According to a new market research report published by Acute Market Reports “Global Kegs Market (Material (Plastic,Steel, Tin, Others); Application (Alcoholic Beverage, Non-Alcoholic Beverage, Cooking Oil, Chemicals, Others)) – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”, the kegs market is set to grow with a CAGR of 5.0% during the forecast period, starting from US$ 780.0 Mn in 2018.
Market Insights
The global kegs market is driven by the growing demand for suitable packaging solutions, especially from the alcoholic beverages sector, across the globe. As the concern towards the environment safety among the regulatory authorities is increasing, the authorities are restricting the use of non-recyclable packaging material. Therefore, the packaging companies are shifting towards environment-friendly and recyclable packaging materials. This is driving the demand for the kegs across the beverages, chemicals and pharmaceutical industry sector.
Browse Full Report Originally Published by Acute Market Reports @ https://www.acutemarketreports.com/report/kegs-market
Moreover, the changing lifestyle and the growing demand for premium products such as draught and craft variants are also propelling the adoption of the kegs market. Additionally, the increasing demand for alcoholic and non-alcoholic beverages is accelerating the adoption of the kegs for the transportation and storage market.
The kegs are widely being across the alcoholic beverage, non-alcoholic beverage, pharmaceuticals, chemicals, and cooking oil for the storage and transportation purpose. The alcoholic beverage sector is estimated to account for the more than 52% share in the kegs market. The growth of the market is credited to the high consumption rate of alcoholic and nonalcoholic beverages across the globe.
Asia Pacific’s kegs market is estimated to grow significantly at a CAGR of 7.5% during the forecast period. The increasing disposable income of the population in the region is further driving the demand for the market. Over the past decade, a significant in the middle class of the emerging economies of Asia have been witnessed. The region accounts for more than 60% of the global middle-class population, and the number is further estimated to grow during the forecast period. Furthermore, the growing food & beverage industry in the region is propelling the market.
Some of the prominent 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.
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