Albany, NY -- (SBWIRE) -- 03/06/2018 -- Consumer beverage packaging market has undergone a tremendous change in the recent years with introduction of new designs and use of eco-friendly material. Convenience, recyclability, shelf-life extension and online retailing are some of the factors playing a crucial role in the changes taking place in the consumer beverage packaging. The trend of on-the-go eating and consuming beverages has led to the production of more convenient packaging with focus on ease to handle feature. With increasing caution among consumers when it comes to food, the trend of clean packaging is gaining momentum in the market. Hence, manufacturers are investing in the research and development of beverage packaging that is recyclable and product-friendly that can preserve beverage in it for a long time. Lightweight packaging is another trend gaining traction in the beverage packaging. Packaging remains a key factor differentiating beverage products. Moreover, manufacturers are also focusing on implementing advanced technology to minimize wastage of packaging materials, and speed up the production process.

A recent report collated by Transparency Market Research (TMR) projects the global market for consumer beverage packaging to witness a steady growth. The market is likely to record 5.4% CAGR, in terms of value, between the period 2017 and 2026. Over 65,000,000 tons of consumer beverage packaging are estimated to sold around the world by 2026-end.

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North America to Remain Most Lucrative Market for Consumer Beverage Packaging

North America is expected to remain the fastest expanding as well as the most lucrative market for consumer beverage packaging, in terms of value. This is mainly because of robust demand for consumer beverages in the region, along with growing penetration of automation in the beverage packaging industry. However, in terms of volume, sales in Asia-Pacific excluding Japan (APEJ) and North America are projected to register a parallel rise through 2026. APEJ will also remain a key remunerative region for the consumer beverage packaging market, mainly driven by factors such as the emergence of brewing industry, and surging demand for alcoholic beverages in countries such as India and China.

Growing concerns regarding use of plastic on the back of their carbon footprint during production, and risk related to metal particles invading the products, has led manufacturers to adopt paper & paperboard for packaging of various edible products, and beverages are no exception. Paper & paperboard will continue to lead the global consumer beverage packaging market in terms of volume as well as value. In terms of value, between plastic and metal, revenues from the latter will remain relatively larger, while sales of the former will record a comparatively higher CAGR through 2026.

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Key Research Findings from TMR's Report

In terms of value, containers (plastic containers, metal cans) will continue to be dominant in the global consumer beverage packaging market, followed by boxes and cartons

Bottled water and carbonated soft drinks are expected to remain leading applications of consumer beverage packaging, in terms of value

Competition Tracking

Through acquisition of product design-specialized enterprises, and new product launches, vendors in the global consumer beverage packaging market are constantly focusing on enhancing their product portfolio. Key players identified by the report, who actively underpin the market expansion, include Honda Motor Co., Ltd., Generac Holdings Inc., Champion Power Equipment, Inc., Yamaha Motor Co., Ltd., Wuxi Kipor Power Co. Ltd., Hyundai Motor Company, Lifan Industry (Group) Co., Ltd., Briggs & Stratton Corporation, Ryobi Limited, Toshiba Corporation, and Subaru Corporation.

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