Transparency Market Research states that the global alcohol packaging market
is highly fragmented due to consistent entry of several regional
players. To stay ahead of the competition, players are introducing
innovative methods of packaging that are not only attractive but also
eco-friendly. Some of the prominent companies in the global market are
expected to focus on acquisition, new product launches, and expansion to
newer markets to improve their revenue. Amcor, Ball, Owens-Illinois,
and Tetra Laval are the key players defining the competitive landscape
of the global alcohol packaging market.
According to the research report, the
global alcohol packaging market was worth US$40,009.2 mn in 2017 and is
expected to be worth US$57,746.9 mn by the end of 2025. Out of the
packaging type, the primary method of packaging is likely to drive the
global market in the coming years as it is slated to account for a share
of 80% in the overall market. Regionally-speaking, Asia Pacific is
expected to show tremendous growth in the near future as the emerging
economies in the region are witnessing rapid urbanization. Asia Pacific
alcohol packaging market is expected to surge at a CAGR of 5.3% during
the forecast period.
Consumerism and Changing Lifestyles to Dictate Demand for Alcohol Packaging Market
The global alcohol packaging market is
predominantly being driven the rapid pace of urbanization in various
parts of the world. The rising disposable income amongst the urban
dwellers has made a significant contribution to the soaring profits of
the global alcohol packaging market. Furthermore, changing lifestyles
and growing consumerism is expected to play an integral role in the
development of the global market. Introduction of unconventional
packaging methods and development of better materials are also projected
to be key drivers of the global market.
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Improving branding and marketing
strategies has prompted several alcohol manufacturers to invest in
packaging alcohol. Packaging formats have become synonymous with brand
identification in the alcohol industry, which is expected to bring in a
rise in the expenditure on alcohol packaging in the near future. Design
and development of sustainable packaging solutions is expected be the
global market a solid boost in the forthcoming years. Analysts
anticipate that pouch packaging will gain traction in the near future as
it a convenient and lightweight to carry. The report observes that
demand for sustainable pouch packages will be an emerging trend in the
global market. It will be wise to capitalize on this trend as prices of
plastic resins and paper pulp are slated to rise, thereby impacting the
cost of packaging.
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