The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Europe is witnessing moderate growth in alcoholic beverages market. Soft consumer spending and decline in alcohol consumption is impacting the country’s alcoholic packaging industry. The subdued economic growth has led to overall decline in demand for alcoholic consumption with manufacturers looking for new avenues to expand their business operations. Europe alcoholic drinks packaging market will witness moderate growth over the forecast period and is expected to remain the same till economic activity returns to pre-recessionary period.
Russia market was $XX.XX billion USD in 2014 and is estimated to reach $XX.XX billion by 2020 at a CAGR of XX.XX%.
Increase in consumer spending towards recreational activities and growth in social acceptance has led to sustained increase in the demand for alcoholic drink products impacting the packaging market. Packaging has played an important role, with wide range of offerings by alcoholic drink manufacturers contributing to the market growth. Glass is the major material used for packaging, apart from metal cans and PET bottles.
The social class difference like that of between, upper middle class, middle class, rural population consumption patterns are drive the demand of packaging solutions. The demand for packaging solutions for different alcoholic drinks like wine, whiskey, beer, vodka and others will continue to witness growth in near future. The robust retail market and improving economic activity will drive the alcoholic drinks packaging market.