PET Keg Market Overview
The growth of the global PET keg market is thriving on the back of increasing demand for premium alcoholic beverages such as craft beer, along with the rising popularity of low-alcoholic beverages and increasing adoption of kegged wine around the globe. Numerous breweries and microbreweries are nowadays adopting one-way PET kegs for the storage and transportation of their beverages. Apparently, with the advent of numerous types of beverages in the beverage industry, there is a rising demand amongst beverage manufacturers for PET kegs, which is anticipated to contribute significantly towards the growth of the global PET keg market.
The global PET keg market reached USD 90.50 million in the year 2018 and is expected to garner USD 205.57 million by the end of 2027 by registering a CAGR of 10.5% across the globe over the forecast period 2020-2027.
Growth Highlights based on Region during 2018-2027
The global PET keg market is segmented by regions into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Among these regions, the market of Europe PET keg is driven by the increasing adoption for storage and transportation of variety of alcoholic and non-alcoholic beverages, along with the growing consumption of alcoholic beverages in the region. Moreover, the region is also famous for several non-alcoholic beverages such as kombucha and coffee amongst others, which is also considered as a key factor promoting towards the growth of the market in the region. According to the statistics by the International Coffee Organization, the consumption of coffee in Europe increased by 1.2% in the year 2019, accounting to a total consumption of 54.54 million bags. The region captured a market share of 44.52% in the year 2018 and is anticipated to grow at a modest CAGR over the forecast period. Further, the market in Asia Pacific is anticipated to grow at the highest CAGR of 12.6% during the forecast period.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Market Segmentation Synopsis
By Capacity
The global PET keg market has been segmented on the basis of capacity into 10L-20L, 20L-30L and others. The 20L-30L segment with 50.50% share in the year 2018, occupies the largest market share of PET kegs across the globe. Additionally, the 20L-30L segment is anticipated to cross USD 106.68 million by the end of 2027 and is anticipated to flourish at a CAGR of 10.8% over the forecast period. Utilizing the 20L-30L kegs by beverage manufacturers helps in the overall logistic supply chain process and helps to lower the transportation cost. Moreover, these kegs are also manufactured by several key players.
Market Drivers and Challenges
Growth Indicators
PET kegs are increasingly used for the packaging of alcoholic beverages which is considered to be a major factor impacting the growth of the global PET keg market. PET kegs are used for the storage and transportation of beer, wine and ciders, which are among the most prominent alcoholic beverages. Also, rising production and consumption of beer, coupled with the rising consumer preference towards kegged wine are some of the factors which is raising the demand for PET kegs from alcoholic beverage packaging sector. Additionally, it has also been observed in the recent years that recycled PET are used for the manufacturing of PET kegs and has significantly decreased the production of waste as well as the cost associated with the production of PET kegs from virgin PET. The increasing sustainability and recyclability associated with PET kegs is also another key factor anticipated to drive the growth of the global PET kegs market in the coming years.
Barriers
Kegs are also made from stainless steel and wood, and are also the most widely used materials for storage and transportation of wide array of alcoholic and non-alcoholic beverages across the globe, which is considered to be the prime factor limiting the growth of the global PET keg market.
Top Featured Competitive Landscape
Some of the affluent industry leaders in the global PET keg market are Petainer, OneCircle, PolyKeg S.r.l., Rehrig Pacific Company, Keg Exchange GmbH, MCT Company, Dolium, Petkos, Oxebarand Techpac India.
