Steady growth for the beer packaging sector as brewers look for new options
The global beer packaging market is expected to hit US$28.7 billion this year, up from US$27.6 billion in 2023, as craft breweries increase efforts to boost beer sales through creative packaging, according to a recent study from Future Market Insights (FMI), a research firm. The market could also continue to grow to about US$40.5 billion by 2034, at a projected 3.5% CAGR.
Among the factors that the study identified as driving the market’s increase is the growth of online retail and direct-to-consumer channels that are influencing beer packaging. Packaging that also clearly complies with regulations and displays transparency can build more consumer trust. For example, as consumers become more concerned about health and wellness, demand for beer packaging that relays nutritional information and references healthier ingredients is also on the rise. “Packaging that aligns with health conscious consumer preferences may find opportunities in the market,” says the Future Market Insights report.
Creative and eye-catching packaging designs are also being explored more by breweries to attract consumers. There is growing competition on making a brand stand out on the shelf from other brands by using unique labels, shapes and materials. The study finds that breweries are teaming up more often with artists, designers, or other brands, and collaborating on creating unique and customised packaging to pique consumer interest. “Customisation and personalisation in packaging, such as personalised labels or packaging for special occasions provide opportunities for breweries to connect with consumers on a more individual level,” notes the report.
Another driver of creativity in the Asian packaging market is keeping aligned to changing tastes. In China, for example, the rapidly increasing middle class population and the changing consumer preferences that brings, have led to a rise in beer consumption in both volume and diversity. This is fueling demand for more varied beer packaging solutions to align with emerging market segments.
The report also identifies some of the downside risks for the beer packaging sector. There may be additional costs associated with implementing more environmentally friendly packaging and keeping up with new regulations. There is also the risk that consumers may not respond positively to new packaging designs or materials.
