Market Trends of Alcoholic Beverage Packaging Industry
This section covers the major market trends shaping the Alcoholic Beverage Packaging Market according to our research experts:
Glass Packaging Segment to Account for a Crucial Share
- Glass is 100% recyclable without the loss of quality and sturdiness. The majority of utilized glass bottles are used for the production of new glass bottles. The demand for glass containers may likely expand, owing to its increasing importance in wine packaging and robust demand in the market.
- More than 50% of the alcohol consumed globally is in the form of wine, and OIV has projected a 17% growth in the production of wine, globally.Though the customers have started accepting wine in alternative packagings, like Bags in a Box (BiB), it is limited to bulk purchasing.
- According to the report by the Wine Institute of America, released in April 2019, almost 1 billiongallons of wine wereproduced in the United States in 2017. The United States isthe highest consumerof wine,with a 15% global share. Thus, the glass packaging segment dominates the wine packaging application.
- Additionally, the beer industry has shown steady growth over the past years. Thegrowing beer industry may possibly show significant development in the glass packaging segment. For instance,in Europe, out of the overall recycling materials, glass captured 22% share in 2017, after paper.
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Asia-Pacific Region is Expected to Dominate the Market
- The increasing consumption of beer and spirit drinks in the region has been a significant factor for the growth of the market. WHO has stated that 92% of the alcohol consumers in India prefer spirits over beer and wine. As the players are moving toward sustainable packaging products, the adoption of glass packaging for alcoholic beverages is growing in the region.
- The huge consumer base in the region, reinforced by the presence of highly populated countries, like China and India, increasing disposable incomes, and the growing acceptance of alcohol consumption in developing nations are the major factors driving the growth of the market studied.
- The study by Lancet has stated that per capita alcohol consumption in Southeast Asia and West Pacific increased by 104% and 54%, respectively, from 1990 to 2017. The Asian population represents the median age of 30.7 years, which presents huge potential opportunities for the alcoholic beverages market, thus augmenting the demand for alcoholic beverage packaging.
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