Overview of the fruit juice packaging market
According to the analysts at Technavio, the global fruit juice packaging market will witness steady growth and will post a CAGR of more 3% over the forecast period. An increasing demand for single-serve packs is one the key factors driving the growth of this market in the coming years. The rising number of single-person households has led to an augmented demand for single serve packs in many consumer products that are categorized under mass consumption brands. Moreover, the preference for single serve packs fuel opportunities switching brands, as consumers are not committed to consuming large volumes at a time but rather buy products regularly. Additionally, most merchants opt for packaged products that occupy less shelf space. They also prefer attractive packaging to increase shelf presence which will eventually lead to an increase in sales.
The increasing adoption of environment-friendly products is an emerging trend spurring this market’s growth prospects over the forecast period. Carton is biodegradable and requires less time to degrade completely when compared with other packaging materials. It is estimated that cartons degrade completely in five years under natural conditions, which is significantly faster than metal cans, which take close to 500 years and PET bottles, which take an estimated 30,000 years to degrade. Moreover, most governments are encouraging the use of environmentally friendly materials and are providing subsidies or exemption of tax. For instance, Weyerhaeuser, the largest owner of timberland, is encouraging and supporting recycling. The increasing adoption of eco-friendly products will contribute to the growth of this market until the end of 2020.
Segmentation by packaging type and analysis of the fruit juice packaging market
- Carton packaging
- Plastic packaging
- Glass packaging
During 2015, the carton packaging segment led the market and accounted for more than 54% of the market share in terms of revenue. Factors such as the increasing use of eco-friendly packaging material will aid in the growth of this market segment in the coming years.
Geographical segmentation and analysis of the fruit juice packaging market
In terms of geography, EMEA dominated the global fruit juice packaging market and is expected to reach more than USD 2 billion by 2020. The increasing consumption of fruit juice and stringent environment laws in countries like Germany, France, and the UK will aid the growth of this market in this region.
Competitive landscape and key vendors
The global fruit juice packaging market is highly competitive owing to the presence of several well-diversified international and local suppliers. The prominent international players are increasing their global footprint which is posing a problem for the domestic suppliers. The competitive environment is expected to intensify with an increase in product extensions, innovations in technology, an increase in product extensions, and M&A.
Key vendors in this market are -
- Amcor
- Ball
- Bemis
- Crown Holdings
- Smurfit Kappa
- Tetra Laval
Other prominent vendors analyzed in this report are Ardagh Group, Can-Pack, CCL Industries, CKS Packaging, DS Smith, Evergreen Packaging, Genpak, International Paper, MeadWestvaco, Mondi Group, Owens-Illinois, Plastipak Packaging, Printpack, Silgan Holdings, Sonoco Products, and Stora Enso.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global fruit juice packaging market?
- What are the key market trends impacting the growth of the global fruit juice packaging market?
- What are the challenges to market growth?
- Who are the key vendors in global fruit juice packaging market?
- What are the market opportunities and threats faced by the vendors in the global fruit juice packaging market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of global fruit juice packaging market?
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