Alcohol packaging includes primary and secondary packaging solutions used to package different types of alcohols. The demand of alcohol packaging is increasingly rising with the consumption of alcohol. Further adding to this, increasing per capita income has resulted in more consumers consuming alcohol. This, in turn, is expected to boost the growth of global alcohol packaging market. Global alcohol packaging market worth nearly US$ 40 Bn and is expected to grow at a CAGR of over 4.7%, the demand for alcohol packaging solutions is expected to grow over the forecast period.
Key players in the global alcohol packaging market includeare WestRock LLC, Stora Enso Oyj, Smurfit Kappa Group, Amcor Limited, Ball Corporation, Crown Holdings, Inc., Ardagh Group S.A., Owens Illinois Inc., Berry Global, Inc., DS Smith Plc, Gerresheimer AG, Nampak Ltd., Vidrala S.A., Intrapac International Corporation, Beatson Clark Ltd., and BA Glass Germany GmbH.
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Alcohol packaging is gaining traction among manufacturers as the production of alcohol is increasing due to which the requirement of the alcohol packaging is also rising. It is considered environment friendly as the materials used for alcohol packaging are mostly recyclable. Moreover, alcohol packaging are attractive and convenient packaging solutions. The alcohol packaging manufacturers helps to provide consumer a convenient packaging. Primary packaging solutions, such as bottles, cans, growlers are easy to open resulting in ease in consuming. This helps the manufacturers seeking for innovation in packaging solutions.
Primary Packaging Segment to dominate with 80% Share
Globally, the alcohol packaging market has been segmented as primary and secondary packaging type, by packaging type. Primary packaging segment for alcohol packaging dominates the secondary packaging type, by packaging type, with an estimated market share of 80% by value.
Europe and APAC Markets Lead the Way as Emergence of Local Players Fosters Growth
The global alcohol packaging market is divided into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The Asia Pacific region is projected to register the highest CAGR of 5.3%, over the forecast period.