Beverage industry growth
The North American beverage packaging and processing industry is experiencing major growth according to the 2018 Beverage Trends in Packaging and Processing report and infographic, produced by PMMI, The Association for Packaging and Processing Technologies. The expected growth rate is 4.5 percent ($45.5 billion in the next ten years).
Despite 70 percent of respondents believing aluminum cans and bottles are expected to see the greatest innovation in design, container and graphics enhancements, plastic still accounts for 45 percent of packaging material usage. Ready-to-drink, non-alcoholic beverages (in glass containers) are expected to grow at about 40 percent and wine (in plastic containers) is projected to increase 100 percent by 2028.
According to the findings of the report, major consumer trends like convenience and portability are causing a shift in beverage manufacturing. More than 50 percent of participants at carbonated soft drink companies believe the eight-ounce size will soon become the predominant size across the United States and Canada. Of the 75 percent of beverage companies who talked about pack sizes over 75 percent shared that their companies are also adjusting both pack sizes and pack designs to improve portability. Major drivers of these consumer trends include a desire for premium and ultra-premium brands, natural and organic products, environmentally friendly packaging, as well as Millennials craving creativity.
Environmental responsibility has increased in importance to beverage manufacturers. PET bottles from 100 percent recycled PET resin now offer the same clarity and barrier properties as 100 percent virgin PET. More than 75 percent of beverage companies are actively taking steps to reduce the materials in their package and lessen their overall carbon footprint. Aluminum accounts for 70 percent of recycled beverage containers while glass accounts for 23 percent, according to the study’s findings.
