Trusted Business Insights presents the Latest Study on Nordic Beverage Packaging Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
The Nordic beverage packaging market size was estimated at USD 1.66 billion in 2017. Growing demand for beverage packaging, coupled with increasing demand for carbonated and fruits and vegetable juices, is anticipated to drive product demand over the forecast period. Beverage packaging in the Nordic region is used in applications such as alcoholic and non-alcoholic beverages. Beverage manufacturers count on packaging solutions that aid in preventing leakage, chemical deterioration, and alteration in flavor of the products. Packaging also plays an important role in improving shelf appeal.
A few major players in the market have been undertaking acquisition of small and medium sized companies as their key growth strategy. The demand for non-alcoholic products in the region has been increasing consistently over the past few years. Spiraling demand for soft drinks has been positively impacting the overall demand for non-alcoholic beverages. Furthermore, increasing consumption of vegetable and fruit juices is supplementing the growth of the market in the region.
Consumers in the Nordic region prefer 100% pure fruit juices owing to increased awareness regarding ingredients used in juices. Technological advancements in packaging procedures coupled with growing focus towards sustainable packaging solutions have been working in favor of the market.
The countries have been implementing general deposit system that is solely driven by governments of Nordic countries aiming for ban on landfills. This has resulted in high end-of-life product return rates that can be recycled. The region also offers a huge opportunity for bioplastic packaging players to tap into lucrative market owing to biodegradable properties of their offerings.