The Global Alcohol Packaging Market is expected to grow at a CAGR of 4.2% during the forecast period.
Market Research Future published a half-cooked research report on Global Alcohol Packaging Market that contains the information from 2017 to 2023. Global alcohol packaging market is expected to grow with the CAGR of approximately 4.2% from 2017 to 2023.
Taste the market data and market information presented through more than 85 market data tables and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Alcohol packaging Market Information from 2017 to 2023."
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Packaging provides strong brand visibility and increased brand promotion therefore, alcohol manufacturers are concentrated on providing the best standards in packaging. Manufacturers mostly focus on providing a wide array of creative and convenient packaging designs to increase the product appeal. Alcoholic beverages are packaged in two types of packages: primary and secondary packaging. Rapid urbanization, cultural influences, the ability of consumers to buy premium grade alcoholic beverages owing to high purchasing power, and increasing trend of social drinking in bars are influencing the demand for alcohol which is detrimental to the growth of alcohol packaging market. Moreover, increasing popularity of various brands of alcohol among the youth owing to creative marketing strategies and convenient packaging is likely to drive the market growth. However, stringent rules on alcohol packaging materials and shifting preference of consumers towards non-alcoholic beverages owing to adverse effects of alcohol are the major factors that hinder the growth of the market.
Hence, the global alcohol packaging market is expected to grow at a CAGR of 4.2% during the forecast period.
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North America region dominates the global Alcohol packaging market
Geographically, the global alcohol packaging market has been divided into four major regions: North America, Europe, Asia-Pacific and the rest of the world. North America has accounted for the largest market share, in 2017, followed by Europe and Asia-Pacific. High quality of living and increasing consumption of premium alcoholic beverages are driving the growth of the market in this region. Europe is the second-largest accountable market for alcohol packaging. Strong cultural influences and affordability of alcoholic beverages drive potential demand for market in coming years.
North America is expected to grow at the highest CAGR during the forecast period. High living standards of people and high consumption of premium alcoholic beverages in the region is driving the demand of the market. The US and Canada are the major markets contributing to the growth in the North American region. Growing disposable income and high standards of living in the region are driving the growth of the market. Asia-Pacific and the rest of the world (the Middle East & Africa) are expected to significantly contribute to the market growth during the forecast period mainly due to changing lifestyle and high growth in the consumption of alcohol among middle-class people along with the increasing purchasing power of consumers.
The prominent players in the Alcohol packaging market include Ball Corporation (US), Crown Holdings, Inc. (US), Ardagh Group S.A. (Republic of Ireland), Fiberon, LLC (USA), Owens Illinois Inc. (US), Berry Global, Inc. (US), Gerresheimer AG (Germany), Nampak Ltd (South Africa), Stora Enso Oyj (Finland), Vidrala S.A. (Spain) and among others.
This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global alcohol packaging market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.
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alcohol beverage industry
liquor bottle packaging
alcohol industry trends
alcoholic beverage manufacturers
liquor bottle design