The global beverage packaging market will generate $112.4 billion in 2016 and continue to grow at a steady rate over the next decade, according to a report.
The Beverage Packaging Market Report 2016-2026 by Visiongain found that global growth will remain modest due to the financial and geopolitical climate in the next decade. Commodity price decrease as well as a slowdown in the Chinese economy will have a large effect on the production worldwide.
However, given the current geopolitical tensions around the world, the GDP growth will remain modest but stable for the coming years. Nevertheless, there are many factors weighing on the development of beverage packaging technologies and their growth trajectory.
The growing population, economic development of emerging economies, a shift from the commodity driven economies to consumer driven economies, worldwide sustainability concerns and other factors will contribute to the development of the industry.
One of the main factors is the lower crude oil prices seen in recent years which are contributing to higher profit s by manufacturers of plastic packaging materials.
Furthermore, the lifestyle of consumers shifting to convenience, define the trend towards a single or portion based packaging instead of the standard packaging.
The report also provides profiles of eight leading companies operating within the market such as Amcor, ALPLA, Reynolds Group Holdings and others.