Spirits can be defined as distilled alcoholic beverages, which is majorly manufactured through the distillation process. Spirits packaging plays a significant role in driving spirits purchases as the packaging assists in building brand equity and protects the products from outside elements.
Polyethylene terephthalate (PET) bottles demonstrated noteworthy growth in the recent past as these plastic bottles offer lightweight advantages, reduced carbon footprint, sustainability, reduced shipping, and transportation costs. Spirits packaging manufacturers are investing in R&D activities to develop packaging design techniques that can elevate the brand image.
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The increasing demand for innovative & safe packaging and rising disposable income are major factors that drive the market growth. The demand for premium spirits packaging is growing as alcohol is increasingly being consumed as a status symbol and consumers are ready to pay more for high quality products. Stringent government regulations and the ban on alcohol advertising may limit the spirits market growth, which in turn will restrict the demand for containers utilized in its packaging. However, the growing demand for specialty spirits from emerging & developed economies and technological advancements in packaging techniques to attract consumers will provide growth opportunities for the spirits packaging market expansion.
The major players that operate in the global market focus on key market strategies such as product launch, mergers, acquisition, and expansion to strengthen their market reach to maintain their position in the competitive market.
Comprehensive competitive analysis and profiles of major market players provided in the report include:
The report segments the spirits packaging market on the basis of product and geography. Based on product, the market is divided into bottles, stand-up pouches, cans, and others. Bottles are further segmented into PET bottles and glass bottles. The geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
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