It is said that “As
alcohol flows, so do packaging changes.”
It has been observed that
the consumption of alcohol is increasing rapidly, which in turn is
fuelling growth of the global
alcohol packaging market currently. At present, the alcohol
market manufacturers are very keen on subscribing to the best
packaging standards for their products, as packaging plays an
integral role in influencing the consumers to purchase one brand over
another. Players in the alcohol industry follow unconventional
packaging formats and packaging innovations that include whiskey
pouches, paper bottles, etc. Consumers prefer the brands that come
with convenient and easy to open packaging. In fact, they recognize
some brands on the basis of their packing. The global glass packaging
market is strongly influenced by the alcohol market as most of the
alcoholic drinks are packed in glass bottles; for instance, beer is
packed in dark coloured glass bottles, which helps in UV rays
deflection. The global alcohol packaging market has been witnessing
significant growth until now, and is anticipated to expand at a
modest CAGR over the forecast period due to the surge witnessed in
the alcohol industry.
Increase in
disposable income of people and their consequent additional spending
on recreational activities are factors influencing growth of the
alcohol market currently, which in turn are expected to drive growth
of the global alcohol packaging market over the forecast period.
Increasing consumer demand for convenient and easy to open packaging
format in case of alcoholic beverages is a major factor driving
growth of the alcohol packaging market currently. Increasing
awareness amongst alcohol manufacturers about distinguishing their
products on the basis of packaging is a major factor contributing
towards growth of the alcohol packaging market currently. However,
the stringent regulations witnessed in some regions on the type of
packaging and packaging materials used in case of beverages could
hamper growth of the global alcohol packaging market over the
forecast period. Besides, the materials used for packaging, such as
plastics or PET, are not much environment friendly as they are
non-biodegradable, which is a major restraining factor for the market
growth.
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The growth
opportunity for the players operating in the global alcohol packaging
market lies in changing the packaging trends related to alcoholic
beverages. The use of beer cans has become a fashion amongst the
beers consumers. Nowadays, de-cluttering packaging is trending as a
large number of consumers seek information of the alcohol and its
calorie content. Many of the consumers are unknowingly influenced by
the packaging of the alcoholic product, which thus contributes to the
brand equity of that product. However, increasing awareness about the
side effects of alcohol consumption amongst the consumers could
further negatively influence growth of the alcohol market and,
ultimately, the alcohol packaging market.
The global alcohol
packaging market can be segmented on the basis of the material used,
type of alcohol, and packaging format. On the basis of the material
used, the global alcohol packaging market can be segmented into metal
cans, glass bottles, PET bottles, and paper bottles. On the basis of
type of alcohol, the global alcohol packaging market can be segmented
into beers, wines, and spirits. On the basis of packaging format, the
global alcohol packaging market can be segmented into ceramic beer
bottle, ace of spades, machine gun shaped liquor bottle, single and
double whiskey pouches, and wood-fiber beverage bottle.
By geography, the
global alcohol packaging market is segmented into North America,
Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia
Pacific accounts for the highest share of the global alcohol market
currently, thus making it the global leader in the alcohol packaging
market. In Asia Pacific, consumption of alcohol is witnessed to be
the highest in India and China. The Asia Pacific market is followed
by the North America market, due to the presence of countries such as
the U.S., where alcohol consumption has been a routine since decades.
Thus, North America is a significant contributor to the growth of the
global alcohol packaging market. The alcohol market in Europe is also
witnessing rapid growth, thereby driving growth of the alcohol
packaging market in the region over the forecast period. The alcohol
market in the Middle East and Africa is at a nascent stage, and is
anticipated to expand at a modest CAGR in the future, thereby driving
growth of the alcohol packaging market in the region as well.
Some of the Key
Players in the global alcohol
packaging market are United Bottles & Packaging, O-I, Encore
Glass, Brick Packaging, LLC, Creative Glass, AAC Inc., Orora
Packaging Australia Pvt. Ltd, and Vetreria Etrusca srl.
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