Beverage packaging is a packaging of beverages which are done by using a bottle, can, pouches, paperboard, and pallets plastic films. The market of the beverage packaging is classified on the basis of dairy beverages, alcoholic beverages, and non-alcoholic beverages.
The global beverage packaging market is estimated to be valued at US$ 233.215 billion in 2021 and is expected to exhibit a CAGR of 5.8 % over the forecast period (2021-2028).
Increasing demand for beverage is driving growth of the beverage packaging market. Growing consumption of sports drinks and rising adoption of advanced packaging is again fostering growth of the beverage packaging market. For instance, in March 2021, Graphic Packaging International launched recyclable paperboard packaging solution for beverage brands: Cap-It. It is a clip with neck rings designed for multipack PET or recycled PET bottles. Produced from renewable materials, the paperboard solution offers an alternative to traditional shrink film packaging, increasing overall pack recyclability to 100%.
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The growing demand for eco-friendly product packaging is projected to bring new market opportunities in the near future. For instance, in February 2020, Numi Organic Tea introduced its new plant-based packaging that features a bright, bold, ingredients-focused look. new packaging is more eco-friendly and produced from 90 percent post-consumer waste paper cartons, soy-based inks, and biodegradable Manila hemp tea bags. Thus, the growing demand for eco-friendly product packaging is propelling market growth.
Key companies covered as a part of this study include Amcor Limited, Alcoa Inc., Ball Corporation, Crown Holdings, Inc., Owens-Illinois, Inc., Rexam PLC, Reynolds Group Holdings Limited, Ardagh Group S.A., Tetra Laval International S.A., and Compagnie de Saint-Gobain
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