Global alcohol packaging market expected to reach USD 54.7 billion by the end of 2024, growing at a CAGR of around 4.5% between 2018 and 2024. The rapid pace of urbanization in different parts of the world is expected to drive the alcohol packaging market growth over the forecast period.

Sarasota, FL -- (SBWire) -- 07/31/2018 --Zion Market Research has published a new report titled "Alcohol Packaging Market by Packaging Type (Primary Packaging [Bottles, Cans, Bag-in-box, Liquid brick carton, Growlers, and Pouches] and Secondary Packaging [Boxes, Folding cartons, and Others]), by Material Type (Glass, Metal, Plastic, and Paper & paperboard), and by Application (Beer, Wine, Spirits, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024". According to the report, global alcohol packaging market was valued at approximately USD 40.2 billion in 2017 and is expected to generate revenue of around USD 54.7 billion by the end of 2024, growing at a CAGR of around 4.5% between 2018 and 2024.

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The rapid pace of urbanization in different parts of the world is expected to drive the alcohol packaging market growth over the forecast period. Rising disposable income among the urban population has made a significant contribution to upsurge profit for the alcohol packaging industry. Moreover, changing lifestyles of people and growing consumerism, the introduction of unconventional packaging methods, and development of enhanced materials is expected to further drive industry growth over the forecast period. Increasing consumption of alcohol among youth population is the major driving factor for alcohol packaging market growth. For instance, drinking culture and special activities such as "Oktoberfest" is expected to spur demand for alcoholic drinks.

Branding and marketing strategies are influencing various alcohol manufacturers to invest in the packaging of alcohol. Packaging format has become identical with the identification of brand in the alcohol industry, and it is expected to increase expenses on alcohol packaging in the future years. Development and design of sustainable packaging solutions are expected to boost alcohol packaging market growth in the coming years.

Based on packaging type, the market is bifurcated into the secondary and primary packaging. Primary packaging is further divided into the liquid brick carton, bottles, growlers, pouches, cans, and bag-in-box. Secondary packaging is further divided into boxes, folding cartons, and others. Several pouch formats and new fixture technologies are expected to increase the demand for primary packaging pouches from various end-use industries.

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Based on material type, market is segmented as plastic, glass, metal, and paper & paperboard. Glass packaging products are safe and healthy for a long period as glass is non-reactive with consumable and non-consumable products. Glass is known for reuse and recyclability, it is mostly used material for packaging of non-alcoholic and alcoholic beverages, and also pharmaceutical products. Glass consists of properties such as chemical inertness, sterility, moldable, waterproof, and shapeable, which makes it appropriate for packaging various products.

Based on application, the alcohol packaging market is segmented as wine, beer spirits, and others. Beer segment is expected to witness significant growth over the forecast period. Increasing usage of glass material in the beer bottle packaging coupled with high disposable income, higher influence among youth population, and ease of availability is expected to boost sales of beer and will positively impact industry growth over the forecast period.

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are regional segments of global alcohol packaging market. The Asia Pacific contributed a substantial revenue share in 2017. The growth is attributed due to increase in consumer expenditure for recreational activities, rising disposable incomes, growing demand for super-premium or premium products. Europe also held a significant revenue share in 2017. The growth is attributed to the presence of major industry players in the region.

Some of the key players operating in alcohol packaging market include WestRock LLC, Amcor Limited, Stora Enso Oyj, Ball Corporation, Smurfit Kappa Group, Ardagh Group S.A., Owens Illinois Inc., Crown Holdings, Inc., Berry Global, Inc., and DS Smith Plc.

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This report segments the global alcohol packaging market as follows:

Global Alcohol Packaging Market: Packaging Type Segment Analysis

Primary Packaging
Bottles
Cans
Bag-in-box
Liquid brick carton
Growlers
Pouches
Secondary Packaging
Boxes
Folding Cartons
Others