According to the Beverage Packaging Market: Global Industry Analysis from Future Market Insights, the industry is set to exceed US$128 million by the end of 2027, with a CAGR of 4.1 percent.
PET plastic bottles play a significant role in the industry's growth, being in high demand as a rigid but flexible form of plastic packaging.
A 37.3 percent share of the global packaging market is expected to come from the Asia Pacific region.
Market growth can also be attributed to the increase in smart technologies in packagings, such as mobile scanning QR codes, smart labels and other information embedded directly into the package. Customers are also seeking more convenient and sustainable packaging options.
Liquid cartons still hold the largest market share for the type of packaging, with 35.5 percent. They allow drinks to remain fresh for longer periods of time.
Bonito Packaging from Dongguan, China, TIPA from Hod Hasharon, Israel, and Green Creative from Sucy-en-brie, France, are all start-up companies to keep an eye on.
