According to the latest research by Future Market Insights, Fruit Juice Packaging Market is expected to witness robust growth with 5-6% CAGR during the forecast period from 2021 to 2031. The Fruit Juice Packaging will show growth due to the rising demand for packaged foods and rising disposable income. Therefore, growth at a significantly high CAGR will be expected soon.
What is Driving the Demand for Fruit Juice Packaging?
Fruit juice is a rapidly growing segment of the beverage industry. Thus the fruit juice packaging is simultaneously changing and growing. With the rise in consumer demand for new products in line with a hectic lifestyle, on-the-go consumption is transforming the packaging landscape.
This has led the fruit juice manufacturers to provide functional packaging formats and advanced materials. One of the main aims of a packaging system and packages is to protect fruit juice from microbial spoilage and chemical deterioration during distribution and storage. This consumption is on the rise especially in developing countries due to disposable income rise.
According to a 2018 study, approximately 36 million liters of fruit juice have been consumed globally. According to studies around 40% of fruits per capita are used for making juices. It’s been observed that there has been a significant rise in children as consumers of fruit juices. This huge making and consumption of fruit juices are expected to grow the fruit packaging market.
Also, with increasing demand and consumption the fruit juice market is saturating therefore packaging becomes a way to attract more customers. Also in the forecasted period, there will be a rise in sugar-free and natural beverages. All these factors drive the Fruit Juice Packaging Market significantly during the forecast period from 2021 to 2031.
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Which Factors are Likely to Augment the Growth of the Fruit Juice Packaging market?
The changing consumer adaption and improvements in fruit juices are likely to augment the Fruit Juice Packaging market in the forecasted period. Changing consumer preferences are resulting in an increased utility of packaging materials to enhance strength, aroma retention, heat insulation, sealing, and barrier against moisture.
Soaring demand for small packs is providing a strong push to the demand for flexible bags and pouches. The Fruit Juice Packaging market is experiencing significant growth due to types of juices manufactured, methods of packaging, increasing disposable income, traveling, and change in lifestyle. Thus the demand for fruit juice packaging will increase over the forecasting period.
The U.S. and Canada Fruit Juice Packaging Market Outlook
U.S. and Canada will retain the top position in the market of fruit juice packaging due to the continued demand for fruit juice and rising inclination towards natural beverages than others.
The presence of strong infrastructure, packaging industries, and growing fruit juice manufacturing industries in the U.S. and Canada are adding to fruit juice packaging growth in the region. According to a study, 45% of the U.S population are consumers of fruit juices. There has been an increase in children in form of fruit juice consumers in the countries. These factors will provide growth to the fruit juice packaging market in the region.
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Europe Demand Outlook for Fruit Juice Packaging
The European fruit juice market is experiencing significant growth due to increasing at-home consumption. The European Fruit Juice Association (AIJN) joined the European Pact for Sustainable Industry, which will help the industry grow in the region with the involvement of sustainable packaging material.
The post-consumer recycling material will be in demand in the forecasted period. This will result in the growth of the fruit juice packaging demand in Europe during the forecast period.
Who are the Key Manufacturers and Suppliers of Fruit Juice Packaging?
Some of the leading manufacturers and suppliers of Fruit Juice Packaging include
Amcor Limited
Ball Corporation
Bemis Company Inc.
Smurfit Kappa Group
Tetra Laval International S.A.
DS Smith Plc.
Evergreen Packaging Inc.
International Paper Company
MeadWestvaco Corporation
Tetra Pak International
Ester Industries Limited
Parekh Aluminex Limited
TCPL Packaging Limited
Flexituff International Limited
Time Technoplast Limited
Uflex
Jindal Poly Films Limited, Ess Dee India., and others.
These companies followed certain strategies like partnership, manufacturing plant expansion, mergers, and acquisitions to gain a good position in the market. For instance, in September 2020, Ball Corporation announced its plan to build a new U.S. aluminium beverage packaging plant in Pittston, Pennsylvania. Which will be functional from mid-2021.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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