The global sales of skep bottle are estimated to be worth USD 376.7 million in 2021 and are anticipated to reach a value of USD 671.5 million by 2031. Sales are projected to rise at a CAGR of 6.0% over the forecast period between 2021 and 2031. The revenue generated by skep bottle in 2020 was USD 355 million.
Driving forces for the skep bottle are the increasing demand for honey and all those natural products that require the traditional appeal of skep bottles with their functional design. The increased focus on eco-friendly, sustainable packaging solutions also coincides with the use of skep bottles, which are normally made from recyclable material.
Further, premiumization trends in food packaging, where look and feel, and often heritage, is important, also contribute to the market's furtherance. The increasing interest of consumers in authentic and artisan products further advances the appeal of skep bottles in various niche markets.
Global Skep Bottle Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 355 million |
| Estimated Size, 2021 | USD 376.7 million |
| Projected Size, 2031 | USD 671.5 million |
| Value-based CAGR (2021 to 2031) | 6.0% |
The increasing demand from the filling process involved in processed food & beverage is the prime factor which is driving the growth of skep bottle market.
Also, availability in the flexible material and customization in the product by the manufacturers will gain the demand for skep bottle in the market and extend its usability in various sectors during the forecast period.
Though the leading countries did experienced the initial setback of supply chain & logistics disruption during the outbreak of COVID-19 pandemic the gradual ease and waivers on imposed lockdowns and resumption of production is said to revive the market growth.
Demand from filling process involved in liquid based food items e.g. honey and syrups along with beverages is said to propel the demand of skep bottle. In terms of product designing, and production of skep bottles that meet the as per customized requirements of the customers are gaining the popularity in the recent years.
In accordance with the various requirements, the manufacturers are continuously enhancing the design of the skep bottles considering the possible material types along with its feasible design which provide easy to fill openings and easy to use closures options which are among the factors encouraging the younger audience during the forecast period.
These variants in the customization is expected to be one of the major factor driving the skep bottle market. Also, growing rate of the food & beverage industry is one of the significant factor propelling the demand of skep bottle.
According to the study, it is estimated that the LDPE and PET material type of product is gaining the higher acceptance among audience and is expected to hold the major market share of skep bottle market during the forecast period. LDPE type is the most broadly used material which is noted due to its sturdiness, flexibility and corrosion resistance properties.
PET material type is mostly preferable options by the manufacturers over other plastic material due to its recyclability property, its unique additional features and minimum loss of raw material during the manufacturing procedure. Increasing consumer awareness for top-notch hygiene has direct impact on emerging refillable products which is creating the demand for the product.
Food & Beverage industry is universal to the human health & life and has unique role in expanding the economic opportunity due to which is expected to propel the growth of the skep bottle market. In food & beverage industry the market of skep bottle is anticipated to witness higher growth over other sector owing to its never ending demand for the product to serve different beverages to the audience.
Although the product has been recently gaining its application in pharmaceutical and household care products, food and beverages industry will continue to generate the demand at the forefront.
According to the study, Asia Pacific is considered to be a prominent production hub in the global food and beverages industry which is anticipated to drive the growth of skep bottle market. Owing to the rising food & beverage sectors in countries such as China, ASEAN countries and India are estimated to account for a significant share over the forecast period.
North America is believed to be another leading production hub of the food & beverage industry and is expected to remain leading light region over the forecast period for regional market.
In developed countries such as in USA and Canada the products brands and reputations are expected to be increasingly important which has encouraged the manufacturers to stands out their products in terms of their quality and design which is expected to boost the growth for the market.
Some of the leading manufacturers of the product include
Manufacturers are upgrading their product designs as per industry standards and striving to lower their production cost which helps to increase their profit margin and boost the growth of the market.
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 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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Skep Bottle Market
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