A keg is a compact, small-sized barrel that is utilized to store items such as chemicals, cooking oil, and drinks (both non-alcoholic and alcoholic). Spirits, wine, cider, and beer are all examples of alcoholic beverages. The major benefit of keeping alcoholic drinks in kegs is that the authentic quality and flavor of the beer is preserved for a number of years. Draught beer is often served from kegs in order to sustain the liquid's pressure. Europe and North America are likely to dominate the global kegs market. The rising demand for alcoholic drinks is projected to influence the global kegs market. This is owing to an increase in the intake of non-alcoholic as well as alcoholic beverages throughout the world. The global kegs market is expected to be dominated by alcoholic drinks in terms of end use.
Because of the rising number of people who drink alcoholic as well as non-alcoholic drinks across the world due to evolving patterns of consumption, better living and expenditure standards, and lifestyles, storage forms such as kegs are in high demand. In addition to that, the large demand for cooking oil in developing countries is being met quickly with the aid of kegs, which is likely to work in favor of the global kegs market in the years to come.
The global kegs market is all set to experience substantial sales avenues during the forecast period of 2020 to 2030. One of the key reasons stimulating market growth is increased use of kegs in storage and transport of diverse liquid products such as cooking oil, alcoholic beverages, non-alcoholic beverages, chemicals, and others. Kegs are small barrels manufactured using diverse types of materials such as tin, plastic, and stainless steel.
An upcoming research report from TMR on the global kegs market provides complete analysis on all important factors influencing the overall market growth. The report covers reliable data on key factors such as revenues, volume, shares, drivers, restraints, key players, and potential growth avenues in the market for kegs. At the same time, it talks about different strategies used by key players to maintain their position in the market for kegs. Thus, the report works as a valuable guide of the global kegs market for the forecast period of 2020 to 2030.
The global kegs market is segmented on the basis of various key factors such as material type, size, end-user, and region.
The global kegs market is growing on the back of plethora of reasons. Kegs are increasingly used in the storage of alcoholic beverages such as beer. The flavor of alcoholic beverages is maintained when it is stored in kegs. As a result, major manufacturers from alcoholic beverages industry are giving preference to use kegs in the storage of their products. Apart from this, kegs are also considered best option for the storage of non-alcoholic beverages. Thus, growing popularity of alcoholic as well as non-alcoholic beverages is indirectly supporting the growth of the global kegs market.
The global population is growing at rapid pace. Therefore, the demand for cooking oil is increasing in the same ratio. As kegs are majorly used in the transport of cooking oil, the increasing demand for cooking oil is positively influencing on the growth of global kegs market. In addition to this, the changing lifestyle, consumption patterns, and overall improved standard of living and spending power of major worldwide people are fueling the growth of the global kegs market.
The global kegs market is moderately fragmented in nature. Presence of many well-established players is a sign of extremely intense competitive landscape in the market for kegs. Enterprises working in the global kegs market are focused on offering products according the need of end-users. They are growing efforts to improve the quality of products they offer.
Many vendors in the global kegs market are engaged in the partnership, collaboration, and merger and acquisition activities to expand their regional presence. Increasing number of activities connote that the vendors working in the global kegs market hold remarkable growth opportunities in the years ahead.
The global kegs market is spread across five key regions, namely, North America, Europe, South America, Asia Pacific, and Middle East and Africa. Of them, Asia Pacific is one of the promising regions of the market for kegs. Key reasons attributed to this growth are increasing population, growing use of alcoholic as well as non-alcoholic beverages, and rising number of breweries and pubs in this region. This aside, the kegs market is expected to gain lucrative avenues in North America in the forthcoming years.
Interested in this report?
Get a FREE Brochure now!
*Get Brochure (PDF) sent to your email within minutes
Complete the form below and we'll get back to you shortly.