Soft Drink Packaging Market Trends

Soft Drinks Packaging Market Overview

Soft Drinks Packaging Market Size was valued at USD 14,893.1 million in 2023. The Soft Drinks Packaging industry is projected to grow from USD 15,593.0 million in 2024 to USD 23,369.0 million by 2032, exhibiting a compound annual growth rate (CAGR) of 5.2% during the forecast period (2024 - 2032). A soft drink is generally a non-alcoholic beverage that consists of various flavors and other ingredients. It primarily provides help in body needs like hydration, sugars or calories, nutrients, vitamins, and many others, based on its ingredients followed by its vitamins and minerals.

Soft drinks are consumed by people of all age groups. These drinks are available in the market in a variety of options such as juices, flavored water, energy drinks, and many others. Since soft drinks are known to be ready-to-consume products. These are available in the right quality and for the same, proper packaging is imperative for keeping the product in perfect condition. Therefore, the act of packaging plays an important role as it provides detailed information about the product content, constituting ingredients, and manufacturing, and other important facts like the expiry dates.

August 2023: Ball Corporation unveils a new aluminum can design with a thinner, lighter body while maintaining strength. This innovation promises to reduce material usage and environmental impact without compromising product integritySeptember 2023: Several major beverage companies, including PepsiCo, announce partnerships with paper bottle manufacturers. This indicates a potential shift towards paper-based packaging solutions for the soft drinks market, driven by concerns over plastic waste

Competitive Landscape

The soft drinks packaging industry has been witnessing trends that support its expansion and rise especially during the ongoing forecast period that will be ending in 2028. The global soft drink packaging market is witnessing an advent in competition because of the recent developments that have been undertaken by the following market players:

• Amcor Ltd. (Australia)


• Mondi Group (South Africa)


• Crown Holdings, Inc. (U.S.)


• CKS Packaging, Inc. (U.S.)


• AptarGroup Inc.(U.S.)


• CAN-PACK S.A. (Poland)


• Ardagh Group Inc. (Luxembourg)


• Bemis Company Inc.(U.S.)

Segmentation: Global Soft Drinks Packaging Market

Soft Drinks Packaging Market Dynamics

Drivers

Many factors can be held liable for the enhancement of the soft drink packaging market size. One of the most prominent reasons that have affected the growth of the soft drinks packaging market is the growth of demand by the growing population in the global market premises. In the last few years, as a part of the historic forecast period, the global market for soft drinks packaging is increasing continuously due to the high demand for soft drinks in developing countries mainly due to a rise in disposable income among individuals. There has been a huge change in lifestyle and the rapid degree of growth of the youth population is also a considerable driving factor for the growth of the market. Today, the target audience is becoming more conscious about their health, and hence, they prefer soft drinks instead of alcohol-based or hard drinks. Therefore, soft drinks have become a convenient alternative available to alcoholic beverages which are also contributing to the market growth substantially. The rising degree of innovation in operational activity and increasing urbanization in developing countries is also augmenting the demand for soft drinks during the ongoing forecast period that ends in 2032.

Restraints

However, the soft drink packaging market size during the forecast period that ends in 2018 is home to market issues, and witnessing the birth of stringent government restrictions over the use of non-biodegradable plastics are restricting the companies on other eco-friendly packaging materials. These market products are likely to be possessing the ability to be limiting the profit margin due to higher costs, ultimately affecting the overall soft drink packaging market and hence, restraining it from growing during the ongoing forecast period that will be ending in 2028. However, the global market chiefs and experts suggest that the market is likely to soar high on investments that will help the market opt for portfolios and developments to help the market grow during the period that will be ending in 2028.

Technology Analysis

These are factors that are driving the demand for ready-to-eat snacks during the ongoing period that will be ending in 2028. There has been a rise in busy lifestyles, followed by the aging population, and increasing awareness about nutritional value, safety, variety, and product appeal. Soft drinks are witnessing a hiked demand from millennials and hence, there has been a need for easy and comfortable packaging solutions in the global market premises for various consumer groups. For example, the relevant market trends suggest that nearly 80% of consumers look for the best value products that are available to the target audience that is spread in a series of global market locations especially during the ongoing period of 2032.

Soft Drinks Packaging Market Segment Overview

The global soft drink packaging market share has been anticipated to be increasing in the global market premises during the forecast period that ends in 2028. The global market has been segmented based on the heads like material, packaging type, application, size, and others like region.

Based on the material

The soft drink packaging market has been segmented based on the material and includes glass, plastic, metal, paperboard, and others. Among all, the segment for plastic packaging has anticipated being landed the highest market share because of its cost-efficiency.

Based on the packaging type

The soft drink packaging market has been segmented based on the packaging type and includes others like boxes, bottles, cartons, cans, and others.

Regional Analysis

Based on the regional segmentation of the soft drinks packaging market value, the global market has been segmented in regions like North America, Europe, Asia Pacific, and the Rest of the World. In 2017, about 202,400 million liters of soft drinks were sold only in the Asian Pacific region that is home to countries like India, China, Japan, Korea, and others. The driving factor of the increasing market size in the Asian Pacific region is witnessing an increase in the growth of the overall population and the population of youth in this region, which results in a wide degree of expansion in the huge customer base. Another reason for the growing soft drink market is the fast-growing economies in the global market premises. China is emerging as a leading country in the Asia Pacific because of its high population. There is a very high demand for soft drinks in countries like Argentina because of warm climatic conditions and higher incomes.

Recent Developments

Bowling Green, KY, LinkOwens-Illinois Inc. announced the creation of a greenfield glass plant in July 2022. This is in line with strong consumer trends toward healthy, recyclable, and sustainable food and beverage packaging. The company is planning to spend up to $240 million on several expansion phases over time that will create about one hundred and forty more jobs in the area.

In December 2022, Amcor collaborated with Licella Holdings to build one of Australia's first advanced plastic recycling facilities, and this agreement supports Amcor and Licella's commitment to establishing a circular economy for soft plastics locally in Australia as well as aid Amcor realize its objective of 30% recycled content across its portfolio by 2030.

In February 2024, Owens-Illinois, Inc. introduced an innovative carbon-light glass wine bottle.

South Africa saw the launch of the first tethered cap carton by Nampak Liquid Cartons & Woodlands Dairy in May 2024.

Toyo Seikan developed and started mass production of Japan’s lightest aluminum can body, contributing to further reduction of greenhouse gas emissions in March 2024.

New York Crown Holdings acquired Helvetia Packaging AG, a Saarlouis-based manufacturing facility that specializes in beverage cans and ends, in August 2023. This transaction aims to increase the European beverage can platform by almost one billion units per year.

TricorBraun acquired CanSource – an important supplier of can packaging worldwide during this month of August 2023. TricorBraun will achieve its sectoral consolidation within the North American beverage packaging market through this strategic move and strengthen its activities pertaining to beverages packaging.

Ball Corporation launched a new recyclable aluminum can in August 2023 which is lighter and much stiffer than conventional cans and which will result in a 10% reduction in carbon emissions.

Report Overview

The soft drink packaging market report covers various market aspects and aims to conduct an in-depth market analysis to understand the patterns for growth and expansion during the forecast period that will be ending in 2028. The report helps in understanding the impact of the pandemic outbreak on the market and the steps that have been undertaken to solve the impact and improve the condition of the market.