BEVERAGE PACKAGING MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 

Beverage Packaging Market Analysis:

The estimated size of the Beverage Packaging Market is USD 143.02 billion in 2023, with an expected growth to USD 175.26 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 4.15% during the forecast period (2023–2028).

The market size is determined by the value of the consumption of beverage packaging products across various end-user industries, and is calculated in real terms. The scope of the market includes beverage packaging products such as bottles, cans, pouches, cartons, and beer kegs.

Beverage packaging products provide tamper resistance and protection, and cater to the physical, chemical, or biological needs of beverages. Furthermore, beverage packaging promotes nutrition and ensures swift and reliable distribution across the value chain.

The size of the beverage packaging market has been a contentious issue for the past decade, owing to several factors, including growing health concerns. Excessive consumption of aerated drinks, for instance, leads to an imbalance of sugar in the bloodstream, damaging the liver’s ability to process sugar intake and increasing the risk of Type 2 diabetes. Consequently, beverage manufacturers are under increased pressure to reduce the size of their packaging, providing consumers with more options and greater control over their consumption. Additionally, several manufacturers have pledged to reduce the calorie content, driving the need for smaller packaging.

The sales of beverage packaging products such as plastic and paper bottles and containers are also being augmented by dynamic lifestyles and the consequent dependence of consumers on packaged beverages. This trend is boosting the sales of plastic products, owing to their superior barrier properties, convenient format, high-quality printability, and prudent usage of material resources.

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