.02 billion in 2023 to $77.42 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to consumer trends, regulatory compliance, brand differentiation, supply chain efficiency, globalization of markets..

The alcoholic beverage packaging market size is expected to see strong growth in the next few years. It will grow to $99.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to sustainable packaging, premiumization, e-commerce growth, health and wellness trends, emerging markets.. Major trends in the forecast period include lightweight and portable packaging, focus on tamper-evident and security features, increasing popularity of glass alternatives, collaborations with artists and designers, adoption of eco-friendly materials..

To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/alcoholic-beverage-packaging-global-market-report

Segmentation & Regional Insights

The alcoholic beverage packaging market covered in this report is segmented –

1) By Product: Cans, Bottles, Other Products

2) By Material: Glass, Metal, Plastic, Other Materials

3) By Application: Beer, Wine, Spirits, Other Applications

North America was the largest region in the alcoholic beverage packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the alcoholic beverages packaging market report during the forecast period. The regions covered in the alcoholic beverage packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9963&type=smp

Major Driver Impacting Market Growth

The rising alcoholic beverage consumption is expected to propel the growth of the alcoholic beverage packaging market going forward. The rising alcoholic beverage consumption has resulted from changes in social and cultural norms, increased availability of alcoholic drinks, changes in marketing strategies, and changes in economic and social conditions. As the demand for alcoholic beverages is increasing globally, the need for efficient and innovative packaging solutions is also rising to meet consumer demands and regulatory requirements. For instance, in February 2023, according to an article published by PennState Extension, a US-based modern education organization, alcohol consumption in adults aged 18 and above has reached 63% in 2022 as compared to 60% in 2021. Also, in 2022, the alcohol consumption rate reaches up to 65% for adults with a legal age of drinking 21 years. Therefore, the rising alcoholic beverages consumption is driving the growth of the alcoholic beverage packaging market.

Key Industry Players

Major companies operating in alcoholic beverage packaging are developing innovative products such as biodegradable packaging products to drive the revenues in the market. The new packaging is not only biodegradable but also uses 90% less water than traditional packaging. For instance, in March 2021, Corona, a Belgium-based company, launched biodegradable packaging made from barley by-products. Corona rolled out biodegradable six-pack holders made from barley waste created in the beer-making process, which is sustainable packaging and environmentally friendly. The barley straw is a byproduct of the beer-making process, and Corona pulps it to make the six-pack holder. The pulp is then combined with recycled wood fibers to create a durable and biodegradable paper sleeve for their six-packs.

The alcoholic beverage packaging market report table of contents includes: