The global beverage packaging market is estimated to secure a valuation of USD 142.3 billion in 2024. The industry is anticipated to reach a value of USD 194.3 billion by 2034. Sales are projected to rise at a CAGR of 3.2% over the forecast period. The revenue generated by beverage packaging in 2023 was USD 138.6 billion. The industry is anticipated to exhibit a Y-o-Y growth of 2.7% in 2024.
Bottles among product types is the most prominently used format for beverage packaging. It is anticipated to hold almost 70% of market share through 2034. The convenience, durability, and versatility of bottles make them the most used format in the beverage industry.
Bottles are easy to carry, and user-friendly which makes them the perfect choice for on-the-go consumption. Glass bottles are most used in the beverage industry especially for alcoholic and carbonated products because of their non-reactive and preservation properties for premium products.
Global Beverage Packaging Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 138.6 billion |
| Estimated Size, 2024 | USD 142.3 billion |
| Projected Size, 2034 | USD 194.3 billion |
| Value-based CAGR (2024 to 2034) | 3.2% |
Beverage packaging manufactured from plastic significantly gains popularity due to its inexpensive, lightweight, and durable nature. As a result, the plastic segment is projected to create a USD 16.8 billion incremental dollar opportunity during the assessment years.
The material is flexible and allows it to be molded into unique shapes for creating attractive packaging bottles. Bottles made from plastic are shatter resistant and strong which provides safety during transportation and handling.
Non-alcoholic beverages are estimated to record a CAGR of 2.6% reaching a valuation of USD 102.3 billion in revenue by 2034 end. The escalating demand for carbonated drinks, bottled water, juice, etc. by consumers is supplementing the demand for non-alcoholic beverages.
Carbonated drinks are one of the top contributors to nonalcoholic beverage packaging. The blooming trend of flavoured water, low-calorie beverages and other health and wellness drinks will increase the demand for beverage packaging.
Advanced decorative techniques and digital printing have gained prominence in beverage packaging, enabling brands to effectively protect their products and communicate their brand identity.
Beverage brands diversify their product offerings to cater to a broad consumer base, with packaging design playing a pivotal role in influencing consumer choices. Efficient packaging systems are essential for the beverage industry, ensuring product protection, quality preservation, and reduced risks.
The beverage packaging industry is set to experience moderate growth during the forecast period. It is projected to create an incremental opportunity of USD 55.7 billion and is predicted to rise 1.4 times the current market value through 2034.
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The above table presents the expected CAGR for the global beverage packaging market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the year from 2023 to 2033, the business is predicted to surge at a CAGR of 3.3%, followed by a slightly lower growth rate of 2.8% in the second half (H2) of the same year.
| Particular | Value CAGR |
|---|---|
| H1 | 3.3% (2023 to 2033) |
| H2 | 2.8% (2023 to 2033) |
| H1 | 2.9% (2024 to 2034) |
| H2 | 3.1% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase slightly to 2.9% in the first half and remain relatively moderate at 3.1% in the second half. In the first half (H1) the market witnessed a decrease of 40 BPS while in the second half (H2), the market witnessed an increase of 30 BPS.
Increasing Preference for Convenience and On-the-go Beverage Consumption
Beverage packaging offering benefits including lightweight, easy to carry, ease in opening and pouring, and quick resealing ability is in high demand at the global level. With changing lifestyles and schedules, consumers have a preference for convenience and on-the-go beverages. For example, easy-to-open and single-use cans let people enjoy their drinks with minimum effort and easy disposal.
Beverage packaging solutions like cans, single-use bottles and tetra packs are the optimum methods for serving on-the-go consumption preferences. For instance, Reliance has launched a new collection of canned beverages named Campa with three new flavours in India. Consumers' preference for on-the-go beverages with convenient and user-friendly packaging upscale the market.
Growing Adoption of Attractive and Premium Packaging Solutions
Premium and attractive beverage packaging plays a crucial role in brand differentiation. Packaging solutions with attractive colours, designs, embossing labels, holographs, AI-powered packaging, etc. create a sense of luxury and attract customers, which leads to increased sales.
Attractive packaging leads to enhanced customer interaction through features like personalized messages or promotions. This creates a more engaging and immersive product experience, strengthening brand-consumer relationships in the competitive packaging market.
For instance, Canada-based Flow Alkaline Spring Waters has announced its advanced sustainable packaging and new brand platform to enhance its presence within the premium water category.
Stringent Environmental Rules and Regulations May Hamper the Market Growth
The beverage packaging industry is subject to several regulations regarding the material used in packaging. The implementation of stringent policies for the use of single-use plastic and recycled material impacting nature hamper the market demand.
Since most of the beverage packaging is still made from the plastic ban on single-used plastic has obstructed the market. The use of recycled plastic is being prompted by the authorities across regions. This sustainability issue has further pushed the use of recyclable materials like glass and plastic.
Principal Consultant
The global beverage packaging industry recorded a CAGR of 1.6% during the historical period between 2019 and 2023. The growth of beverage packaging industry was positive as it reached a value of USD 138.6 billion in 2023 from USD 129.9 billion in 2019.
The beverage packaging industry is driven by high consumer demand for lightweight, convenient, and sustainable packaging solutions. In the beverage industry, effective and efficient packaging is crucial as it helps in protecting the product during transportation, distribution, handling, primary and secondary packaging keeping the taste, freshness, quality, and appearance of the product intact.
Beverage packaging is used in cans, liquid cartons, and bottles, among others. These solutions are used in alcohol beverage packaging and non-alcoholic beverage packaging.
Materials such as glass, plastic, paper/paperboard, and metal are used for beverage packaging solutions. Consumers are increasingly focused on sustainable products. Thus, beverage packaging being renewable and recycled is of utmost priority. Hence the beverage packaging manufacturers are focused on evolving their packaging to reduce its environmental impact.
Beverage giant Coca-Cola Company is focused on increasing recycling rates and has increased the use of recycled plastic (rPET), which has a smaller carbon footprint than single-use plastic. The increasing consumption of alcoholic and non-alcoholic drinks and the growing popularity of beverage consumption and the growing adoption of on-the-go lifestyle among consumers will also augment the demand for packaged beverages.
The growing trend of replacing single use plastic for drinking water with sustainable alternative and recycling facilities will enhance the growth of bioplastics and PET bottle packaging in market. The rapid urbanization, changing consumer preference, a boom in e-commerce and online beverage ordering, growing upper middle-class population with increasing purchasing capacity will contribute towards high demand for alcoholic beverage consumption.
The rising demand of health-conscious and wellness among consumers gives a boost to healthy branded packaged drinks, a noticeable trend towards healthier production-consumption, the boom in the mall and retail culture, availability of branded juices and health drinks, the influence of globalization on the food and beverage industry will propel the growth of non-alcoholic beverage consumption in market.
Tier 1 companies comprise market leaders with a market revenue of above USD 5 billion capturing a significant market share of 25% to 35% in the global market. These market leaders are characterized by high production capacity and a wide product portfolio. These players are distinguished by their extensive expertise in manufacturing across multiple products across different applications and a broad geographical reach, underpinned by a robust consumer base.
They provide a wide range of products utilizing the latest technology and meeting the regulatory standards providing the highest quality. Prominent companies within Tier 1 encompass Ball Corporation, Tetra Pak, Crown Holdings, Inc., Ardagh Group S.A., and Owens-Illinois, Inc.
Tier 2 companies include mid-size players with revenue of USD 1 to 5 billion having presence in specific regions and highly influencing the regional market. These are characterized by a limited international presence and well-maintained market knowledge.
These market players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach. Prominent companies in tier 2 include Verallia, Amcor Plc, Can-Pack SA, Gerresheimer AG, Ball Corporation, Crown Holdings, Inc., Silgan Containers LLC, Berry Global, Inc., and Toyo Seikan Group Holdings, Ltd.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche markets having revenue below USD 1 billion. These companies are notably oriented towards fulfilling local market demands and are consequently classified within the tier 3 share segment.
They are small-scale players and have very limited geographical reach. Tier 3, within this context, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
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The section below covers the industry analysis of the beverage packaging market for different countries. Demand analysis on key countries in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided.
In Europe, Germany is anticipated to register a moderate growth at 0.9% with a value share of more than 22% through 2034. In South Asia Pacific, India is an emerging country in beverage packaging projected to capture more than 60% of value share with a growth rate of 6.6% by 2034 end.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| United States | 2.5% |
| Germany | 0.9% |
| United Kingdom | 2% |
| Brazil | 1.7% |
| India | 6.6% |
| China | 5.5% |
| Japan | 1.8% |
| KSA | 4.9% |
The USA is anticipated to hold 78% of the value share in North America in 2024 expanding at a 2.5% growth rate till the year 2034. According to the American Beverage Association, American beverage companies are working together to make 100% recycled beverage plastic bottles and increase the PET materials in plastic bottles by taking initiatives including The Recycling Partnership, Closed Loop Partners and World Wildlife Fund.
