Market Size of US Beverage Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Beverage Packaging Market Analysis
Packaging, as a critical factor, plays an essential role in the widespread consumption of beverages. The US beverage packaging market is estimated to grow at a CAGR of about 5.6% over the forecast period 2021 - 2026. Different beverages being packaged in varied materials and sizes reflect upon the sheer size of the market. Also, being a consumer-end market, the demand for the same has been rising significantly. Major drivers for the same have been growing disposable income, urbanization, and changing lifestyles.
- The growing demand for carbonated drinks, energy drinks, and juices, among others, is indicative of rising PET bottles and metal cans as preferred materials for the same. Glass, on the other hand, with its recyclable properties, has been challenged by increased costs of production and recycling. The preference for the same has been growing recently concerning sustainability trends across beverage packaging.
- Moreover, as plastic has been a long-standing and preferred packaging option by global beverage manufacturers, due to the reduced manufacturing, durability, and logistics costs, the transition towards sustainable packaging has driven these packaging manufacturers and bottling companies to pledge and commit usage of newer materials for the same.
- The American Beverage Association, amongst multiple soft drink producers in the region, announced a USD 100 million joint investment to drive PET bottle recycling in the United States and reduce the industry's use of virgin plastic. Similar trends across multiple regions and countries have been suggestive of a landscape influencing bottlers and packaging manufacturers to pivot product development strategies.
- For instance, as of February 2020, Ball Corporation is expected to expand the United States Metal Can production by 2021. Its specialty beverage can would commence operations in Arizona and the northeastern US, in line with the company's previous commitment to add at least 8 billion units of capacity by the end of 2021.
- Due to COVID-19 impact on the recycling front, multiple waste companies have been observed to have stopped or reduced recycling and collection processes. In the United States, Waste Management suspended operations at some of its materials recovery facilities (MRFs).
