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The Asia Pacific Beverage Multipack Market is seeing concurrent trace being influenced by mixed considerations that encompass economic, demographic and consumer behavior issues. Asia pacific, which is among top a triple-digit expanding markets in the world especially for beverage multipack manufacturers looking at capturing the growing demand for convenience and affordability, has become one of the main focus for these companies. The area specific concerns of the consumers is the byproduct of the different and changing tastes of different consumer across various countries.
The growing middle class in the China and India serves as one of the impetuses of the global automatic transmission market. With an increase of incomes, consumers are more than willing to buy beverage options that suit their lifestyle and faces the fewest obstacles in terms of accessibility and prices. To meet the need of college students who value convenience and affordability, beverage multipacks, which offer a supply for an individual serving from every pack, has been created. Thus, this trend goes especially in an urban area, where fast-paced lifestyle while experience hectic nature feeds on the need of take-away and portion-controlled packaging.
On one hand, the Asia Pacific is a region where cultural diversity reigns supreme and this influences the way the region market works. The beverage preferences are different in every country hence they have a preference to be packaged in different styles and in different sizes. Local tastes and preferences are constantly changing, manufacturers need to modify their offerings based on the requirements of the consumer who is beyond country boundaries. For example, in terms of condensed drinks, even though they are still popular in some markets, other trends are towards more healthy options like carbonated water which is bottled or juices of fruit. The diversity of selling markets in this region poses both difficulties and potential chance for multipack beverage makers seeking to create a dominant position in the region.
On-line trading has created a strong current with As-Pac as a driver in the beverage multipacks market. The emergence of the internet shopping platforms has indeed changed consumer buying behaviors, making it easy for them to order many goods including beverages by use of the e-commerce tool of buying online from one home. Therewith, producer have to center on the effective packing solutions which are not only breathtaking on the shelves of physical stores responding to the needs of the online retailing but are also safe and sound in the transport service.
Asia Pacific Beverage Multipacks Market Highlights:
Asia Pacific Beverage Multipacks Market Overview
Asia Pacific Beverage Multipacks Market Size was valued at USD 3.5 Billion in 2022. The beverage multipacks industry is projected to grow from USD 3.7 Billion in 2023 to USD 6.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2023 - 2032). The key market drivers boosting the growth of the beverages multipacks market include rising demand for ready-to-drink alternatives including improved water, organic juices, and functional drinks, as well as rising consumption of carbonated soft drinks and alcoholic and non-alcoholic beverages.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Beverage Multipacks Market Trends
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Rising consumption of beer in various countries to accelerate market growth
The recent past has seen an exponential increase in the use of beer. With over 20 million individuals reaching legal drinking age each year, India continues to be one of the biggest beer markets. Additionally, the newest Kingfisher Instant Beer has been revealed by United Breweries, the most well-known beer manufacturer in India and the maker of the well-known Kingfisher brand. The product comes in a box with two sachets inside. Furthermore, the glass bottle with a crown closure is the traditional beer packaging material in the area. Since glass is widely used in the region to package alcohol, demand is anticipated to rise over the course of the projection period. The volatility in crude oil prices affects the alcohol industries' margin profile, which is heavily influenced by glass pricing. In addition, customers in this area are gravitating more and more toward gluten-free beers. Moreover, beer consumption is increasing at a rate of over 6% annually in China, India, and Vietnam. As a result, the increased creativity in flavors and preparations is probably going to fuel consumer demand for beer and accelerate the expansion of beer cans. As a result, it is projected that during the forecast period, this will increase the beverage multipacks market's CAGR.
Moreover, the beverage industry in the area is seeing a rise in demand for fruit pulp, juices, and other concentrates, as well as sauces and ketchup bottles. Furthermore, the market has grown due in large part to the growing demand for drinks in the region, which has been fueled by a variety of health beverages, milk products, beer, and liquors. Additionally, the top beverage producers in India export a range of goods, including coffee and tea, to international markets every year. In FY 2019, India's beverage manufacturing industry brought in USD 10.94 billion, according to a survey conducted by the Ministry of Statistics and Program Implementation (MOSPI). By 2023, it's predicted to hit USD 11.69 billion. As an example, the beverage industry's packaging solution, Asepto Eye, was introduced by UFlex Limited, the largest international provider of flexible packaging materials and solutions in India. Asepto's latest product, which continues the inventive path that the business has always followed, brings aseptic packing a fresh lease on life due to its excellent packaging. Thus, driving the beverage multipacks market revenue.
