Europe Beverage Container Market Anticipated to Exceed $54.5 Billion by 2026, Says Global Market Insights Inc.
The growth of the Europe beverage container market is driven by increasing consumer spending on processed beverages, says this report.
SELBYVILLE, Del., June 22, 2020 (Newswire.com) - As per Global Market Insights Inc., the European beverage container market is likely to surpass a valuation of nearly $54.5 billion by 2026, registering a CAGR of 5.5% from 2020 to 2026. The report provides a comprehensive study of the drivers and opportunities, competitive scenario, key investment avenues, overall market estimations and size, top winning strategies, and wavering industry trends.
Technological advancements in the manufacturing sector, together with product innovations and improved aesthetic appeal, are among the key features that are likely to drive the European beverage container market growth. The industry is further driven by key factors such as ease in transportation, convenience in handling, and enhanced product shelf life. Mass customization is further helping the manufacturers in gaining competitive advantage and in enhancing their market share.
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Based on container type, the bottles and jars are likely to contribute a noteworthy share of over 25% by the end of the analysis period. These are mainly produced from glass and PET materials. An increase in recycling rates, superior aesthetics along with no association with the beverage has further shifted the preference of top beverage manufacturers towards glass bottles and jars.
In addition, these containers are vastly used in wine, spirits, and beer. Growing alcoholic beverage exports from countries such as Spain, France, Italy, Germany, and the UK will further augment the segment share over the forecast timeframe.
Key reasons for Europe beverage container market growth:
- Growing product demand in Spain.
- Increasing adoption in the non-alcoholic beverage application.
- Growing demand for plastic packaging across Europe.
2026 forecasts anticipate the ‘non-alcoholic beverages’ application segment to show appreciative growth:
In terms of application, non-alcoholic beverages dominate the industry share based on volume. Growing demand for beverages like juices, bottled water, sports drinks, and dairy due to a shift in consumer preferences will fuel the European beverage containers industry growth. Easily available products through vending machines, big-box retailers, and convenience stores due to the expansion in the retail network and increase in per capita incomes will increase the beverage container market growth.
Spain & France beverage container industry to witness appreciative growth:
Spain is anticipated to grow at a substantial rate over the forecast timeframe. Growing food and beverage production turnover contributing almost 10% to the EU turnover, alongside the increasing production of alcoholic beverages, is boosting the beverage container demand in the region. Furthermore, Spain is among the third largest wine-producing country across the globe with over 4.4 billion liters of production in 2018. It further produced around 3.8 billion liters of beer in the year 2018. Likewise, a positive outlook to produce non-alcoholic beverages because of the launch of innovative beverages in Spain is likely to drive business development.
The beverage container market of France represented over $6.5 billion in 2019. Strong growth in F&B production lead by large beer and wine production capacity is among the main factors that are supporting the beverage containers market growth in the region.
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Leading market players:
The key market players analyzed in the market report include Amcor, Mondi Group, Reynolds Group Holdings Limited, Ardagh Group SA, Ball Corporation, Tetra Pak, Berry Plastics Corporation, Vidrala, Crown Holdings Incorporated, and CCL Industries Incorporated among others.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision-making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company-level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Source: Global Market Insights Inc.