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 consumes beer and prefers 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 the increasing disposable income of the population across emerging economies, are also accelerating the adoption of kegs across the globe.
However, certain factors are hindering the adoption of the keg 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 to the users is also one of the major constraints on the growth of the market.
Market Synopsis
Steel Is Dominating the Keg Market
The keg market is categorized based on material into steel, plastic, and tin. The steel segment accounts for over 60% of the keg market due to the high durability of the material and its favorable recycling properties.
The steel kegs have a wide array of industrial applications ranging from beverages, pharmaceuticals, and chemicals due to the superior properties of the steel, such as protection against ultraviolet rays and maintaining the properties of the gases. In comparison, plastic kegs are estimated to grow significantly during the forecast period due to the growing demand for sustainable packaging and its cost-effective nature.
North America Is Leading the Kegs Market
North America accounted for more than 30% of the keg market in 2018. Factors such as increasing consumption of beer and soft drinks across the US and Canada are 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 keg market.
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 and Forecast Period
This research report presents the analysis of each segment from 2017 to 2027,considering 2018as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is 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 the global keg market based on material, application, and geography. Key segments covered in the report are as follows:
Key questions are answered in this report.
What was the market size of kegs in 2018, and what is the forecast up to 2027?
Which is the largest regional market for kegs?
What are the major trends followed in the keg market across different regions?
Who are the key companies in the keg market?
What are the key strategies adopted by the leading keg companies in the market?
Unique data points of this report
Statistics on kegs and spending worldwide
Recent trends across different regions in terms of the adoption of kegs across industries
Notable developments are going on in the industry.
Attractive investment propositions for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
Frequently Asked Question:
The market for Kegs Market is expected to reach USD$ 780.0 Mn in 2027.
The Kegs Market is expected to see significant CAGR growth over the coming years, at 5.0%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
American Keg Company LLC, Blefa GmbH, The Metal Drum Company, NDL Keg Inc., Julius Kleemann GmbH. are some of the major players in the global market.
