Global beverage packaging market to be USD 128,000-mn by 2027

According to the report, the global beverage packaging market will be growing at a value CAGR of 4.1% during the forecast period of 2017-2027. 

The report further tells that PET plastic bottles are set to grow at a significant rate during the forecast period and will contribute to the growth of the global beverage packaging industry. 

And due to this high demand for PET bottles, plastic is expected to lead in the global beverage packaging market making it the fastest growing material segment with an expected CAGR of 5.1% during the forecast period.

On a broader basis, rigid plastics and flexible packaging are gaining more prominence as compared to the other packaging types. 

On the basis of material type, glass is expected to reach a market size of more than USD 53,000-mn by the end of 2027. 

Based on application, the non-alcoholic segment leads the market with an expected market size of over USD 72,000-mn by the end of 2027, growing at a CAGR of 4.9% during the forecast period. 

Among the non-alcoholic beverages, bottled water is expected to gain more traction in the market with a high demand expected to be witnessed during the forecast period. The bottled water market is expected to grow at a CAGR of 6.0% during the forecast period.

Based on product type, liquid cartons segment is projected to grow at a value CAGR of above 4% during the forecast period.

On the basis of region, Asia/Pacific Excluding Japan (APEJ) will be the most attractive region with the highest demand. It is expected to reach a market size of over USD 51,000-mn by the end of 2027, growing at a value CAGR of 5.7% during the forecast period.