Beverage Packaging Industry Market Research Reports, Industry Analysis and Trends
Beverage packaging is the form of packaging done for beverages. As the matter being completely and majorly liquid, right and appropriate packaging for beverages becomes highly important. Companies that design and manufacture packaging products are always innovating and producing new designs for changing tastes, differentiating from their competitors and improving standards of safety of the product they are manufacturing packaging for. The way demand is growing for packaging industry to supply; it is influenced by many factors including, rising health awareness of consumers, new packaging material development, increased awareness of environmental issues, migration towards smaller and handier packaging for transportations and travel, convenience and easy to use and growing requirements for brand enhancement.
Out of all the factors that are influencing demand for more and better supply in packaging, health and environment awareness is the most important factor to drive the growth as the ageing population is one of the key consumers. Economy being the most influencing factor on packaging consumption, demand for bulk order and transportation of packaging is highly dependent on it. When the demographic factors influence, such as the high demand of packaging from Asian countries such as India and China, for the large population the packaging needs to reach out to, companies see a huge potential for expanding their market.
According to Global Industry Analysts Inc, the global market for beverage packaging is projected to reach US $118.8 billion by 2017. The global consumption trends, ageing population requiring easy-to-open features, and environmental concerns influencing the demand, packaging industries are using minimal resources for innovative and convenient packaging. Beverage packing is done in several formats, such as bottles, metal cans, paperboard and cartons, plastic containers, and pouches for variety of products from alcoholic and carbonated drinks to dairy and watery products.
Beverage Packaging Industry Current Trends
For companies that produce packaging products, it is difficult to ignore lifestyle trends that are impacting consumer purchase decisions. For most companies, trends allow to innovate, encourage positive changes and enhancements, and expansion in the market. The materials such as glass, plastic, paperboard and metal used for packaging need to have sustainability and keep the product the companies have packaged safe and secure from damage. From mineral drinking water, dairy products to much stronger and harsher things such as chemicals and liquids that can damage or get damaged due to pressures and temperatures, manufacturers need to be highly cautious when it comes to designs of packaging.
Packaging is a major aspect of differentiation in most consumable goods, as in where differentiation competition is intense then prices are low. Packaging provides marketing advantage when it comes to sales aspect; with major cost component being the packaging. For example- 48 cents out of every dollar, i.e. 48% of Coke’s product cost in from packaging. Packaging being one of the most important growth driver, where 27% consider effective packaging to be a beneficial factor in development in the market while 64% considering it to very important factor for various reasons such as healthy and hygienic benefits and globally environmental friendly.
Major Beverage Packaging Industry Players
Major players in beverage packaging industry are, Nestlé, PepsiCo, Amcor, Huhtamaki, Mondelez and Unilever.