Soft Drinks Market Share| COVID-19 Impact

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Soft drinks are beverages preferred globally due to its unique taste. Through a mix of advertising and word-of-mouth publicity, soft drink companies have enticed buying decisions of consumers. Barring taste, flavor, and mouthfeel, brands are focusing on packaging designs in order to carve their niche in the highly competitive beverage industry.

Segmentation

The Soft Drinks Market Share is segmented by material, packaging type, and application.

By packaging type, it is segmented into bottle, box, cartons, and cans. Bottles and cans are predicted to generate the maximum revenue for the market. This can be credited to their lightweight nature and convenience offered by it. Boxes are expected to gain precedence due to preference of alternative packaging formats voiced by consumers.

By application, it is segmented into functional drinks, carbonated soft drinks, juices, and others. Functional drinks are expected to gain a majority of the market share owing to increasing health consciousness of consumers. Carbonated soft drinks can contribute to the value of the soft  drink packaging market owing to the domination by drink manufacturers such as Coca-Cola and Pepsi.

Regional Analysis

Geography-wise, the soft drink packaging market covers Europe, North America, Asia Pacific (APAC), and Rest-of-the-World (RoW).

North America is poised to generate significant market revenue due to catering to a large consumer base. Presence of major players and countries such as Canada and the U.S. can work in favor of the market. In 2019, Shatto Milk Company contracted Berlin Packaging for creating designs which would fit on tins and cater to their demographic.

Competitive Landscape

Key market players include Amcor Ltd., CAN-PACK S.A., Crown Holdings, Inc., Mondi Group, Bemis Company Inc., CKS Packaging, Inc., Graham Packaging Company, Owens-Illinois, Inc., Tetra Pak International S.A., Ardagh Group Inc., AptarGroup Inc., Ball Corporation, and Allied Glass Containers.

Industry News

April 2019 – Lucozade Ribena Suntory has decided to redesign its bottles in light of ban on single-use plastics. It has decided on a sustainable approach and contracted Seymourpowell in assisting with its brand reimagining.