Beverage Multipacks Market Segment Insights
Beverage Multipacks Pack Type Insights
The Asia Pacific Beverage Multipacks market segmentation, based on pack type includes standard, variety pack and seasonal/promotional. The variety pack category led the market in 2022. These multipacks are made to give customers a number of choices in a single, easy-to-purchase package. Customers who prefer to sample various tastes or varieties of beverages without committing to a full-sized container of each find them to be popular. In order to accommodate a wide range of consumer preferences, variety packs are widely used in markets for soda, juice, energy drinks, and even alcoholic beverages.
Beverage Multipacks Beverage Type Insights
The Asia Pacific Beverage Multipacks market segmentation, based on beverage type, includes alcoholic and non-alcoholic. The non-alcoholic category generated the most income. Beverages of many kinds, including energy drinks, bottled water, soft drinks, juices, iced tea, and more, can fall under this category. Because people are becoming more health conscious and looking for alternatives to alcohol, the popularity of non-alcoholic beverages has been rising. In this category, beverage multipacks provide consumers easy ways to buy multiple non-alcoholic drinks in one packaging.
Figure 1: Asia Pacific Beverage Multipacks Market, by Beverage Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Beverage Multipacks Distribution Channel Insights
The Asia Pacific Beverage Multipacks market segmentation, based on distribution channel, includes grocery store, convenience store, supermarket, hypermarket, online store and others (club, pharmacy, etc.). The online stores category generated the most income. The growth of the beverage multipack market is being aided by the expansion of the number of online distribution channels available. Growing potential for manufacturers are also being brought about by the increase in demand for beverages through online channels. Important participants in the packaging sector are working together with medium- and small-sized businesses as well as large beverage producers to create a packaging portfolio appropriate for e-commerce platforms.
Beverage Multipacks Regional Insights
During the projection period, it is expected that Asia Pacific would have a significant market share for beverage multipacks. A number of reasons are driving market development in the region, including rapid industrialization, urbanization, an increase in the younger population, and higher disposable income of consumers. The region's beverage consumption is rising quickly. This increases Asia Pacific's need for beverage packaging solutions. Additionally, the food and beverage sectors are the main drivers of the growth of the beverage multipacks market in India. Retail accounts for 70% of the food and grocery market in India, which is the sixth largest in the world, according to IBEF. Moreover, the middle-class consumer base's increased purchasing power, organized retail's explosive growth, and exports all contribute to the market's expansion. Standardized packaging is now required in order to maintain manufacturing speed, extend shelf life, and guarantee quality all at once.
Figure 2: ASIA PACIFIC BEVERAGE MULTIPACKS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Beverage Multipacks Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the beverage multipacks market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, beverage multipacks industry must offer cost-effective items.
Key Companies in the beverage multipacks market include
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Parekhplast India Limited
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Crown Holdings, Inc.
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Uflex Ltd
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Haldyn Glass Limited
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Rexam plc
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Piramal Glass Private Limited
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HSIL Group
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Amcor plc
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Hindustan National Glass & Industries Ltd (HNGIL)
Beverage Multipacks Market Segmentation
Beverage Multipacks Pack Type Outlook
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Standard
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Variety Pack
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Seasonal/Promotional
Beverage Multipacks Beverage Type Outlook
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Alcoholic
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Non-alcoholic
Beverage Multipacks Distribution Channel Outlook
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Grocery Store
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Convenience Store
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Supermarket
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Hypermarket
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Online Store
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Others (club, pharmacy, etc.)
Beverage Multipacks Regional Outlook
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Indonesia
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Thailand
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Vietnam
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Malaysia
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Singapore
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Rest of Asia-Pacific
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