The global beverage packaging market is expected to witness significant growth in the period leading up to 2020 on account of increasing beverage consumption in emerging markets of Asia Pacific and Latin America, according to a new report.

Published by Grand View Research, it said that the growing demand for energy drinks is expected to drive the demand for aluminium cans, which will in turn have a positive impact on the packaging market.

The growing population in countries such as Jordan, Indonesia, UAE, the US and North African nations has been a major factor driving soft drinks and diary beverages demand, it said.

The growing beverage industry in these regions is expected to further drive the global market over the next six years.

Stringent environmental regulations regarding the usage of chemical additives and plastics in packaging materials are expected to pose challenges to market growth over the forecast period.

The companies are involved in widespread research and development activities to develop packaging materials through sustainable means in order to tackle recyclability issues associated with conventional packaging products is expected to yield opportunities over the next six years.

The increasing disposable income and growing consumption of soft and energy drinks in emerging markets of China and India are expected to drive the beverage industry growth, said the report.

Major beverage companies are shifting their focus towards expanding their capacities in Asia Pacific in order to cater to the growing demand, it said.

Some of the major companies operating in the global beverage packaging market include Rexam, Ball Corporation, Alcoa, Crown Holdings, Mondi, Stora Enzo, and Owens-Illinois, it added. - TradeArabia News Service