Soft Drinks Packaging – Market Overview
Over the past few decades, the soft drinks packaging industry is growing across the globe due to increases in the consumption of soft drinks in developing countries. The consumption of soft drinks, primarily functional drinks, has amplified owing to the starter of a broad range of option in these untapped markets such as carbonated drinks, juices, energy drinks, sports drinks, flavoured water and a rise in disposable income of the people. The major type of materials and components included in the soft drinks packaging are rigid plastic, flexible plastic, paper and board, glass, rigid metal, closures, and labels. Soft drinks available in the different categories smaller on the go packs and larger family packs, the demand of the small on the go soft drinks is high as compared to the larger family pack. Soft drinks packaging is expected to register sluggish growth due to the adoption of health and wellness products by consumers. Various types of packaging options available in the soft drink packaging market, they are bottles, pouches, cartons, cans, and others.
Soft Drinks Packaging - Market Dynamics
There are several factors which contribute to the growth of the soft drinks packaging market. One of the significant factors which participate in the growth of the soft drinks packaging market is increasing demand for the soft drink in the developing countries due to increases in the disposable income of the persons. Metal cans and currently account for a significant share of the total packaging types used for packaging of soft drinks. Metal cans are preferred for the packaging of carbonated soft drinks because of the lightweight and fully recyclable nature. Nowadays, inclination towards the glass bottle for the packaging of soft drinks is reduced because of its alternative options such as PET bottle, which is more compatible for the packaging of the soft drinks. PET bottles are lighter, so it saves the transportation and storage cost, and it is one of the best cost-saving options for the packaging of soft drinks so these are the several reasons for the popularity of PET bottles. The consumer preference towards the freshly prepared products may affect the stagnant growth of the soft drinks packaging market in near future.
Soft Drinks Packaging - Market Segmentation
The soft drinks packaging market is segmented on the basis of material, product type, capacity, and application.
On the basis of material, the soft drinks packaging market is segmented into –
On the basis of product type, the soft drinks packaging market is segmented into –
On the basis of capacity, the soft drinks packaging market is segmented into –
- Up to 100 ml
- 100 to 250 ml
- 250 to 500 ml
- 500 to 1000 ml
- 1000 to 2000 ml
- Above 2000 ml
On the basis of application, the soft drinks packaging market is segmented into –
- Carbonated soft drinks
- Functional Drinks
- Sport Drinks
- Energy Drinks
Soft Drinks Packaging Market - Regional outlook
Soft drinks packaging market has been segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. Among these regions, North America and Asia Pacific are expected to collectively dominate the market throughout the forecast period. Latin America and Middle East & Africa are expected to witness sluggish growth during the forecast period. Amongst North America, Europe, and Asia Pacific, Europe is expected to create maximum incremental opportunities in terms of revenue for companies involved in the soft drinks packaging market. However, China and India based soft drinks manufacturers are focusing on creating value-added products that meet consumer desires for flavourful, functional and healthy products.
Soft Drinks Packaging Market - Key players
Few of the key players identified across the globe in the soft drinks packaging market are Amcor Ltd., Pacific Can China Holdings Limited, CAN-PACK S.A., Tetra Pak Inc., Graham Packaging Company, Bemis Company Inc., CKS Packaging, Inc., Crown Cork & Seal Co Inc. etc.
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.
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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.
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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?
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