Study: Global beverage packaging market to grow CAGR of 4.1% by 2027

The research shows plastic to be the fastest growing material segment in the global beverage packaging market.

The global beverage packaging market is expected to reach a market size of over 128,000 million by the end of 2027, growing at a value CAGR of 4.1% during the forecast period of 2017-2027, according to a new research report by Future Market Insights, Valley Cottage, N.Y.

The report, “Beverage Packaging Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017-2027),” show PET plastic bottles to grow at a significant rate during the forecast period and fairly contributing to the growth of global beverage packaging industry. Due to high demand for PET bottles, plastic packaging is expected to lead in the global beverage packaging market.

On a broader basis, rigid plastics and flexible packaging are gaining more prominence as compared to the other packaging types. Manufacturers are observed to be highly inclined toward automated production of packaging solutions to increase the production capacity.

On the basis of material type, glass leads the global beverage packaging market on the market size with an expected market size of over $53,000 million by the end of 2027. However, the forecast suggests that the demand for plastic bottles will increase during the forecast period. This makes plastic the fastest growing material segment in the global beverage packaging market, with a 5.1% CAGR expected during the forecast period.

Based on application, non-alcoholic segment leads the market with an expected market size of over $72,000 million by the end of 2027, growing at a CAGR of 4.9% during the forecast period.

Based on product type, liquid cartons segment is expected to be the most attractive packaging type in the market. Plastic bottles are also expected to witness high demand during the forecast period. Liquid cartons segment is projected to grow at a value CAGR above 4% during the forecast period.

On the basis of region, APEJ will be the most attractive region with the highest demand. It is expected to reach a market size of over $51,000 million by the end of 2027, growing at a value CAGR of 5.7% during the forecast period.