Global Spirits Packaging Market valued approximately USD XXX million in 2018 is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2019-2026.
Spirits can be defined as distilled alcoholic beverages, which are majorly manufactured through the distillation process. Spirits packaging plays a significant role in driving spirits purchases as the packaging assists in building brand equity and protects the products from outside elements.
Polyethylene terephthalate (PET) bottles demonstrated noteworthy growth in the recent past as these plastic bottles offer lightweight advantages, reduced carbon footprint, sustainability, reduced shipping, and transportation costs. Spirits packaging manufacturers are investing in R&D activities to develop packaging design techniques that can elevate the brand image.
The market growth is primarily driven by rising disposable income and increasing demand for innovative & safe packaging. As consumption of alcohol is increasing in many countries and it is being consumed as a status symbol and people are paying for high-quality products, therefore demand for spirits packaging is growing. Moreover, the rising demand for specialty spirits in both emerging and developing countries and technological enhancements in packaging techniques for attracting customers is providing opportunities for the spirits packaging market. However, Stringent government regulations and the ban on alcohol advertising limits the spirits market growth, which in turn will restrict the demand for containers utilized in its packaging.
The regional analysis of Global Spirits Packaging Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the fastest-growing region across the world in terms of market share. Whereas, owing to countries such as China, Japan, and India, the Asia Pacific region is anticipated to be the dominating region over the forecast period 2019-2026.
The leading market players mainly include-
Big Sky Packaging
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Spirits Packaging Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers VARs
Third-party knowledge providers