Nordic Beverage Packaging Market Size Forecast to Reach $2.2 Billion by 2027

The Nordic beverage packaging market size is forecast to reach US$2.2 billion by 2027 after growing at a CAGR of 3.5% during 2022-2027. The awareness about the consumption of fresh and healthy non-alcoholic beverages such as milk and fresh juices is increasing in the Nordic region and this rising demand for non-alcoholic beverages will drive the market’s growth in the forecast period. For instance, in November 2020, Denmark-based dairy producer Arla Foods launched carbon net-zero milk in Denmark. Furthermore, the rising demand for sustainable beverage packaging in the region will drive the market’s growth in the forecast period. For instance, in August 2021, Norway-based company Elopak which deals with carton beverage packaging launched its new environmentally friendly aseptic carton named Pure-Pak eSense where the ‘e’ stands for eco-friendly. These cartons are developed in a way that will preserve the product safety, lifespan, and integrity without the use of aluminium layer which is usually implemented in aseptic packaging. Polyethylene terephthalate (PET) plastic is expected to witness the highest demand during the forecast period owing to the recyclability property of PET containers. Packaging with glass containers and paper packaging will witness decent demand in the forecast period. The fluctuation in the raw material prices might hamper the growth of the market in the forecast period.

COVID-19 Impact

The Nordic beverage packaging market was badly affected by the COVID-19 pandemic. The market went through multiple disturbances during the pandemic ranging from supply chain disruption, factory shutdown, lack of raw materials, etc. Market players took necessary steps to avoid the pandemic becoming a food supply crisis. As per the May 2020 COVID-19 by Switzerland based packaging company Tetra Pak, the company stepped up and implemented steps to maintain a smooth logistics operation so that its customers can have access to large quantities of raw materials for the continuous processes they execute. The company also modified its working method by amplifying its remote support services while observing travel restrictions and social distancing requirements. The market witnessed decent growth in the later stages of the pandemic owing to the increased awareness about healthy non-alcoholic beverages like milk, fresh juices, etc. Going forward, the market is projected to continue robust growth in the forecast period owing to expanding non-alcoholic beverages segment in the market.

Nordic Beverage Packaging Market – By Type 

Bottle and jar dominated the Nordic beverage packaging market in 2021 and is growing at a CAGR of 3.6% during the forecast period. These containers provide a strong gripping ability and high storage capability as compared to other beverage packaging solutions like cans and pouches. Polyethylene terephthalate based bottles are widely used in the Nordic region for packaging mostly non-alcoholic beverages like cold brew coffee, juices, milk, etc. PET containers are also 100% recyclable due to which manufacturers are engaging more in the production and recycling of PET based bottles and containers. For instance, in May 2021, Finland based wine brand Altia launched the first wine bottle manufactured with recycled plastic. The company stated this feat was achieved owing to Altia’s continuous efforts for developing better packaging solutions. Going forward, the company aims to revamp its PET bottles packaging solution. Such expansion in the bottles and containers packaging solutions will propel the growth of the Nordic beverage packaging market in the forecast period. Apart from bottles and jars, cartons will witness robust demand in the forecast period as they are extensively used for aseptic packaging of many aseptic products like non-carbonated water, juices, and dairy products. 

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Nordic Beverage Packaging Market – By Raw Material 

Plastic dominated the Nordic beverage packaging market in 2021. It is used extensively owing to its excellent recyclable property. Polyethylene terephthalate is the most commonly used plastic in the production of beverage packaging containers as this type of plastic makes the product lighter and safer for the environment. PET is 100% recyclable, lighter, and safe to use, and accordingly, manufacturers in the target market are focusing on increased implementation of PET in beverage packaging containers. For instance, as per the August 2021 news by Coveris which is a beverage packaging company operating in the Nordic region is incorporating deposit return schemes that will enable recovery of clean PET which can be used in recycled PET for the manufacturing of bottles and containers. Such initiative will lead to higher usage of polyethylene terephthalate plastic in the production of containers for beverage packaging which will contribute to the growth of the Nordic beverage packaging market in the forecast period. Apart from PET, packaging of beverages through glass containers and paper packaging will witness significant demand in the Nordic region in the forecast period owing to the nature-friendly properties of glass and paper.

Nordic Beverage Packaging Market – By Application 

Non-alcoholic beverages dominated the Nordic beverage packaging market in 2021 and is growing at a CAGR of 3.7% during the forecast period. Non-alcoholic beverages include coffee, tea, milk, soft drinks, smoothies, soda, juices, shakes, mocktails. The increasing demand for non-alcoholic beverages is attributed to the rising health awareness and efforts to reduce acholic consumption in the Nordic region. Accordingly, market players are making deep dives into the manufacturing of suitable non-alcoholic beverage packaging solutions. For instance, in September 2020, TINE SA, a Norway based company that deals with dairy products and packaging, launched its organic milk in an eco-friendly carton. Similarly, a survey conducted by Altia in July 2021 showed that the demand for alcohol-free beverages is increasing among adults in Finland and nearby regions. Altia is continuously expanding its research for developing non-alcoholic products. Such massive demand for non-alcoholic beverages in the region will augment the Nordic beverage packaging market’s growth in the forecast period. 

