Over the past few decades, the soft drinks packaging industry is growing across the globe due to increases in the consumption of soft drinks in developing countries. The consumption of soft drinks, primarily functional drinks, has amplified owing to the starter of a broad range of option in these untapped markets such as carbonated drinks, juices, energy drinks, sports drinks, flavoured water and a rise in disposable income of the people. The major type of materials and components included in the soft drinks packaging are rigid plastic, flexible plastic, paper and board, glass, rigid metal, closures, and labels. Soft drinks available in the different categories smaller on the go packs and larger family packs, the demand of the small on the go soft drinks is high as compared to the larger family pack. Soft drinks packaging is expected to register sluggish growth due to the adoption of health and wellness products by consumers. Various types of packaging options available in the soft drink packaging market, they are bottles, pouches, cartons, cans, and others.
Soft Drinks Packaging – Market Dynamics
There are several factors which contribute to the growth of the soft drinks packaging market. One of the significant factors which participate in the growth of the soft drinks packaging market is increasing demand for the soft drink in the developing countries due to increases in the disposable income of the persons. Metal cans and currently account for a significant share of the total packaging types used for packaging of soft drinks. Metal cans are preferred for the packaging of carbonated soft drinks because of the lightweight and fully recyclable nature.
Nowadays, inclination towards the glass bottle for the packaging of soft drinks is reduced because of its alternative options such as PET bottle, which is more compatible for the packaging of the soft drinks. PET bottles are lighter, so it saves the transportation and storage cost, and it is one of the best cost-saving options for the packaging of soft drinks so these are the several reasons for the popularity of PET bottles. The consumer preference towards the freshly prepared products may affect the stagnant growth of the soft drinks packaging market in near future.
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Soft drinks packaging market has been segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. Among these regions, North America and Asia Pacific are expected to collectively dominate the market throughout the forecast period. Latin America and Middle East & Africa are expected to witness sluggish growth during the forecast period. Amongst North America, Europe, and Asia Pacific, Europe is expected to create maximum incremental opportunities in terms of revenue for companies involved in the soft drinks packaging market. However, China and India based soft drinks manufacturers are focusing on creating value-added products that meet consumer desires for flavourful, functional and healthy products.
Soft Drinks Packaging Market – Key players
Few of the key players identified across the globe in the soft drinks packaging market are Amcor Ltd., Pacific Can China Holdings Limited, CAN-PACK S.A., Tetra Pak Inc., Graham Packaging Company, Bemis Company Inc., CKS Packaging, Inc., Crown Cork & Seal Co Inc. etc.
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