Million Insights - World's Fastest Growing Market Research DatabaseAccording to new report available with Million Insights, the global beer keg industry research report offers thorough insights on raw materials, regional demand, sales channels and global scope. This study enables many opportunities for the market players to invest in research and development.
The global beer kegs market size is projected to touch USD 62.1 billion by 2025, according to a new report by Million Insights. It is projected to grow at a CAGR of 4.6% through the forecast period of 2019 to 2025. The upsurge in consumption of beer by youngsters is driving the market growth. Consumers preferring flavored alcoholic beverages is most likely to benefit the market. Further, increasing demand for draught and craft beers along with rising per capita income of consumers is boosting the growth of the market. Soaring on-premise sales is anticipated to propel the market growth. Draught beers are usually served using kegs to maintain its pressure, thereby, witnessing huge demand from on-trade sales.
Steel kegs dominated the market with 84.7% of market share due to its extensive production, great longevity and easy recycling properties. Steel kegs block the ultraviolet rays and gases to preserve the flavor and quality of beer. Hence, they are used for transportation and storage purposes.
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Asia Pacific is projected to grow at the fastest CAGR of 5.1% in the forecast period because of high production and consumption of beer in countries like Singapore, India and China. Further, increasing number of breweries providing draught and craft beer are contributing in boosting the product demand. Another factor boosting the market growth is increasing number of companies spending on eco-friendly kegs and sustainable packaging solutions. For example, Petainer introduced a unique variant of DLC kegs in Japan that are considered to be the most environment friendly variant.
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Further key findings from the report suggest:
• In 2018, the beer kegs market valued USD 45.2 billion globally owing to rising disposable income and evolving lifestyle of consumers
• Europe dominated the market in terms of revenue and held the largest share globally due to increasing preference for craft beer
• Plastic kegs are anticipated to grow at a CAGR of 4.6% because of major companies concentrating on sustainable packaging solutions along with eco-friendly and recyclable properties. Steel kegs dominated the market with 84.7% of market share in 2018
• With the presence of major players like Ningbo BestFriends Beverage Containers Co. Ltd; NDL Keg Inc.; Julius Kleemann GmbH & Co KG; Petainer UK Holdings Ltd; Blefa GmbH; Shinhan Industrial Co, Ltd; and American Keg Company, LLC., the market is highly competitive in nature
Million Insights has segmented the global beer kegs market on the basis of raw material, and region:
Beer Kegs Raw Materials Outlook (Revenue, USD Billion, 2015 - 2025)
Beer Kegs Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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