Soft Drinks Packaging Market is Projected to Grow Above 3.95% CAGR in Future
Research Reports
Dec 14, 2022
The soft drink packaging market is expected to grow at a CAGR of 3.95% during the forecast period of 2021-2028, when the forecast period concludes. A non-alcoholic beverage with a variety of flavors and other additives is known as a soft drink. Based on its contents, followed by its vitamins and minerals, it helps with a variety of demands, including hydration, carbohydrates or calories, nutrients, vitamins, and many more. The rising demand from consumers in emerging markets has been a major factor in the expansion of the soft drinks packaging industry. A growing middle class in emerging nations has led to a surge in demand for soft drinks, which in turn has led to an increase in the worldwide market for soft drink packaging over the final few years of the historic projection period. The market has been expanding at a quick clip because of a number of factors, including the rise in the number of young people. Consumers in today’s market are health-conscious; as a result, they favor soft drinks over alcoholic beverages. As a result, soft drinks have emerged as an accessible substitute for alcoholic beverages, which has contributed greatly to the expansion of the market for both.
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Regional analysis:
The worldwide market for soft drinks packaging has been divided into regions like North America, Europe, Asia Pacific, and the Rest of the World based on the value of the market in those areas. In 2017, around 202,400 million liters of soft drinks were sold just in the Asian Pacific area that is home to nations like India, China, Japan, Korea, and others. The main element of the expanding market size in the Asian Pacific area is experiencing an increase in the growth of the general population and the population of young in this region, which results in a broad degree of expansion in the vast consumer base. Another cause for the expanding soft drink industry is the fast-growing economies in the global market premises. China is growing as a dominant country in the Asia Pacific due to its enormous population. There is a very strong demand for soft drinks in nations like Argentina because of warm climatic conditions and greater earnings.
Market Segmentation:
During the projected period ending in 2028, it is expected that the worldwide soft drink packaging market share will rise. Material, packaging type, application, size, and other factors, such as geography, have all been used as dividing lines in the worldwide market.
Glass, plastic, metal, paperboard, and other materials make up a small portion of the overall soft drink packaging industry. Due to its low price and widespread availability, plastic packaging is expected to capture the largest part of the market.
Boxes, bottles, cartons, cans, and others are all included in the soft drink packaging market’s categorization by packaging type.
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Key players:
Australia’s Amcor Ltd., the United States’ Crown Holdings, Inc., the United Kingdom’s AptarGroup Inc., Luxembourg’s Ardagh Group Inc., America’s Graham Packaging Company, the United States’ Owens-Illinois, Inc., the United States Ball Corporation, and Sweden’s Tetra Pak International S.A. The companies CAN-PACK S.A. (Switzerland), Allied Glass Containers (United Kingdom), Bemis Company Inc. (United States), and Bemis (Germany) are all involved. CKS Packaging, Inc. (United States).
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