The global beverage carrier rings market size is expected to witness tremendous expansion due to the high demand for beverages across the globe. As compared to bottled beverages, demand for canned beverages is witnessing considerable growth. Beverage carrier rings is an easy way for the transportation of canned beverages in more quantity.
Beverage carrier rings are available in different shapes and sizes according to the requirement of the customer. Key players in the market also offer customized products to customers. Different types of materials such as plastic, fiber, and cardboard are used for the manufacturing of beverage carrier rings. High density plastic (HDP) material is the most commonly used material for the manufacturing of beverage carrier rings.
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Beverage Carrier Rings Market – Takeaways
- 4-pack variants of beverage carrier rings are witnessing increased adoption over cost benefits to producers and beverage consumers, particularly in the case of alcoholic drinks.
- Plastic remains the predominant material for the production of beverage carrier rings. However, these products are witnessing a gradual decline in market share to cardboard and fiber alternatives.
- Beverage ring packaging is largely used for alcohol drinks, particularly the vast range of beers in cans and bottle packaging options.
- North America is a key market for beverage carrier rings boosted by demand in a massive, matured food and beverage processing sector in the United States.
Beverage Carrier Rings Market – Drivers
- Mass production of alcoholic beverages including beer and wine is a major factor contributing to the adoption of beverage carrier rings.
- Popularity of canned beverages in comparison to bottled variants bolsters overall application.
- The development of board and biodegradable plastics are opening growth opportunities in the industry.
Beverage Carrier Rings Market – Constraints
- Strict regulations against single use plastics has been a major challenge for manufacturers to operate at a large scale.
- Inadequate infrastructure for recycling in many parts of the world is detrimental to the industry.
Competitive landscape:
Key players in the beverage carrier rings market are focusing more on collaboration with other companies, so as to work more effectively and efficiently. Also, these companies are spending huge amounts of money on research and development activities so that better products can be made available to customers.
Some players in the beverage carrier rings market are collaborating with recycling companies. For instance, Hi-Cone, a leading manufacturer of beverage carrier rings has collaborated with a recycling company named Teracycle. With this collaboration, Hi-cone can focus only on increasing productivity, as all recycling activities will be performed by Teracycle. It will help both companies establish themselves across different regions in the beverage carrier rings market.
Beverage Carrier Rings Market: Segmentation
Fact.MR has studied the beverage carrier rings market with detailed segmentation on the basis of type, material, application usage and regions.
Type:
- 4 Pack Rings
- 6 Pack Rings
- 8 Pack Rings
Material:
- Plastic
- Fiber
- Cardboard
Application:
- Alcohol
- Soft Drinks
- Juice
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- MEA
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Questionnaire answered in the Market outlook Report of Beverage Carrier Rings include:
- What is the key strategy deployed by large players to maximize Beverage Carrier Rings Market growth?
- What are the main challenges faced by players in the Beverage Carrier Rings market Demand?
- With the advent of technological advancement, how will the Beverage Carrier Rings market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Beverage Carrier Rings market size?
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