"The Growing Demand for Beer and Soft Drinks Worldwide Is Driving the Kegs Market"
Globally, the kegs market is expected to grow with a CAGR of 5.0% during the forecast period from 2019 to 2027, starting from US$ 780.0 Mn in 2018. The growth of the market is driven by the increasing demand for beer across the globe. Beer is estimated to be one of the most widely used beverages across the globe. As per the American Institute of Public Opinion (commonly referred to as Gallup Inc.), more than 70% of the population in the age group 18-30 consume beers and preferred beer over other alcoholic beverages. This is acting as a major factor driving the sales of the kegs.
Furthermore, changing consumer dynamics and behavior, as well as increasing disposable income of the population across the emerging economies, is also accelerating the adoption of the kegs across the globe. However, certain factors are hindering the adoption of the kegs market worldwide. The damages, improper handling and nonreturn of the kegs are the major challenges faced by the packaging companies. The rising trend of resale of the keg to the local scrapers for the financial benefits across the users is also one of the major constraints in the growth of the market.
Market Synopsis
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"Steel Is Dominating the Kegs Market"
The kegs market is categorized based on material into steel, plastic, and tin. The steel segment accounts for the over 60% share in the kegs market due to the high durability of the material along with favorable recycling property. The steel kegs are a wide array of industrial applications ranging from beverages, pharmaceuticals, and chemical due to its superior properties of the steel such as protection against ultraviolet rays and maintain the property of the gases. Whereas, the plastics kegs are estimated to grow significantly during the forecast period due to the growing demand for sustainable packaging and its cost-effective nature.
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"North America Is Leading the Kegs Market"
The North American accounts for more than 30% share in the kegs market in 2018. Factors such as increasing consumption of the beer and soft drinks across US and Canada is driving the growth of the market in North America. Beer is estimated to be one of the most widely used beverages in the region. Furthermore, the growing packaging industry in the region is further accelerating the demand for the kegs market.
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The key vendors in the kegs market are Ningbo BestFriends Beverage Containers Co. Ltd, Ardagh Group S.A., American Keg Company LLC, Blefa GmbH, The Metal Drum Company, NDL Keg Inc., Julius Kleemann GmbH & Co KG, Schaefer Container Systems, Petainer UK Holdings Ltd. and Shinhan Industrial Co. Ltd.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The kegs market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global kegs market based on material, application and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
Material Segment (2017–2027; US$ Mn)
• Plastics
• Steel
• Tin
• Others
|
|
Application Segment (2017–2027; US$ Mn)
• Alcoholics Beverages
• Non-Alcoholic Beverages
• Cooking Oil
• Chemicals
• Others
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of kegs in 2018 and forecast up to 2027?
- Which is the largest regional market for kegs?
- What are the major trends followed in kegs market across different regions?
- Who are the key companies in the kegs market?
- What are the key strategies adopted by the leading kegs companies in market?
Unique data points of this report
- Statistics on Kegs and spending worldwide
- Recent trends across different regions in terms of adoption of kegs across industries
- Notable developments going on in the industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
