Innovations Driving the Polyvinyl Alcohol Packaging Market – forecast 2023

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The global Polyvinyl Alcohol Packaging market is growing at a rapid pace; mainly due to the burgeoning alcoholic beverages industry.  According to a recent study published by Market Research Future (MRFR), the booming global Polyvinyl Alcohol Packaging market is expected to witness a voluminous growth by 2023, registering 4.2% CAGR throughout the anticipated period (2018 – 2023).

Rapidly changing lifestyles and increased purchasing power of consumers are key factors propelling the growth of the market, leading to the changing preferences. Additionally, innovative packaging formats, mainly driven by millennials, are providing impetus to the market growth. Furthermore, the increased demand for locally produced alcohols that has gone up due to the change in preferences defines the growth of the market.
The change in the traditional form of packaging has also resulted in increasing the investments in the packaging industries, bringing about better and attractive packaging solutions. Alcohol containers are rapidly expanding in terms of package formats and sizes. Single-serve packaging is seeing strong growth.  

The fastest growth for containers is expected to fall outside the typical 750-ml size, including both smaller- and larger-sized offerings.
Besides plastic bottles, other packaging solutions are also becoming ever more popular. Single-serving containers include aseptic cartons, plastic bottles, cans, and cups & goblets. Out of these, cups and goblets, are predicted to post the fastest gains, although from a small base. Single-serving pet packaging will see strong prospects attributed to the advantage of enabling alcohol to be taken to or sold in places that typically don’t allow glass containers.

Major Players

Key players leading the global Polyvinyl Alcohol Packaging Market include Crown Holdings, Inc., Ball Corporation, Ardagh Group SA, Owens Illinois Inc., Fiberon, LLC, Berry Global, Inc., Nampak Ltd, Gerresheimer AG, Stora Enso Oyj, and Vidrala S.A. (Spain) among others.

Segments

For ease of understanding, the analysis is segmented into four key dynamics:
By Material                   : Glass, Metal, Plastic, and Paper & Paperboard among others.
By Packaging                : Primary Packaging (Bottles, Cans, Bag-in-box, Liquid brick carton Growlers Poches, others) and Secondary Packaging (Boxes and Folding cartons among others)
By Application                : Beer, Wine, and Spirits among others.
By Region                       : Europe, North America, Asia Pacific (APAC), and Rest-of-the-World (RoW).

Regional Analysis

The North American region heading with the high consumption of premium alcohol beverages leads the global Polyvinyl Alcohol Packaging market. Moreover, factors such as high living standards of people and increase in disposable incomes of consumers are acting as major driving forces behind the growth of the regional market, driving the demand for alcohol. Canada and the U.S. account for major market shares in the region, which are expected to help the region register the highest CAGR during the forecast period.
Europe holds the second-largest share in the global Polyvinyl Alcohol Packaging market and is expected to multiply amounting to substantial growth over the forecast period. Factors such as the increasing consumption of alcohol alongside the high purchasing power of consumers drive the demand in the market. The region is expected to grow at a considerable rate of CAGR by the end of the forecast period. This can be credited to alcohol becoming a common staple during meals at home rather than a beverage ordered out at restaurants or special events.

The Asia Pacific Polyvinyl Alcohol Packaging market is emerging as a region with high potential. Factors such as changing lifestyle and increasing consumption of alcohol are expected to contribute to the market during the forecast period significantly. The APAC is expected to expand at a considerable CAGR over the forecast period. The region is expected to display an increase in the popularity of alcohol and changing preferences from beer and other beverages to alcohol among younger customers. The increase in production of local alcoholic beverages is also adding to the growth.

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