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Global Beverage Cartons Market Size was valued at USD 17.6 Billion in 2022. The Beverage Cartons market industry is projected to grow from USD 18.6 Billion in 2023 to USD 25.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.70% during the forecast period (2023 - 2032). Demand for environmentally conscious products and sustainable goods is rising, and there is also an increase in demand for packaging that is convenient, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The growing global population and increased disposable income in developing countries are driving an increase in packaged beverage sales. According to the Brewers Association, the worldwide beer market will be valued USD 94.1 billion in 2020, compared to USD 22.2 billion for the global craft beer market. The average yearly alcohol consumption for people aged 15 and over was 8.6 liters in 2010 and 8.8 liters in 2016, according to the WHO. The rising urban population and changing lifestyles have led to a growth in the overall consumption of packaged beverages in developing countries like India. According to figures released by the World Bank, approximately 30.58% of India's total population resided in urban regions in 2009, and this percentage increased to 34.47% in 2019. A study that was published in the Lancet journal found that between 2010 and 2017, alcohol consumption in India increased from 4.3 to 5.9 litres per person. It is projected that the large population in developing countries like China and India will drive the market for beverage packaging.
Youths' rising health consciousness has increased the market for packaged juices, energy drinks, and health drinks, which has significant sales growth potential for producers. As a result of increased tourism, easy access to bottled water, and preferences for a healthy lifestyle on the go, the demand for flavoured water has also increased. This includes flavourings derived from natural sources like fruits, basil, lemon, mint, orange, and hibiscus.
Beverage packaging meets all biological, chemical, and physical requirements of the beverage while also providing protection, tamper resistance, and other benefits. Additionally, beverage packaging encourages nutrition and guarantees effective distribution along the entire value chain. For the past 10 years, the size of beverage packaging has been a contentious subject due to a variety of factors, including growing health concerns. An imbalanced level of sugar in the blood results from excessive consumption of aerated beverages and other foods. It worsens the liver's ability to metabolize ingested sugar, which raises the risk of Type 2 diabetes. Beverage producers are under intense pressure to reduce the size of their container in order to provide consumers more choices and give them more control over how much they drink. Additionally, a number of businesses have pledged to reduce the amount of calories in their products, which calls for smaller packaging.
Due to clients' busy lifestyles and subsequent reliance on packaged beverages, the sales of beverage packaging products, such as plastic and paper bottles and containers, are also rising. Plastic products profit from this trend by seeing an increase in sales due to its better barrier properties, practical format, high-quality printability, and responsible use of material resources. Thus, driving the Beverage Cartons market revenue.
The global Beverage Cartons market segmentation, based on Application, includes fruit & vegetable juices, dairy products, and others. The dairy products segment accounted for largest market share in 2022. Due to the growing popularity of dairy-based beverages such milkshakes, UHT milk, fresh milk, packaged coffees, and nutritious drinks, the category now accounts for the largest market share.
The others segment, which mostly comprises of still drinks, alcoholic beverages, and sparkling waters, is predicted to increase at the fastest rate in the future. The rising demand for these beverages among young consumers is to blame for this. Beverage producers regularly collaborate with carton manufacturers to take advantage of potential growth opportunities in this sector. The restrictions on single-use plastics have also slowed the growth of bottled water, prompting mineral water manufacturers to adapt to boxed packaging. This is expected to encourage the growth of the other category as well.
The global Beverage Cartons market segmentation, based on Type, includes refrigerated cartons and shelf-stable cartons. The shelf-stable cartons segment accounted for the largest market share in 2022. Many drinks, such as milkshakes and fruit juices, are susceptible to microbial growth at high temperatures because of the formation of a sanitary environment. Because of this, beverage manufacturers are converting to chilled cartons that can be maintained at a certain temperature. The segment's growth in the global market is aided by the fact that these cartons are easier to recycle than shelf-stable cartons.
Because of the growing demand for packaging that may increase the shelf life of products, the market for shelf-stable beverage cartons is predicted to expand more swiftly. Because these containers don't require refrigeration before opening, consumers may transport pricey goods farther with ease.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The Asia Pacific Beverage Cartons market dominated the global market in 2022 (45.80%). The growing nations of the area, including China, India, Taiwan, Indonesia, Malaysia, and Thailand, are experiencing rapid economic growth, which will serve as a solid base for the hegemony. As urbanization and disposable income increase, it is predicted that beverage consumption would increase, extending the use of beverage packaging like cartons. Moreover, In the Asia-Pacific region, the Indian Beverage Cartons market had the quickest rate of growth while China's Beverage Cartons market had the greatest market share.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The North America Beverage Cartons Market is expected to register fastest growth from 2023 to 2032. North America is one of the main markets for processed and packaged beverages. According to a survey that was reported in The Hill, an average American drinks 8.7 liters of alcohol annually. According to a Forbes article, the U.S. spirits industry expanded by 5.3% in 2019 and achieved record revenues of USD 29 billion. Non-alcoholic beverage consumption in the region has also grown quickly; in 2019, it exceeded 118 billion liters, and by 2022, it's expected to surpass 120 billion liters. Further, In the North American area, the U.S. Beverage Cartons market had the biggest market share, while the Canada Beverage Cartons market had the quickest rate of expansion.
