Alcohol Packaging Market To Record Lucrative Growth, Revenue To Surge To US$ 54.7 Billion By 2024

With the presence of a large pool of participants, the Global alcohol packaging market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). WestRock LLC, Amcor Limited, Stora Enso Oyj, Ball Corporation, Smurfit Kappa Group, Ardagh Group S.A., Owens Illinois Inc., Crown Holdings, Inc., Berry Global, Inc., and DS Smith Plc are some of the key vendors of alcohol packaging across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the alcohol packaging market study.

In a major breakthrough witnessed across the U.S. alcohol packaging market, in September 2018, Luxco Incorporation – a privately owned manufacturer and marketer of distilled beverages and liqueurs- launched an innovative and sophisticated packaging for its Everclear Grain Alcohol brand in the U.S. offering new versatile look to the product for its customers.

Browse the full "Alcohol Packaging Market by Packaging Type (Primary Packaging [Bottles, Cans, Bag-in-box, Liquid brick carton, Growlers, and Pouches] and Secondary Packaging [Boxes, Folding cartons, and Others]), by Material Type (Glass, Metal, Plastic, and Paper & paperboard), and by Application (Beer, Wine, Spirits, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024 " report at  https://www.zionmarketresearch.com/report/alcohol-packaging-market  

As estimated in this report, the global alcohol packaging market stood at US$ 40.2 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this alcohol packaging market is expected to reach US$ 54.7 billion by the end of the forecast period. The main materials available in this alcohol packaging market are glass, metal, plastic, and paper & paperboard. Among them, the demand for glass is relatively higher and the trend is anticipated to remain so over the next few years, notes the alcohol packaging market research report.

Massive Alcohol Consumption And Altering Lifestyles To Drive Market Size

“Rising disposable incomes among urban population and changing lifestyles of the global population along with growing consumerism is anticipated to spur alcohol packaging market trends over the coming years,” says the author of this alcohol packaging market study. Apart from this, introduction of traditional packaging procedures and development of new materials is projected to further push the alcohol packaging market earnings in the ensuing years. In addition, extensive intake of alcohol by the youth population is anticipated to further steer the scope of alcohol packaging market in the near future.

Rise In Consumer Spending On Recreation To Help APAC Maintain Dominance

Regionally, Asia Pacific has been leading the worldwide alcohol packaging market and is anticipated to continue on the dominant position in the years to come, states the alcohol packaging market study. Rise in the consumer spending on recreational activities, increase in the disposable incomes, and massive use of super-premium as well as premium products are the key factors behind the dominance of the Asia Pacific alcohol packaging market. The high number of market players being headquartered in Asia Pacific is another significant factor that is supporting this regional market.

The global alcohol packaging market is segmented as follows:

By Packaging Type

• Primary Packaging
  • Bottles
  • Cans
  • Bag-in-box
  • Liquid brick carton
  • Growlers
  • Pouches
• Secondary Packaging 
  • Boxes
  • Folding Cartons
  • Others  

By Material

• Glass
• Metal
• Plastic
• Paper & paperboard  

By Application

• Beer
• Wine
• Spirits
• Others  

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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