Valued at $152.7 billion in 2022, the beverage packaging market is predicted to witness an over 5.7% Compound Annual Growth Rate (CAGR) from 2023 to 2032. The fundamental driving forces behind this growth include changing consumer preferences towards eco-friendly options, the rise of convenient beverages, and the need for innovative packaging solutions.
Sustainability and market demand are no longer mutually exclusive. A report from Grand View Research revealed that the global sustainable packaging market size was valued at $228.79 billion in 2019 and is expected to grow at a CAGR of 5.1% from 2020 to 2027. These numbers signal a dynamic sector on the rise and underscore the increasing consumer demand for eco-friendly products.
Sustainable packaging has become an integral part of brand identity and marketing strategies. Firms are channeling investments toward state-of-the-art technologies and materials, seamlessly blending cost-efficiency with sustainability. Additionally, beverage packaging is subject to many regulations regarding food safety, labeling, recycling, and material composition, influencing market expansion.
The recent COVID-19 pandemic has changed how beverages are consumed, leading to a spike in demand for retail-ready and single-serve packaging. As the effects of the pandemic wane and recovery strategies are implemented, the market is expected to experience further growth.
We have developed sustainable food packaging material using avocado pruning residues. This innovative material addresses the environmental challenges of plastic packaging by integrating cellulose fibers extracted from avocado leaves and branches into a durable, eco-friendly prototype.
Spain, a leading avocado producer, generates substantial pruning residues previously considered waste. The new material partially replaces biopolyethylene, a plant-based but non-biodegradable bioplastic, and has shown a 49% increase in tensile strength over traditional packaging. Future research will focus on adding antimicrobial and antioxidant properties to enhance sustainability and versatility.
Glass packaging is gaining substantial traction owing to its premium image and recyclability. Bottles, a popular solution, offer ease of use and portability, making them perfect for on-the-go consumption. Non-alcoholic beverages dominate the market and drive the demand for convenient packaging formats, including bottles, cans, pouches, and cartons.
In April 2024, at the NCAA Men’s & Women’s Final Four tournament venues, the Coca-Cola Company announced its commitment to energizing fans while ensuring sustainable beverage packaging. The company pledged to recycle all collected beverage bottles, transforming them into new food-friendly packaging materials.
The U.S. is leading the North American market in the beverage packaging landscape, backed by the nation’s diverse beverage consumption patterns. Key industry players are focusing on strategic partnerships, new product launches, and research, aiming to introduce innovative products and broaden their market presence.