Europe Beverage Cartons market accounts for the significant market share. The younger generation is starting to prefer lower alcohol drinks with distinctive flavor profiles, which is driving up demand for low/non-alcoholic and convenient ready-to-drink (RTD) beverages in the European region. By experimenting with novel flavors and sensory experiences for the products, the younger generation is increasing demand for packaged beverages and mocktails. Further, In the European region, the German Beverage Cartons market had the biggest market share, and the U.K. Beverage Cartons market had the quickest rate of growth.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Beverage Cartons market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Beverage Cartons sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Beverage Cartons sector. Major players in the Beverage Cartons market, including Tetra Pak, Elopak, Sig Combibloc Group Ltd., Mondi Group, Westrock Company, Visy, Stora Enso, Pactiv Evergreen, IPI S.r.l., and Greatview Aseptic Packaging Co. Ltd., are attempting to increase market demand by investing in research and development operations.
Tetra Pak International SA (Tetra Pak), a branch of Tetra Laval International SA, is a provider of comprehensive solutions for processing and packaging. The company offers services for the distribution of foods such dairy, ice cream, dry goods, cheese, fruits, vegetables, juices, and nectars. It offers a wide range of processing instruments, including evaporators, heat exchangers, aseptic processing systems, separators, homogenizers, and flow equipment. Conveyors, cardboard packers, and film wraps are just a few of the distribution equipment types it manufactures and sells. Tools, services, engineering, installation, and design are all part of Tetra Pak's extensive machine line-up. In November 2022, Tetra Pak and Uniboard reached an agreement for the development of a cardboard recycling facility for used beverage cartons (UBC) that will cost USD 2.5 million. By 2023, a facility capable of recycling 8,000 tonnes of UBC annually will have been built using the funds.
Ardagh Group SA (Ardagh) provides packaging solutions. It manufactures and distributes glass and metal packaging. The company manufactures metal and glass containers for the market, which includes beer, food, hard seltzers, wine, spirits, carbonated soft drinks, energy drinks, juices, and sparkling waters. The company sells two- and three-piece cans with peelable ends in a range of shapes, sizes, and visual styles as well as other tinplate and aluminum packaging products. The markets for food and drink, medications, personal care items, home goods, and industrial coatings all use these products. The company operates production facilities in several countries in the Americas, Europe, Asia, and Africa. Luxembourg serves as Ardagh's corporate headquarters. In March 2021, Ardagh Group S.A. and Bragg Live Food Products will introduce a new 16oz glass bottle for their line of apple cider vinegar beverages.
· Tetra Pak
· Elopak
· Sig Combibloc Group Ltd.
· Mondi Group
· Westrock Company
· Visy
· Stora Enso
· Pactiv Evergreen
· IPI S.r.l.
· Greatview Aseptic Packaging Co. Ltd.
May 2022: An initiative to recycle glass bottles was started by Coca-Cola UNITED and O-I Glass Inc. By 2030, Coca-Cola UNITED plans to utilize 50% recycled material in its bottles as part of their commitment to eradicating rubbish from the world. In order to make more recycled glass into new glass bottles, the bottling industry is collaborating with O-I Glass to collect more recycled glass.
May 2022: An initiative to recycle glass bottles was started by Coca-Cola UNITED and O-I Glass Inc. By 2030, Coca-Cola UNITED plans to utilize 50% recycled material in its bottles as part of their commitment to eradicating rubbish from the world. In order to make more recycled glass into new glass bottles, the bottling industry is collaborating with O-I Glass to collect more recycled glass.
· Refrigerated Cartons
· Shelf-Stable Cartons
· Fruit & Vegetable Juices
· Dairy Products
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 17.6 Billion |
|
Market Size 2023 |
USD 18.6 Billion |
|
Market Size 2032 |
USD 25.9 Billion |
|
Compound Annual Growth Rate (CAGR) |
4.70% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Application, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, the U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Tetra Pak, Elopak, Sig Combibloc Group Ltd., Mondi Group, Westrock Company, Visy, Stora Enso, Pactiv Evergreen, IPI S.r.l., and Greatview Aseptic Packaging Co. Ltd. |
|
Key Market Opportunities |
Increasing use renewable and degradable raw materials |
|
Key Market Dynamics |
The rise in demand for sustainable products and awareness regarding the environment coupled with increasing demand for convenient packaging |
The global Beverage Cartons Market was valued at USD 17.6 billion in 2022, and it is estimated to reach USD 25.9 billion by 2032.
The global market is projected to grow at a CAGR of 4.70% during the forecast period, 2023-2032.
Asia Pacific had the largest share in the global market
The key players in the market are Tetra Pak, Elopak, Sig Combibloc Group Ltd., Mondi Group, Westrock Company, Visy, Stora Enso, Pactiv Evergreen, IPI S.r.l., and Greatview Aseptic Packaging Co. Ltd.
The Shelf-Stable Cartons Type dominated the market in 2022.
The Dairy Products Application had the largest share in the global market.
Report Code :
RL6562
Published on :
Aug 2023
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