Market Size of North America Soft Drinks Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.95 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Soft Drinks Packaging Market Analysis
The North America soft drinks packaging market is expected to register a CAGR of 8.95% during the forecast period of 2022-2027. The global outbreak of the COVID-19 pandemic has significantly impacted the packaging industry, which has led to some of the sharpest declines in demand for certain types of packaging in recent times while accelerating growth for others. Several manufacturers in the country are witnessing an uptake in demand for cans and plastic bottles due to hygiene-based consumer perceptions surrounding the packaging materials.
Packaging plays an essential role in the soft drinks market. Efficient packaging solutions offer ease of use, disposability, and enhanced user experience. These benefits have led to the demand for packaging solutions for the soft drinks segment in the region. Another trend augmenting demand is new and innovative products that help manufacturers enhance their brand visibility while offering product differentiation.
With the trend toward healthier beverages threatening the growth of carbonated soft drinks, finding new and innovative ways to get consumers through packaging stimuli is crucial for packaging manufacturers and brand owners. However, the cost will still be the key ingredient to any new packaging feasibility.
Soft drinks are the second most-consumed drink after water, with plastic being the most used material for soft drinks packaging. Many beverage companies favor plastic packaging material for bottled beverages due to its lightweight, durability, and cost-efficiency.
Many plastic products are being recycled and reused in recent years. Also, the variety of plastics available for packaging, such as PVC, PE, PP, PS, PET, and nylon, is one of the reasons contributing to the market share of this segment in the region.
As a result of the COVID-19 pandemic, out-of-home consumption of soft drinks, which historically generates the highest margin, has come to nearly a standstill due to growing concerns about maintaining hygiene and widespread lockdown. This is expected to bring long-term changes in customers' behavior and purchasing patterns, pushing the packaging industry to bring innovative solutions to meet the changing requirements.
