Functional Drink Packaging Market: An Overview
Functional drinks are used as energy drink especially by athletes, sports players, and patients. The primary purpose of functional drink is to provide boost the cells of the human body so that the athletes can perform gets refresh quickly and regain strength during the performance. For patients, the functional drinks hydrate the body and provide necessary nutrition to the patients which helps them to recover from diseases. Thus the packaging of functional drink products plays a crucial role to increase the shelf life of the product and keeps the product fresh and therefore the Functional Drink Packaging market is expected to grow substantially during the forecast period.
Functional Drink Packaging is available in various types such as bottles, jars, cans, and pouches out of which bottles are mostly preferred packaging material and expected to grow notable than other packaging types during the forecast period. People nowadays are more concerned about physical fitness which also adds the importance of the Functional Drink Packaging market in near future.
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Functional Drink Packaging Market: Dynamics
The factors which drive the Functional Drink Packaging market are an increase in the number of consumers and an increase in usage of technological developments such as digital prints, holographs to attract the customers.
The factors which restrain the Functional Drink Packaging market are strict government regulations to avoid the use of plastic usage to reduce the carbon footprint by the manufacturers across the globe, increasing awareness over the sustainability among the people all over the world.
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Functional Drink Packaging Market: Segmentation
The Functional Drink Packaging market is segmented on the basis of the type of material, type of beverages, type of packaging and capacity.
The Functional Drink Packaging market is segmented on the basis of the type of material as
The Functional Drink Packaging market is segmented on the basis of the type of beverages as
- Energy beverages
- Functional Fruit and Vegetable juices
- Sports beverages
- Prebiotic and probiotic drinks
The Functional Drink Packaging market is segmented on the basis of the type of packaging as
- Bottles and Jars
The Functional Drink Packaging market is segmented on the basis of capacity as
- Up to 100 ml
- 100-250 ml
- 250-500 ml
- 500-1000 ml
- 1000-2000 ml
- Above 2000 ml
The Functional Drink Packaging market is segmented on the basis of the channel of distribution as
Functional Drink Packaging Market: Regional Outlook
Over the globe, North America is the largest market share contributor in the Functional Drink Packaging market and is expected to dominate the market during the forecast period. Europe is the second-largest market share contributor and is expected to grow at a slow growth rate since the origin of many key players resides in this particular region.
Asia-Pacific region especially China, Japan, and India are expected to grow at the highest growth rate as the number of consumers has increased over the last few years and increase its market share contribution during the forecast period. Latin America, Middle East & Africa and Oceania are the geographical regions which expected to grow at a moderate rate due to emerging economies and an increase in investments in this particular region.
Functional Drink Packaging Market: Key Players
Some of the key players in Functional Drink Packaging market are Saint-Gobain S.A, Alcoa Corporation, Tetra Laval International S.A., Stora Enso Oyj, Reynolds Group Holdings Ltd., Amcor Limited, Bemis Company, Inc., Sonoco Products Company, Mondi plc, Alcoa Corporation, Crown Holdings Inc, AptarGroup Inc., Ardagh Group Inc., Graham Packaging Company, Owens-Illinois, Inc., Ball Corporation, Tetra Pak International S.A., Allied Glass Containers, CAN-PACK S.A., CKS Packaging, Inc., Pacific Can China Holdings Limited, Graham Packaging Company, CKS Packaging, Inc., Crown Cork & Seal Co Inc. Toyo Seikan Group Holdings Ltd, Rexam PLC, Orora Limited, SIG Combibloc Group AG and Smurfit Kappa Group plc.
Functional Drink Packaging Market: Impact of COVID-19
The Functional Drink Packaging market is expected to get affected severely by the impact of COVID-19 pandemic as all the activities related to sports are halted by governments all over the world. All the international activities such as Olympic, World cup, all Premier leagues are either postponed or canceled due to this pandemic, the Functional Drink Packaging market is expected to slow down to the lowest possible value during the outbreak of a pandemic. However, the Functional Drink Packaging market will grow gradually during the forecast period once the impact of pandemic becomes negligible.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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