Soft Drinks Packaging Market

Soft Drinks Packaging Market - Overview

The global soft drinks packaging market is anticipated to expand at a promising rate from 2021 to 2031. Soft drinks are non-alcoholic beverages that contain carbonated water, flavors, and additives. The emerging trend toward natural and healthy beverages is projected to boost the global soft drinks packaging market during the forecast period.

The global soft drinks packaging market has grown globally over the last few decades as soft drink intake has skyrocketed in emerging economies. The use of soft drinks, mainly functional drinks, has increased as a result of the introduction of a diverse variety of options in these unexplored areas, such as juices, carbonated drinks, energy drinks, flavored water, and sports drinks. Moreover, an increase in people's disposable income is a major factor anticipated to bolster the growth of the global soft drinks packaging market during the forecast period.

Soft Drinks Packaging Market - Competitive Landscape

Leading players in the soft drinks packaging market are Tetra Pak Inc., Amcor Ltd., Bemis Company Inc., CKS Packaging, Inc., CAN-PACK S.A., Graham Packaging Company, Pacific Can China Holdings Limited, and Crown Cork & Seal Co Inc.

The global soft drinks packaging market is extremely competitive due to a huge number of large and small vendors active in the worldwide market. Many new suppliers are entering the market, but they are finding it difficult to compete in terms of services, functionalities, and features with international vendors. The competitive landscape is projected to heat up as technological advancements and product extensions expand.

Soft Drinks Packaging Market - Trends and Opportunities

Numerous factors are expected to assist the expansion of the global soft drinks packaging market during the forecast period. One of the key factors projected to boost the global soft drinks packaging market growth is the rising demand for soft drinks in emerging economies as people's disposable income rises.

Moreover, metal cans currently make up a sizable portion of the overall packaging utilized for soft drinks. Metal cans are favored for packaging carbonated soft drinks due to their lightweight and entirely recyclable nature. Currently, the preference for glass bottles for soft drinks packaging is decreasing due to alternative options such as PET bottles, which are more appropriate for soft drinks packaging. PET bottles are lightweight, which reduces storage and transportation costs, and it is one of the most cost-efficient solutions for soft drink packaging. However, consumer demand for freshly made items may have a negative impact on the growth of the global soft drinks packaging market in the near future.

Soft Drinks Packaging Market - Regional Landscape

The soft drinks packaging market in Asia Pacific is expected to expand during the forecast period. Asia Pacific has a large customer base and many rapidly expanding economies. Nevertheless, since packaging preferences vary greatly from region to region, application-specific solutions are anticipated to bolster the soft drinks packaging market in Asia Pacific. Furthermore, as a result of rising pressure from governments and consumers, manufacturers are currently pursuing sustainable packaging solutions.

Japan is projected to be the largest revenue generator in soft drinks packaging market in Asia Pacific. Consumers in Japan have high spending power. This, in conjunction with the country's older population and the novel functional food labeling system, has generated a market for premium soft drinks, especially those with health claims aimed at an older age.

Moreover, nations like China and India are rapidly urbanizing, with urban populations of 51% and 33%, respectively. Increasing disposable income from urbanization is raising the demand for soft drink products, which is projected to accelerate the growth of the soft drinks packaging market in these regions. As per Red Bull, its sales in India increased by 35% in 2019, and this trend is likely to continue during the forecast period.

North America and Europe are likely to make significant contributions to the global soft drinks packaging market during the forecast period.