Alcohol Packaging Market
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Growing Consumption of Alcohol Beverages to Drive Alcohol Packaging Market
The increase in consumption of alcoholic beverages among different-different age groups in recent gone by years has led to the rise in demand for alcoholic packaging. Alcoholic packaging is used in many applications such as beer, wine and spirits. The rise in consumer demand for alcohol has bolstered the growth of the alcohol packaging industry as the numbers of consumers are rising apace. Furthermore, beer remains the most popular alcoholic beverage for consumers across the globe, which boosted the consumption of alcoholic packaging solutions.
Beer is the most consumed alcoholic beverage among other alcohols. It is one of the main driving factors for the growth of the alcohol packaging market. Beer comprises natural antioxidants, proteins and vitamins which help to prevent kidney stones and consumption of beer lowers the bad cholesterol. The rising awareness among the consumers towards the health benefits offered by beer is bolstering the demand for alcohol, which will directly profit the alcohol packaging market. The expansion in the number of retailers and pubs has resulted in a rapid increase in beer consumption, which led to an increase in the alcohol packaging market.
Emerging countries such as India, and China have registered rapid growth in the number of alcohol consumers, which is attributed to the change in consumers’ lifestyles and increase in disposable income of consumers. The increasing consumption of alcoholic beverages in emerging economies such as India and China is anticipated to be a key driving factor for the growth of the global packaging market.
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As per the NIAA (The National Institute on Alcohol Abuse and Alcoholism), approximately 29-31% of the alcohol is consumed by young adults across a variety of alcohol brands. So the popularity of alcohol among young adults is propelling the demand for the alcohol packaging market.
As per the WHO, in the recent available published data, the global average alcohol consumption was 6.18 litres per person and in India, it was 5.54 litres per person. Europe remains the highest with 15 litres per person per year in Czechia. By 2027, the total APC (alcohol per capita consumption) for 15+ years is projected to rise in regions like the Americas (8.0 litres-8.4 litres), the Western Pacific region (7.3-8.1 litres) and the South-East Asia region (from 4.5 litres to 6.2 litres). Hence, the global APC is expected to rise (from 6.4 litres to 7.0 litres). The increase in global’s total APC is projected to increase from 25.5% in 2016 to 27.7% in 2027.
Demand for Sustainable Packaging Solutions to Bolster Alcohol Packaging Market
Manufacturers in the alcohol packaging industry are emphasizing sustainable packaging solutions for their product offerings. Due to the high demand for alcohol packaging solutions and their compatibility with recyclability is in great demand among important global end-users. In respect of the growing environmental awareness, the demand for innovative and eco-friendly alcohol packaging solutions will gain a decent pace. As environmental awareness is growing among consumers about the harmful effects of various polluting materials. Consumers are preferring products, which are packaged with sustainable raw materials over non-recyclable materials.
The rising popularity of materials like paper & paperboard will also play a vital role in generating significant opportunities for the alcohol packaging market. In the coming years, the increase in consumption of sustainable packaging solutions will be the key driving force for the growth of the beverage packaging industry.
The growing usage of alternative recyclable packaging solutions is becoming the global trend for the alcohol packaging market.
Recently, the usage of PET disposable bottles, glass disposable bottles and PET, glass returnable bottles are on-trend. Key alcohol manufacturers like Diageo have released the 100% plastic-free paper Johnnie walker bottles, which are made by pulp firm and Bacardi is also developing a 100% biodegradable plastic bottles, which can be biodegradable in 18 months, so by 2025 Bacardi will be launching world’s most sustainable alcohol and these bottles are expected to replace the 80 millions of plastic bottles. With this development on an annual basis, Bacardi will eliminate at least 3000 tons of plastics produced. This seems to emerge as a trend among the other manufacturers, which will directly benefit the environment. Many key players are adopting this trend because of its cost-effectiveness and material recyclability in nature.
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According to TMR analysis, the global alcohol packaging market is highly competitive, due to the growing number of regional manufacturers and global manufacturers’ efforts to increase their geographical reach and product portfolio expansions in order to acquire the majority of market shares. This competition among significant companies is carefully reviewed based on the company’s latest advancements, strategy, and segmental revenue.
Depending on various key factors such as market recovery from the COVID-19 outbreak, pricing analysis, demand and supply of raw materials and so on, there could be a great prospect and an optimistic scenario.
The recent study of the alcohol packaging market includes profiles of players such as Crown Holdings, Inc., Ball Corporation, Owens Illinois Inc., Ardagh Group S.A., Berry Global, Inc., Gerresheimer AG and Others. TMR categorised these manufacturers as Tier 1, Tier 2 and Tier 3 as per their revenues and segmental earnings. Among these companies, the Crown Holdings, Inc., Ball Corporation, Ardagh Group S.A., are identified as Tier 1 players, and Illinois Inc., Gerresheimer AG, Stora Enso Oyj, Nampak Ltd, Smurfit Kappa Group and Amcor Limited are Tier 2 players.
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