Industry Insights
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.
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Product Insights
PET bottles have been extensively used in Nordic countries for bottling beverages such as fresh milk, fresh juices, cold brew coffee, and other cold drinks. They are preferred to increase the shelf appeal of end products. Another important factor that has led to increased use of PET bottles is recyclability. PET bottles are 100% recyclable and offer cost-saving benefits to their manufacturers.
Cartons that are ideal for packaging of beverages such as milk, soy products, and vegetable & fruit juices are expected to witness surge in demand over the coming years. They are considered to be environment-friendly in the region as they are recyclable and can be manufactured through various energy efficient processes.
Material Insights
The regional industry has witnessed an increased production of bio-based carton boxes in the recent past. These cartons are being delivered to a large number of international beverage brands in the region and internationally. Additional sustainable developments in recent past, including production of bioplastics from wood-based resources, has also been a major contributing factor to the growth of the overall market in the region.
Application Insights
In 2017, the non-alcoholic beverages segment dominated the overall market, accounting for a share of approximately 53.0% in the overall revenue. Non-alcoholic beverages include milk, soft drinks, coffee, tea, soda, smoothies, mocktails, juices, and shakes.Rising health awareness and conscious effort to reduce consumption of alcoholic drinks has driven demand for packaging solutions in this segment.
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Regional Insights
Iceland is expected to be the fastest-growing market and is projected to expand at a CAGR of 3.85% during the forecast period. This can be attributed to increasing demand for both alcoholic and non-alcoholic beverages across the country.
Report Scope
Attribute & Details
Base year for estimation
2017
Actual estimates/Historical data
2014 - 2016
Forecast period
2018 - 2025
Market representation
Revenue in USD Million & CAGR from 2018 to 2025
Report coverage
Revenue forecast, company share, competitive landscape, growth factors and trends
Country Scope
Norway, Sweden, Denmark, Finland, Iceland
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