American beverage companies such as Coca-Cola, PepsiCo, and Keurig Dr Pepper are working hard to ensure that every beverage plastic bottle including a cap is 100% recycled and is remade into new bottles.
USA consumers are concerned about sustainability and are willing to pay more for beverages from socially responsible companies. The consumer’s preference has shifted toward healthier, clean-label beverages, naturally sweeter, and beverages with immunity-boosting ingredients.
The convergence of the consumer for convenience, on-the-go drink solutions, low-sugar drink options, and better-for-you ingredients options in the beverages will bolster the demand for non-alcoholic healthy drinks in the USA The surging demand for bioplastics and sustainable packaging solutions is escalating the growth of bio-based alternatives and reducing the consumption of petroleum-based products in the country.
The non-alcoholic beverages market in Japan is anticipated to be worth USD 40 billion in 2023. The overall demand from the beverage industry including soft drinks, juices, water, and others is majorly packed and is anticipated to boost the beverage packaging sales in Japan. Many companies in Japan increased their production with the growing demand for soft drinks which further is expected to fuel the demand for beverage packaging.
This huge production of beverages in Japan is likely to lead in industry expansion through 2034. The beverage packaging industry in Japan is predicted to reach USD 2.3 billion by 2034 with a CAGR of 1.8% during the forecast period.
India is anticipated to account for nearly USD 7.8 billion in sales of beverage packaging in the South Asia region in 2024 and capture almost 70% share by 2034. The demand for beverage packaging in India is majorly generated and driven by the rising consumption of a variety of carbonated and non-carbonated drinks, tea, milk, juices, and other health drinks.
Along with this, the heavy demand for dairy and milk products in India has raised the demand for beverage packaging in the country. The consistently rising milk production in India along with frequent demand for milk and dairy products is bolstering the sales of the beverage packaging in the country.
The section contains information about the leading segments in the industry. 251 to 500 ml capacity bottles are anticipated to gain traction during the upcoming period growing at a CAGR of 3.6% through 2034. Beverage cans are projected to showcase significant growth at 3.7% CAGR through 2034 driven by rising eco-friendly packaging solutions. Alcoholic drinks are projected to flourish in the upcoming decade showcasing a growth rate of 3.9% by 2034 end.
| Capacity | 251 to 500 ml |
|---|---|
| Value Share (2034) | 27.1% |
251 to 500 ml capacity of beverage packaging is growing at a significant rate. It is anticipated to hold more than 25% of the market share expanding at 3.6% through 2034.
Consumers are more inclined towards lower-capacity packaging because of single-serve beverage demand and convenience. Consumers are becoming health conscious which leads them, to buy lower-sized beverages. The demand for low-capacity bottles is anticipated further increase in the upcoming period driven changing preferences of consumers.
| Product Type | Beverage Cans |
|---|---|
| Value Share (2034) | 23.7% |
Beverage cans are prominently made from steel and aluminium which is indefinitely recyclable keeping all the physical and chemical properties intact which makes them an attractive option for brands. The push by businesses and consumers towards the adoption of circular materials is impacting the beverage cans demand.
Metal cans are also aesthetically pleasing which provides a unique brand identity with innovative designs and prints. Rising demand for well-preserved ready-to-drink beverages is supplementing the sales of beverage cans in the upcoming period. Beverage cans are projected to reach USD 45.9 billion expanding at 3.7% CAGR during the assessment period.
| Application | Alcoholic Beverages |
|---|---|
| Value Share (2034) | 47.4% |
Rising demand for premium alcoholic beverages and rising demand for craft beer, spirits, wines, etc. are increasing the demand for beverage packaging. Rising urbanization in specific regions and upgraded lifestyles are boosting the consumption of alcoholic drinks.
Flavored and infused beverages with alcohol are gaining popularity among consumers. Alcoholic drinks are projected to generate a USD 31 billion incremental dollar opportunity expanding at 3.9% CAGR during the assessment period.
Several prominent players in the beverage packaging market are significantly investing in innovation, research, and development to discover new applications and enhance their offerings. Leveraging technology, these companies prioritize safety, product quality, and customer satisfaction to expand their customer base.
Key manufacturers of beverage packaging are focusing on developing recycled material packaging and developing metal packaging solutions to meet sustainability demand. They are adopting a merger & acquisition strategy to expand their resources and are developing new products to meet customer needs.
Recent Industry Developments in Beverage Packaging Market
In terms of material, the industry is divided into up to glass, plastic, metal, and paper/paperboard. Plastic is further divided as polyethylene terephthalate (PET), polypropylene (PP), high-density polyethylene (HDPE), and low-density polyethylene (LDPE). Metal is further classified as aluminium and steel.
