Global report Beverage Packaging Market Report 2016–2026
The latest report from business intelligence provider Visiongain offers a comprehensive overview of the global beverage packaging market. Visiongain assesses that this market will generate revenues of $112.4 billion in 2016.
The beverage packaging market is set to grow in the next 10 years at a fairly steady rate. Global growth will remain modest due to the financial and geopolitical climate in the next decade. Commodity price decrease as well as a slowdown in the Chinese economy will have a large effect on the production worldwide. However, given the current geopolitical tensions around the world, the GDP growth will remain modest but stable for the coming years. Nevertheless, there are many factors weighing on the development of beverage packaging technologies and their growth trajectory. The growing population, economic development of emerging economies, a shift from the commodity driven economies to consumer driven economies, worldwide sustainability concerns and other factors will contribute to the development of the industry. One of the main factors is the lower crude oil prices seen in recent years which are contributing to higher profits by manufacturers of plastic packaging materials. Furthermore, the lifestyle of consumers shifting to convenience, define the trend towards a single or portion based packaging instead of the standard packaging.
One of the key trends will be the rising population, as the demand for food and beverages will be higher in the next 10 years and thus the demand for beverage packaging will grow commensurately. The location of this population will also have a major impact on the beverage packaging market in the future. Urbanisation globally is ever increasing and in particular it is accelerating in the emerging economies such as India and China. This means that more convenience products will be demanded as these consumers are more time constrained thus the demand for packaged goods will increase and this will mean beverages too. Further to this, with the development and growth of these emerging markets there will be more middle class consumers with higher disposable incomes and the demand for premium beverages will also increase and thus once again the demand for beverage packaging will increase.