Nordic Beverage Packaging Market to Discern Steadfast Expansion During 2019-2027
Nordic Beverage Packaging Market: Overview
Nordic beverage packaging offers protection of beverages from chemical deterioration and leakage. Additionally, it aids in enhancing the shelf life of the product. This has led to an increase in popularity of these packaging solutions in the beverage manufacturing industry. The Nordic beverage packaging market is expected to grow leaps and bounds during the forecast period owing to a rise in demand for carbonated drinks.
Nordic Beverage Packaging Market: Notable Developments
Below are a few notable developments in the Nordic beverage packaging market: Plant based PET bottles is one of the most significant innovations in the beverage packaging industry. Coca-Cola’s has developed a beverage packaging solution called PlantBottle made from thirty percent sugarcane based materials. It offers reduced carbon emissions as there dependency of petroleum based PET. Along with Coca-Cola PepsiCo has also launched 100% plant based packaging solution. These developments have played a key role in strengthening the growth ground of Nordic beverage packaging market. Development of soft pouch packaging has served as a major landmark in beverage packaging market. This type of packaging is lightweight and requires minimal material for manufacturing, thereby reducing the carbon footprint. Additionally, these pouches offer protection against drink spiking. Moreover, the compact packaging makes it easy to carry. Soft pouch packaging is gradually entering the alcoholic beverages packaging industry, thereby presenting several growth opportunities for the Nordic beverages packaging market.
Key players in the Nordic beverage packaging market include Amcor Limited, Reynolds Group Holdings Limited, Sonoco Products Company, Danish Bottling Company A/S, and Bemis Company.
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Nordic Beverage Packaging Market: Key Growth Dynamics
There is a rise in demand for recyclable beverage packaging solutions in Nordic regions owing to the regulations laid down by the Nordic governments pertaining to reduction of landfills. This resulted in an increase in production of recyclable beverage packaging solution leading to a surge in the Nordic beverage packaging market. Additionally, an expansion in the beverage manufacturing industry has contributed to the market’s expansion in the Nordic region.
Furthermore, rising emphasis on sustainable packaging solutions owing to a rise in consumer awareness has highly driven the Nordic beverage market’s growth. Along with this, high demand for PET bottles for the packaging of fresh juices and brew coffee has expedited the market’s expansion. PET bottles offer an enhanced shelf appeal and are highly cost-effective.
In recent times, there is a rise in the development of smart packaging solutions due to an increase in level of counterfeit beverages. As result manufactures are increasingly developing bottles with smart tags in order to provide information regarding the contents in the beverage. This has impacted the Nordic beverage packaging market positively, thereby creating new growth avenues.
On the downside, there are a few hindrances that may cause a shortfall in the Nordic beverage packaging market. Factors such as lack of raw materials in the remote areas may hamper the market’s growth. However, initiatives taken by Nordic governments to promote the adoption of sustainable beverage packaging may present several growth opportunities for the Nordic beverage packaging market.
Nordic Beverage Packaging Market: Regional Outlook
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Regionally, Sweden accounts for the highest share in the Nordic beverage packaging market. This is on account of surge in production of alcoholic and non-alcoholic beverages in this region. Additionally, high prevalence of microbreweries has contributed to the market’s growth in this region. Iceland is expected to show a substantial growth during the forecast period owing to a high consumption of beverages.
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