Increase in alcohol consumption is one of the key factors driving growth, whereas use of packaging as a branding and promotion activity is influencing companies to experiment with innovative packaging.
Albany, NY -- (SBWIRE) -- 03/19/2018 -- A research report titled "Alcohol Packaging Market - Global Industry Analysis and Forecast 2017 – 2025" has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the report, the global alcohol packaging market is projected to grow at 4.7% CAGR during the assessment period. The demand for alcohol packaging is growing on account of a range of factors.
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The report presents a comprehensive overview on the global alcohol packaging market, highlighting the key trends that are impacting demand. Increase in alcohol consumption is one of the key factors driving growth, whereas use of packaging as a branding and promotion activity is influencing companies to experiment with innovative packaging. The innovation is especially pronounced in the beer segment as it is popular among millennials and young drinkers.
Although the outlook on the global market is positive, impediments in terms of blanket bans can hurt the growth during the assessment period. Alcohol consumption is looked down upon in many conservative cultures, and many populous countries in Asia Pacific and Middle East have strong anti-alcohol laws in place.
The alcohol packaging market can be broadly segmented into primary and secondary packaging, with the former accounting for nearly 80% revenue share of the market. The key primary types of packaging include bottles, growlers, and pouches. The secondary packaging type includes folding cartons, and multipacks. The report projects the secondary packaging type to grow at over 5.3% CAGR during the assessment period.
By application, beer packaging continues to be a lucrative segment, and demand is driven by surge in the number of beer drinkers around the globe. Beer's popularity among the young is likely to fuel its demand during the assessment period, which in turn is projected to increase packaging opportunities. In addition to beer, demand for effective packaging in spirits is likely to remain significant during the assessment period.
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Region-wise, Asia Pacific is likely to remain an attractive market for alcohol packaging companies. Although alcohol consumption in many Asia Pacific countries is still moderate, the high population in the region makes it an attractive market in terms of volume consumption. The report projects Asia Pacific alcohol packaging market to grow at over 5% through 2025. In addition to Asia Pacific, the traditional markets of North America and Europe are likely to create significant growth opportunities for manufacturers.
The report also profiles some of the leading players in the market. According to the report, some of the key players operating in the market include Crown Holdings, Inc., WestRock LLC, Amcor Limited, Ball Corporation, Berry Global, Inc., Stora Enso Oyj, Smurfit Kappa Group, Ardagh Group S.A., Nampak Ltd., Owens Illinois Inc., DS Smith Plc, Beatson Clark Ltd., Gerresheimer AG, Vidrala S.A., Intrapac International Corporation, and BA Glass Germany GmbH
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