Nordic Beverage Packaging Market – By Countries 

Sweden held the largest share in the Nordic beverage packaging market in 2021 with a market share of up to 30%. The demand for beverage packaging in this country is attributed to the considerable growth of alcoholic beverages and the presence of multiple top market players in the country. For instance, as per the data by nordicalcohol.org, in 2020, sales of systembolaget alcohol in Sweden was 106.2 centilitres which were 96.7 centilitres in 2019. This increasing demand for the non-alcoholic beverage in this country will amplify the beverage packaging portfolio during the forecast period. Furthermore, the presence of key players like Havredals Biodevelop Ab, BillerudKorsnäs AB, Trensums Food AB, and many more will contribute to the expansion of beverage packaging in the country. On June 10, 2021, Havredals, launched a new oat drink named Kafe & Kondis with carton packaging. Similarly, 200 million beverage containers are produced daily in the Gavle production unit of BillerudKorsnäs AB. Gavle manufacturing facility deals with the production of liquid cartons for the packaging of beverages. Such massive activity related to beverage packaging in Sweden will contribute to the Nordic beverage packaging market’s growth in the forecast period. After Sweden, Iceland is projected to witness significant demand for beverage packaging in the forecast period owing to the rising number of microbreweries in the country. 

Nordic Beverage Packaging Market Drivers 

Increasing demand for sustainable beverage packaging will drive the market’s growth 

The players in the Nordic beverage packaging market constantly looking for various methods to develop sustainable beverage packaging solutions owing to the increasing demand for sustainability in the region. Market players are focusing to enhance their packaging portfolio through sustainable alternatives with similar functionality and option to reduce packaging wastes. For instance, in February 2021, BillerudKorsnäs AB and Tetra Pak joined hands with a vision to attain 100% recyclable packaging. The sustainability figure stands at 70% and with continuous innovation, the companies aim to achieve the 100% mark soon. Such sustainability goals by key market players will drive the growth of the Nordic beverage packaging market in the forecast period. 

Rising demand for non-alcoholic beverages will drive the market’s growth

The demand for non-alcoholic beverages such as fresh juices, milk, non-carbonated water, cold brew coffee, and other cold drinks. Factors like a conscious effort to reduce consumption of alcoholic drinks and increasing health awareness are amplifying the demand for non-alcoholic beverages in the region. As per the February 2021 press release report by Denmark based dairy producer Arla Foods, overall revenue for milk-based beverages through Arla’s brands during the pandemic increased to US$ 268 million compared to US$ 239.37 million in 2019. Similarly, as per the September 2021 press release report, Norway based dairy producer Tine SA launched Biola Tropical drink with a natural content of sugar from fruit and milk. Such developments in non-alcoholic beverages will drive the growth of the market in the forecast period. 

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Nordic Beverage Packaging Market Challenges 

Fluctuation in raw material prices might hamper the market’s growth 

The fluctuation in the prices of raw materials might hinder the growth of the Nordic beverage packaging market in the forecast period. The Nordic beverage packaging market involves raw materials like polypropylene, polyethylene, etc., and these raw materials are produced from petroleum. During the pandemic, petroleum prices hit historically low figures owing to lockdown and logistics restrictions. As per the data by ourworldindata.org, crude oil prices in 2017 were US$ 54.19 per barrel which increased to US$ 64.21 per barrel in 2019. In 2020, the oil price again dropped to US$ 41.84 per barrel. Such fluctuation in oil price created volatility in the petroleum prices which is ultimately fluctuating the prices of raw materials. This fluctuation in prices of raw materials might hamper the growth of the Nordic beverage packaging market in the forecast period. 

Nordic Beverage Packaging Industry Outlook 

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in this market. Nordic Beverage Packaging top 10 companies include: 

1. Amcor
2. Ball Corporation
3. Stora Enso
4. Elopak
5. Crown Holdings
6. Sonoco Products Company
7. BillerudKorsnäs AB
8. Tetra Laval International S.A
9. Danish Bottling Company
10. Altia Plc
11. Tine SA
12. Mondi PLC
13. Others 

Recent Developments

In October 2021, BillerudKorsnäs AB relaunched a premium white-top coated kraftliner for litho laminated packaging named Pure Supreme which is used for beverages packaging. Such development in the beverage packaging solution will contribute to the expansion of Nordic beverage packaging market in the forecast period.

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Key Takeaways: 

Bottles and jars will witness the highest demand in the Nordic beverage packaging market in the forecast period. These containers provide more beverage packaging space and enhance the visual appeal of shelves.

Polyethylene terephthalate plastic is gaining traction in bottles and containers production in the target market. For instance, in April 2020, Amcor, a market leader in beverage packaging, launched multiple PET bottles to help co-packers in meeting the rising demand for e-commerce packaging.

The non-alcoholic beverage is anticipated to drive the Nordic beverage packaging market in the forecast period. According to August 2021 product news by Elopak, Finland based dairy food giant Arla Foods launched its new smoothies which involve packaging with cartons.

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