PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550691
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550691
The beverage packaging market is estimated to be valued at USD 144.42 in 2024 and is expected to reach USD 192.62 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 144.42 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 4.20% | 2031 Value Projection: | US$ 192.62 Bn |
Beverage packaging is a growing industry worldwide. With rising health consciousness and changing lifestyles, the beverage packaging market is evolving rapidly. Beverages like bottled water, carbonated soft drinks, juices, dairy drinks, alcoholic beverages, and others require effective packaging for storage, distribution, and sale. Packaging plays a crucial role in product branding, safety, shelf life, and overall customer experience. The global beverage packaging market is diversifying with new materials, formats, and technologies catering to dynamic consumer demands and trends. Sustainable and eco-friendly packaging solutions are gaining popularity as environmental regulations get more stringent. The market is driven by rising beverage consumption, urbanization, and growth in the foodservice industry.
Growth in the global beverage industry is a key driver for the beverage packaging market. As urban populations expand rapidly and disposable incomes rise across developing regions, the demand for packaged beverages is surging. Beverages are increasingly being consumed on-the-go, necessitating portable and resealable packaging formats. Rising health awareness is boosting low/no-calorie beverage sales and driving the demand for lighter weight packaging materials to reduce transportation costs and carbon footprint. However, stringent regulations around plastics usage and volatility in raw material prices pose challenges to market players. Opportunity lies in expanding product portfolio to cater to premium and craft beverages gaining popularity. Innovation in recycling and reuse technologies can help overcome restraints to market growth.
Detailed Segmentation-