Soft Drinks Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2Posted by Statzy Market Research on April 30th, 2021 Soft drinks are generally non-alcoholic beverage drinks, which contain carbonated air, added flavors, and ingredients. The new trend toward healthy and natural content drinks is gaining the market share. - Consumers prefer healthy products with multiple flavors options into the product. Keeping this in mind, the companies are launching more products to meet these demands. Hence, creating more opportunities for the packaging market of such products. - The economies of developing countries, like China and India, are growing, which is creating an increase in disposable income across the population. Consumers are now demanding more of ready-to-use packaged drinks. - However, stringent government restrictions over the use of non-biodegradable plastics are restricting the companies on other eco-friendly packaging materials. These products are limiting the profit margin due to higher costs, ultimately affecting the overall soft drink packaging market. - Lock down mesures across the globe due to Covid-19 pandemic situation has lead to significant supply chain disruptions and shrink disposable income of consumers .New health and wellness priorities in the post Covid era and sharp recessionary effects will certainly affect carbonated soft drink Industry. For sample report please visit : https://www.statzyreports.com/report/sr499107/soft-drinks-packaging-market Key Market Trends - However, the market is expected to face challenges due to government regulations and consumer demand pushing manufacturers to look for packaging solutions that are biodegradable or derived from sustainable sources. - Furthermore, a significant amount of plastic products are being recycled and reused in recent years. Also, the variety of plastics available for packagings, such as PVC, PE, PP, PS, PET, and nylon, are one of the reasons contributing to the market share of this segment. - Coca-Cola revealed that it uses three million metric ton of plastics annually . Hence, with the average weight of 10 grams a bottle, it employed 300 million plastic bottles in that year. Even though the sales of carbonated drinks is toward the declining trend, the use of plastic for other soft drinks offered by different players has multiplied over the years. - Polyethylene terephthalate (PET) bottles are expected to witness steady demand from consumers during the forecast period. - Japanese consumers have the highest per capita spending power in Asia. This, combined with the growing size of its aging population and the new functional food labeling system, has created an opportunity for premium functional soft drinks products, particularly those with health claims targeting an older demographic. - According to Red Bull, in 2019 , its sales grew by 37% in India and this trend is expected to continue in the forecasted period, 2020-2025. - Countries, like India and China, are showing rapid urbanization, and currently, with 33% and 51% urban population, respectively. With the urbanization, growing disposable income is creating demand for soft drink products, and hence, affecting the soft drinks packaging market. - Mar 2019 - Amcor Limited acquired its rival Bemis Company Inc. By combining these two market leaders, Amcor aims to create a stronger value proposition for shareholders, customers, employees, and the environment. For sample report please visit : https://www.statzyreports.com/report/sr499107/soft-drinks-packaging-market Contact Us: Like it? Share it!More by this author |