The Beverage Packaging Market in Europe is expected to grow at a CAGR of 3.64% to reach USD 7154.04 million by 2028. In the European beverage packaging market, there is a rising trend towards the implementation of smart technologies such as QR codes, NFC, and RFID chips. These advanced features offer consumers engaging and informative experiences, providing valuable product details. Smart packaging also enables monitoring of essential product attributes like pH, temperature, and fermentation to preserve quality. Additionally, it facilitates product authentication and traceability, which is particularly beneficial for premium brands. The adoption of smart packaging is anticipated to expand significantly during the forecast period, revolutionizing the beverage industry.
Europe dominates the regional market because of The European beverage packaging market is projected to witness varying growth rates between Western and Eastern Europe over the forecast period. The maturity of the beverage and packaging industry in Western Europe is expected to result in slower growth compared to the dynamic market expansion in Eastern Europe. Moreover, glass bottles are anticipated to face declining popularity in the Western European market due to intense competition from beverage cans and PET. Conversely, the increasing demand for health-conscious beverages, such as energy drinks and sports drinks, is likely to fuel the growth of the beverage packaging industry. In response, vendors are compelled to innovate captivating packaging designs, shapes, and sizes to captivate consumers.
There are various factors that drive the Beverage Packaging Market in Europe market which are as following: Functional beverages, which include vitamins, herbs, minerals, amino acids, and raw fruits or vegetables, are gaining significant traction in Europe. These beverages, comprising enhanced fruit drinks, ready-to-drink (RTD) teas, sports drinks, energy drinks, enhanced water, and soy drinks, cater to various health concerns and preferences. For instance, 21% of UK consumers express interest in brain-boosting sports or energy drinks, while 24% seek drinks that promote eye health. Amidst the pandemic, stress, anxiety, and sleeping problems have escalated, necessitating functional beverages that enhance focus and aid the body in managing stress and combating fatigue, thereby improving mental performance. Vendors are prioritizing the development and marketing of such products to meet the evolving consumer demands.
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Beverage Packaging Market in Europe Segmentation
The market witnesses several challenges, which are as follows The European Union (EU) has spearheaded initiatives to promote environmental sustainability and boost recycling rates, particularly in the beverage packaging market. However, these well-intentioned efforts have highlighted intricate logistical and economic challenges. Recycling plastic involves several stages: collection, sorting, cleaning, processing, and remanufacturing. The complexity and cost are amplified due to the need to separately process various plastic types, each with unique compositions. The wide range of plastic types used in beverage packaging adds to the recycling complexity and expense.
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Some of the key companies that have been profiled in the report include:
The European beverage packaging market witnesses significant growth, driven by the increasing consumer preference for convenient and sustainable packaging solutions. Key players in this industry focus on innovating eco-friendly materials and designs to cater to the evolving consumer needs. The market is further propelled by the rising demand for functional and on-the-go beverages, particularly in the sectors of soft drinks, dairy, and water. This trend is expected to continue, as European consumers prioritize health and convenience in their daily lives. - The Beverage Packaging Market in Europe is experiencing significant growth, fueled by the Rise in demand for packaging of functional beverages. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
The European beverage packaging market is witnessing significant growth due to the increasing demand for convenient and sustainable packaging solutions. The trend towards recyclable plastics, such as PET and PE, is gaining momentum, with companies like Suntory leading the way in the production of recycled PET bottles and containers. The European Commission's PETRA project aims to increase the use of recycled plastics in beverage packaging, reducing the reliance on fossil-fuel-based virgin plastics. Beverage containers come in various forms, including cups, bottles, and pouches, catering to both on-premise and off-premise consumption. The COVID-19 pandemic and subsequent lockdown restrictions have led to an increase in off-premise consumption and e-commerce, driving up handling costs and transportation for beverage packaging. Lifestyles and per capita income also play a role in the beverage packaging market, with fresh milk and shelf-stable milk requiring different packaging solutions. Alcohol consumption has also influenced the market, with wine and beer often packaged in bottles and cans. The future of the beverage packaging market in Europe looks promising, with a focus on sustainability and innovation driving growth.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
