Market Size of Alcoholic Drinks Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.06 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Alcoholic Drinks Packaging Market Analysis
The alcoholic drinks packaging market was valued at USD 29.84 billion in 2020, and it is expected to reach a market value of USD 38.87 billion by 2026, registering a CAGR of 5.06% during the forecast period (2021-2026). Globally, growth in disposable income, coupled with increased spending on recreational activities, is a major influencing factor that collectively lead to a growth of the alcohol consumption, which fuels the growth of the alcoholic drinks packaging market over the forecast period.
- Major manufacturing companies in the alcohol industry follow attractive packaging formats, which include ceramic glass bottles, whiskey pouches, bag-in-box, bag-in-tube, etc. Changing consumer preferences are also affecting the market studied significantly.
- Over the years, growing awareness among the brand manufacturers about differentiating their alcoholic products based on the packaging is also expected to contribute to the growth of the alcoholic drinks packaging market.
- Conventionally, European and American manufacturers are often referred to as the leading producers of alcohol beverages. However, with the rise in demand for Chinese beer and Japanese whiskey, Asia-Pacific is increasingly becoming a major market for alcoholic beverage production, creating a massive demand for alcoholic drinks packaging solutions.
- Owing to various benefits offered by metal packaging, such as better hermetic sealing and high mechanical strength, there is a growing preference for metal packaging from the companies present in the alcoholic drinks packaging market.
- However, fluctuating raw material prices and implementation of stringent regulations on packaging materials used for alcoholic beverages may hinder the growth of the market studied.
