Market Size of Alcoholic Beverage Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.13 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Alcoholic Beverage Packaging Market Analysis
The alcoholic beverage packaging market was valued at USD 63.43 billion in 2020 and is expected to reach USD 93.68 billion by 2026, at a CAGR of 5.13% over the forecast period 2021 - 2026. The packaging of alcoholic beverages plays a significant role in the brand promotion of alcohol. The alcoholic beverage industry highlights the innovations, including enhanced branding and unconventional packaging formats, such as paper wine bottles, whiskey pouches, etc.
- It was observed that the global consumption of alcoholic beverages has been increasing significantly, over the decades. According to the study conducted by Lancet, alcohol per-capita consumption increased from 59 liters in 1990 to 65 liters in 2017, globally. Furthermore, in the following 13 years, alcohol per-capita consumption is expected to grow by 17%, reaching 76 liters in 2030. The rising alcoholic beverage consumption is one of the key factors driving market growth.
- Additionally, owing to the awareness regarding the usage of 100% recyclable products, in order to minimize packaging waste, the focus on recycling packagings is growing. This is, thus, fuelling the demand for sustainable packaging products and supporting the growth of the alcoholic beverage packaging market.
- However, stringent government regulations on the use of hazardous and non-biodegradable products have limited the manufacturers to a few packaging materials. Furthermore, the increasing cost of production is also restricting the growth of the market studied.
