Beverage Packaging Market Report by Technavio predicts USD 75.01 Bn growth -- Driven by rising consumption of bottled...

NEW YORK, Sept. 5, 2022 /PRNewswire/ -- The beverage packaging market has grown substantially over the years. To estimate the size of the market, Technavio has tracked the recent trends and developments in the beverage packaging market. The analysts at Technavio have considered various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of the overall scope of the full report.

The report on the beverage packaging market by Technavio expects the market size to increase at a CAGR of 6% and register an incremental growth of USD 75.01 billion between 2020 and 2025. However, the growth forecast could be missed with the market growing slower than expected if the following factors come into play: growing opposition to the use of plastic bottles and the increasing number of campaigns to reduce alcohol consumption.

According to Technavio, the growth of the market is primarily driven by therising consumption of bottled water.

Consumers worldwide are switching to bottled water from other less-healthy packaged drinks. In addition, rising awareness of waterborne diseases and the growing need for clean drinking water have further increased the demand for bottled water. To capitalize on the growing demand, beverage companies are expanding their product offerings through innovative packaging. All these factors are driving the growth of the market.