Europe Beverage Packaging Market Size

Europe Beverage Packaging Market Analysis

The Europe Beverage Packaging market is expected to register a CAGR of 5.58% over the forecast period (2021 - 2026). The impact of the COVID-19 outbreak in the region was severe, and the effects were observed in the packaging industry. Offline food chains, such as restaurants and cafes, have been entirely shut down, leading to a decline in demand for beverages. On the contrary, beverages, such as milk products, are witnessing increasing demand as consumers rush to stock the pantries.

• In the European region, the beverage industry plays a critical role. Consistently rising population and per capita income, and changing lifestyles are the key drivers driving the beverage industry's expansion in the region. The demand for healthier food alternatives, such as fresh milk, is increasing because this type of milk is considered more nutritious and more beneficial than shelf-stable milk.
• Flexible beverage packaging is being driven by the quickly embraced trend of lightweight packaging materials and the desire to reduce production, transportation, and handling costs. Furthermore, the rise of e-commerce, which focuses on visually appealing packaging trends, is driving demand.
• Furthermore, with an expected steady increase in alcohol consumption after the lockdown restrictions are eased out, Europe is expected to see more focus on off-premise consumption compared to on-premise consumption. The off-premise consumption of alcohol is favorable for the growth of the packaging market. Alcoholic beverages packaged in pouches for single-serve consumption are a few notable examples that have become increasingly popular in the studied market.
• However, Suntory, the beverage giant in the region, has pledged to eliminate virgin plastics, such as fossil-fuel-based plastics, from its packaging portfolio, by 2030. Such initiatives from other industry players may limit the growth of the market during the forecast period.