Identification of key drivers, restraints, opportunities, and challenges (DROC) in North America Beverage Packaging Market and their impact on shifting market dynamics
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According to the report “North America Beverage Packaging Market By Type (Bottle, Can, Pouch, Carton), Material (Glass, Plastic, Metal, Paperboard), Application (Alcoholic, Non-Alcoholic, Dairy), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016-2021)” published by Market Data Forecast, the North America Beverage Packaging Market was worth USD 21.47 billion in 2016 and is estimated to be growing at a CAGR of 4.31%, to reach USD 26.51 billion by 2021.
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The market contains evident potential in the mentioned forecasting period. Beverage packaging is done to safeguard the ingredients in a container whether it is of glass, metal, plastic, or paperboard.
Their use in day-to-day life drives opportunities in the North America beverage packaging market.
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Beverage packaging comes in different packaging materials; they could either be glass, metal, plastic or paperboard. Every material has its different economies of scale and ease of access which drives the production.
Packaging is an effective way to communicate with the customers as they are the face of companies and packaging differentiates a particular product from its competitors.
The market is driven by the changing lifestyles in the North America region. In the recent times, the on-the-go consumption has increased in the US and Canada.
This is a main reason for the growth of the Beverage packaging market in this region. United States and Canada have high disposable income thus making North America a profitable market for the beverage packaging industry.
Much technological advancement are made in the field of beverage packaging which aids in the development of innovative, cost-effective and environment friendly products.
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The North America Beverage Packaging market is broadly categorized into Type (Bottle, Can, Pouch, Carton), Material (Glass, Plastic, Metal, Paperboard), and Application (Alcoholic, Non-Alcoholic, Dairy). Plastic packaging accounted for the largest share of the Beverage Packaging industry and is projected to witness tremendous growth rate during the forecast period.
Based on geography, the North America market is analyzed under various regions namely USA and Canada. The beverage packaging market was dominated by USA, with the largest share in the region.
USA was followed by Canada. Canada is predicted to grow at a rapid pace in the coming few years.
Some of the key players of North America Beverage Packaging market are:
There are many large players in the industry which pushes the market upwards.
- Saint-Gobain S.A.
- Reynolds Group Holdings Limited
- Stora Enso Oyj
- Owens-Illinois, Inc.
- Rexam PLC
- Tetra Laval International S.A.
- Amcor Limited
- Mondi PLC
- Ball Corporation Alcoa Inc.
- Crown Holdings, Inc.
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