In terms of product type, the industry is segregated into liquid cartons, beverage cans, bottles, and others (pouch, jars, kegs, etc.). Beverage cans are further classified as aluminium cans, and steel cans. Bottles are divide into glass bottles, plastic bottles, and aluminium bottles.
In terms of capacity, the industry is segregated into up to 250 ml, 251 to 500 ml, 501 to 1000 ml, and above 1000 ml.
The industry is classified by application as alcoholic drinks, and non-alcoholic drinks. Alcoholic drinks are classified as beer, wine, spirits, and other alcoholic beverages. Non-alcoholic drinks are subdivided as fruit juices, carbonated drinks/soda, RTD, milk products.
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East and Africa (MEA), have been covered in the report.
The global beverage packaging industry is projected to witness CAGR of 3.2% between 2024 and 2034.
The global beverage packaging industry stood at USD 138.6 billion in 2023.
The global beverage packaging industry is anticipated to reach USD 194.3 billion by 2034 end.
South Asia and Pacific is set to record the highest CAGR of 5.4% in the assessment period.
Ball Corporation, Tetra Pak, Crown Holdings, Inc., and Owens-Illinois, Inc.
1. Executive Summary
2. Industry Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market Trends and Success Factors
4. Market Background
4.1. Macro-economic and Industry Outlook
4.2. Market Dynamics
4.3. Value Chain Analysis
4.4. List of Key Market Participants (Manufacturers/Channel Partners)
4.5. Analysis of Key Industry Matrices
4.6. Industry Development Roadmap
5. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034
5.1. Historical Market Volume Analysis
5.2. Future Market Volume Projections
6. Pricing Analysis
7. Global Market Value (US$) Analysis 2019 to 2023 and Forecast 2024 to 2034
7.1. Historical Sales Analysis
7.2. Future Market Size and Growth Projections
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, Product Type
8.1. Liquid Cartons
8.2. Beverage Cans
8.2.1. Aluminium Cans
8.2.2. Steel Cans
8.3. Bottles
8.3.1. Glass Bottles
8.3.2. Plastic Bottles
8.3.3. Aluminium Bottles
8.4. Others (Pouch, Jars, Kegs, etc.)
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Material
9.1. Glass
9.2. Plastic
9.2.1. Polyethylene Terephthalate (PET)
9.2.2. Polypropylene (PP)
9.2.3. High-density Polyethylene (HDPE)
9.2.4. Low-density Polyethylene (LDPE)
9.3. Metal
9.3.1. Aluminium
9.3.2. Steel
9.4. Paper/Paperboard
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Capacity
10.1. Up to 250 ml
10.2. 251 to 500 ml
10.3. 501 to 1000 ml
10.4. Above 1000 ml
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Application
11.1. Alcoholic Drinks
11.1.1. Beer
11.1.2. Wine
11.1.3. Spirits
11.1.4. Other Alcoholic Beverages
11.2. Non-Alcoholic Drinks
11.2.1. Fruit Juices
11.2.2. Carbonated Drinks/Soda
11.2.3. RTD Beverages
11.2.4. Water
11.2.5. Milk Products
12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
12.1. North America
12.2. Latin America
12.3. Western Europe
12.4. East Asia
12.5. South Asia & Pacific and Pacific
12.6. Middle East and Africa (MEA)
12.7. Eastern Europe
13. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
14. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
15. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
17. South Asia & Pacific & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
18. Middle East and Africa (MEA) Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
19. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
20. Sales Analysis 2024 & 2034 by Key Market Segments for 30 Countries
21. Competition Outlook including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
22. Company Profile
22.1. Ardagh Group S.A.
22.2. Owens-Illinois, Inc.
22.3. Gerresheimer AG
22.4. Toyo Seikan Group Holdings, Ltd.
22.5. Saverglass SAS
22.6. Vidrala S.A.
22.7. Vitro, S.A.B. de C.V.
22.8. Verallia
22.9. Stoelzle Glass Group
22.10. Ball Corporation
22.11. Crown Holdings, Inc.
22.12. Nampak Ltd.
22.13. Silgan Containers LLC
22.14. Berry Global, Inc.
22.15. CPMC Holdings Ltd
22.16. Kian Joo Can Factory Berhad
22.17. Can-Pack SA
22.18. Amcor Plc
22.19. Tetra Pak
22.20. SIG Combibloc Group Ltd.
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Beverage Packaging Market
