In a recently published report, Global Spirits Packaging Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Spirits Packaging Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Spirits Packaging Market valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2018-2025. The major driving factor of global spirits packaging market are growth in disposable income and increasing demand for safe and innovative packaging. The demand for premium spirits packaging is growing as alcohol is increasingly being consumed as a status symbol and consumers are ready to pay more for high quality products. The major restraining factor of global spirits packaging market are stringent government regulations and the ban on alcohol advertising. Spirits can be defined as distilled alcoholic beverages, which is 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. There are various benefit of spirits packaging such as with their large, flat structure and pouches provide a complete-package marketing opportunity that allows you to billboard your brand, eliminating both the possibility of cork contamination and the threat of oxidation & revolutionary smart nozzle keeps beverages fresher for up to 1 month after opening and innovative and highly marketable packaging is about more than being cool and different. It’s about the opportunity for exponential sales growth, access to new markets.
The regional analysis of Global Spirits packaging Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific accounted the dominant share in the global spirits packaging market as well as generating high revenue share in 2017. Due to increase in consumer expenditure for recreational activities, rising disposable incomes, growing demand for super-premium or premium products. Europe also held a significant revenue share in 2017. North America alcohol packaging market is accounted to experience a significant growth over the forecast period 2018-2025. Latin America spirits packaging market is accounted to experience supplemented growth rate over the coming years due to increasing tourism activities in countries such as Brazil, which will increase the demand for alcoholic beverages and it is expected to positively impact alcohol packaging market growth over the forecast period.
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:
ï‚§ PET bottles
ï‚§ Glass bottles
ï‚§ Stand-up pouches
ï‚§ Win manufacturer
ï‚§ North America
ï‚§ Asia Pacific
ï‚§ Latin America
ï‚§ Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Saxon packaging, BIG SKY PACKAGING, LiDestri Spirits, AstraPouch, United Bottles and Packaging, Stranger and Stranger, Hunter Sourcing, Hartness International Inc., Saxco International LLC, Neenah Paper Inc. and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Spirits packaging Market in Market Study:
ï‚§ Key Consulting Companies & Advisors
ï‚§ Large, medium-sized, and small enterprises
ï‚§ Venture capitalists
ï‚§ Value-Added Resellers (VARs)
ï‚§ Third-party knowledge providers
ï‚§ Investment bankers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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