Nordic Beverage Packaging Market: Overview
Nordic beverage packaging offers protection of beverages from chemical deterioration and leakage. Additionally, it aids in enhancing the shelf life of the product. This has led to an increase in popularity of these packaging solutions in the beverage manufacturing industry. The Nordic beverage packaging market is expected to grow leaps and bounds during the forecast period owing to a rise in demand for carbonated drinks.
Nordic Beverage Packaging Market: Notable Developments
Below are a few notable developments in the Nordic beverage packaging market:
- Plant based PET bottles is one of the most significant innovations in the beverage packaging industry. Coca-Cola’s has developed a beverage packaging solution called PlantBottle made from thirty percent sugarcane based materials. It offers reduced carbon emissions as there dependency of petroleum based PET. Along with Coca-Cola PepsiCo has also launched 100% plant based packaging solution. These developments have played a key role in strengthening the growth ground of Nordic beverage packaging market.
- Development of soft pouch packaging has served as a major landmark in beverage packaging market. This type of packaging is lightweight and requires minimal material for manufacturing, thereby reducing the carbon footprint. Additionally, these pouches offer protection against drink spiking. Moreover, the compact packaging makes it easy to carry. Soft pouch packaging is gradually entering the alcoholic beverages packaging industry, thereby presenting several growth opportunities for the Nordic beverages packaging market.
Key players in the Nordic beverage packaging market include Amcor Limited, Reynolds Group Holdings Limited, Sonoco Products Company, Danish Bottling Company A/S, and Bemis Company.
Nordic Beverage Packaging Market: Key Growth Dynamics
There is a rise in demand for recyclable beverage packaging solutions in Nordic regions owing to the regulations laid down by the Nordic governments pertaining to reduction of landfills. This resulted in an increase in production of recyclable beverage packaging solution leading to a surge in the Nordic beverage packaging market. Additionally, an expansion in the beverage manufacturing industry has contributed to the market’s expansion in the Nordic region.
Furthermore, rising emphasis on sustainable packaging solutions owing to a rise in consumer awareness has highly driven the Nordic beverage market’s growth. Along with this, high demand for PET bottles for the packaging of fresh juices and brew coffee has expedited the market’s expansion. PET bottles offer an enhanced shelf appeal and are highly cost-effective.
In recent times, there is a rise in the development of smart packaging solutions due to an increase in level of counterfeit beverages. As result manufactures are increasingly developing bottles with smart tags in order to provide information regarding the contents in the beverage. This has impacted the Nordic beverage packaging market positively, thereby creating new growth avenues.
On the downside, there are a few hindrances that may cause a shortfall in the Nordic beverage packaging market. Factors such as lack of raw materials in the remote areas may hamper the market’s growth. However, initiatives taken by Nordic governments to promote the adoption of sustainable beverage packaging may present several growth opportunities for the Nordic beverage packaging market.
Nordic Beverage Packaging Market: Regional Outlook
Regionally, Sweden accounts for the highest share in the Nordic beverage packaging market. This is on account of surge in production of alcoholic and non-alcoholic beverages in this region. Additionally, high prevalence of microbreweries has contributed to the market’s growth in this region. Iceland is expected to show a substantial growth during the forecast period owing to a high consumption of beverages.
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
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
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.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
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.
4. Strategic Frameworks
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?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.