LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global beverage packaging market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Sharan Raj, a lead analyst from Technavio, specializing in research on packaging sector says, “Europe and North America have mature beverage packaging markets, and the growth rate of the market in these regions is less when compared with several developing countries in APAC. Due to the rise in income levels and rapid urbanization, developing markets such as India, China, and Indonesia is exceeding the current growth rate of the global market.”
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The top three emerging market trends driving the global beverage packaging market according to Technavio’s transportation and logistics research analysts are:
- Rise in demand for lightweight packaging
- Growing use of automation in beverage packaging
- Increasing demand for functional drinks and alcoholic beverages
Rise in demand for lightweight packaging
One of the major trends in the global food and beverage packaging industry is the emphasis on lightweight packages. Lightweight packaging materials allow vendors to reduce the cost of transportation. In 2014, Sidel, a beverage packaging company launched pasteurizable lightweight PET bottles for beer with a non-petaloid base. In 2013, Ball Corporation introduced lightweight cans in Europe. These new beer cans contain 25% recycled aluminum and are 10% lighter than their previous versions.
Growing use of automation in beverage packaging
Fully automated packaging machinery provides flexibility in volume and consistency. Robotic machines are equipped with advanced monitoring and control capabilities to maintain packaging lines and reduce energy consumption. Technologically advanced robotic machinery uses real-time data collected from several machines and the entire packaging line to optimize output. In such machinery, malfunctions operational issues with a single machine are detected and rectified so that the performance of the overall machinery is not affected.
“Robotic packaging machinery enables reduced wastage of packaging materials and timely rectification of operational problems,” says Sharan.
Increasing demand for functional drinks and alcoholic beverages
Functional drinks include energy drinks, RTD tea and coffee, sports drinks, and enhanced fruit and water drinks. These drinks witness the highest growth rate in the beverages industry and will grow at a CAGR of more than 7% during the forecast period. Retail sales of functional drinks have increased by more than 30% from 2005 to 2015 in the US. This is mainly due to increased health consciousness among consumers, saturated carbonated soft drinks (CSD) market, and the low market share of functional drinks.
The demand for alcoholic beverages is generated due to the introduction of new flavors in alcoholic beverages, Irish whiskey and American bourbon, and premium alcoholic beverages, which, in turn, will lead to the growth of the beverage packaging market.
Browse Related Reports:
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- Global Flexible Packaging Market for Food and Beverages 2016-2020
- Global Packaged Food Traceability Market 2016-2020
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