Beverage Packaging Market in Europe growing
The new report on the Beverage Packaging Market in Europe 2017-2021 covers detailed analysis, competitive landscape, forecast and strategies, highlighting the latest trend of lightweight packaging.
A new research document with title ‘Beverage Packaging Market in Europe 2017-2021, covering detailed analysis, competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions such as UK, Germany, France, Italy, Netherlands and important players/vendors including Amcor, Ball, Crown Holdings, and Owens-Illinois, Allied Glass Containers, AptarGroup, Ardagh, Can-Pack, etc. The report will help user gain market insights, future trends and growth prospects for the forecast period of 2017-2021.
HTF recognizes the following companies as the key players in the beverage packaging market in Europe: Amcor, Ball, Crown Holdings, and Owens-Illinois
Other Prominent Vendors in the market are: Allied Glass Containers, AptarGroup, Ardagh, Can-Pack, CCL Industries, CKS Packaging, Mondi Group, Plastipak Holdings, Inc., Printpack, Promens, Saint-Gobain, Silgan Holdings, and Sonoco.
Research analysts forecast the beverage packaging market in Europe to grow at a CAGR of 4.19% during the period 2017-2021
Commenting on the report, an analyst from HTF’s team said: “The latest trend gaining momentum in the market is Innovation of lightweight packaging. Lightweight packaging is one of the major trends in the beverage packaging industry in Europe as it helps vendors in reducing the cost of transportation of the products. Beverage manufacturers are also reducing the packaging weight for promoting environmental sustainability and reducing costs across the supply chain. The first way of reducing the weight of packaging is replacing the packaging material already in use with a lighter weight alternative. For instance, Bonfire Wines packages its wine in pouches rather than bottles and has a carbon footprint 70%-80% less than that of bottles. In addition, the pouches store double the amount of wine than bottles.”
According to the report, one of the major drivers for this market is Rise in demand for packaging of functional beverages. Functional beverages include ingredients like vitamins, herbs, minerals, amino acids, as well as raw fruits or vegetables. Beverages, such as sports drinks, ready-to-drink (RTD) teas, energy drinks, enhanced water, enhanced fruit drinks, and soy drinks are functional beverages, and their demand has increased multiple-folds in Europe. The UK dominated the market share of energy drinks in Europe by more than 25% in 2016, which is expected to grow further during the forecast period. Also, the Eastern and Western European sports drink category is growing at a rate of 8%-10% annually, with the UK dominating the market every year.
Further, the report states that one of the major factors hindering the growth of this market is Rise in raw material prices. The rise in the prices of raw materials is a major challenge for the beverage packaging market in Europe. The raw materials used for beverage packaging are plastic, metal, and paper. The increase in the prices of these materials affects the manufacturing cost of packaging, in turn, increasing the overall cost of the product. For instance, Sappi, a pulp and paper industry, increased its prices of all European coated as well as uncoated fine papers by 6%-10% in March 2017. The prices were increased for both reels and sheets of paper. This sharp increase in the price is leading to a rise in input costs, thereby shrinking the profit margins of the vendors. In addition, Sonoco, a global provider of packaging products, increased its recycled paperboard prices by around USD 60 per ton in Europe in July 2017. Therefore, the vendors have no other option than passing this increase in price through the markets, which, in turn, increases the beverage cost.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.