Beverage Packaging Market Poised for Growth
The beverage packaging market is predicted to grow in the next decade at a fairly steady pace, according to a recent report from London-based research firm visiongain. Global growth will be modest due to the financial and geopolitical climate. Commodity pricing will decrease due to the Chinese economy slowing down which will have a big impact on the worldwide production.
However, given the current geopolitical tensions around the world, the GDP growth will remain modest but stable over the next few years. Still, there are many factors weighing on the development of beverage packaging technologies and their growth trajectory.
The growing population, economic development of emerging economies, a shift from the commodity driven economies to consumer driven economies, worldwide sustainability concerns and other factors will play into the advancements in the market.
One major factor is the lower crude oil prices seen in recent years, which are contributing to higher profits by manufacturers of plastic packaging materials.
Additionally, the lifestyle of consumers is shifting towards convenience, indicating the trend towards a single or portion based packaging in lieu of standard packaging.
Visiongain is also projecting that the beverage packaging market will generate revenues of $112.4 billion in 2016.
The report provides profiles of eight major players operating within the market, such as Amcor, Alpa, Reynolds Group Holdings and others.
Soure01 (The K Portal)
