In 2023, the kegs market is anticipated to yield approximately US$ 939 million in revenue, with expectations to surge to US$ 1.5 billion by 2033. This projection signifies a compound annual growth rate (CAGR) of 4.5% from 2023 to 2033. Over the decade, the market is poised for significant expansion, demonstrating robust potential for growth and development. Factors such as evolving consumer preferences, technological advancements, and expanding beverage industries contribute to this upward trajectory. With consistent growth anticipated, stakeholders in the kegs market are presented with promising opportunities to capitalize on emerging trends and meet evolving demands.
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Key Takeaways from the Kegs Industry:
- The United States kegs market is projected to attain market value of US$ 325.7 Million by 2033, growing at a CAGR of 5.2% in the coming years. Increasing automation in the industry, thanks to technologies like smart sensors, APIs, software, and cloud databases, is propelling market growth in the country.
- China market is estimated to grow at the fastest growth rate of 6% CAGR, to arrive at US$ 167.7 Million by 2033. The growing application of kegs in beverages and pharmaceutical sectors is leading the market expansion.
- The United Kingdom kegs market is expected to achieve a market valuation of US$ 81.5 Million by 2033 end, exhibiting a CAGR of 4.9% in the coming years. Increasing efforts by the keg manufacturers to release new products with breakthrough technology and authorized by formal regulatory bodies.
- The market is observing increasing preference for kegs having a capacity of 20L to 40L. Large breweries, bars, and restaurants are making use of kegs with this much capacity to preserve beverages, alcoholic or non-alcoholic. The ever-increasing growth of beverage sector is predicted to keep up the demand for kegs.
Business Growth Drivers:
- Increasing Beer Consumption: The growing popularity of craft beer and changing consumer preferences toward premium and specialty beers have led to an increase in beer consumption globally, consequently driving the demand for kegs.
- Rising Demand for Draft Beer: Restaurants, bars, and pubs are witnessing a surge in the demand for draft beer due to its freshness and taste. This trend is boosting the adoption of kegs as a preferred packaging option for breweries.
- Expansion of Brewery Businesses: The proliferation of microbreweries and craft breweries worldwide is driving the demand for kegs. These breweries often opt for kegs over bottles or cans due to cost-effectiveness and sustainability.
- Innovations in Keg Technology: Manufacturers are constantly innovating to improve keg design, materials, and features such as keg tracking systems and smart keg technologies. These advancements attract breweries looking for efficiency, quality control, and better inventory management.
- Environmental Awareness: With increasing environmental concerns, there’s a growing preference for reusable and recyclable packaging solutions. Kegs, being refillable and recyclable, align well with sustainable business practices, driving their adoption.
- Emerging Markets: Developing economies experiencing a rise in disposable incomes and urbanization are witnessing a shift towards western drinking habits, including beer consumption. This presents significant growth opportunities for the kegs market in regions such as Asia-Pacific and Latin America.
The Key Players Are:
- Ardagh Group S.A
- Petainer UK Holdings Ltd.
- Blefa GmbH
- Schaefer Container Systems
- The Metal Drum Company
- Julius Kleemann GmbH & Co KG
- THIELMANN – The Container Company
- American Keg Company
- NDL Keg Inc.
- Shinhan Industrial Co, Ltd.
- Ningbo BestFriends Beverage Containers Co. Ltd.
- Maisonneuve Group
New Developments Shaping up the Kegs Market:
- In January 2021, Petainer UK Holdings Ltd. announced the opening of its new facility for manufacturing a one-way keg range in Thailand.
- In September 2020, THIELMANN- The Container Company announced to open of its second keg servicing hub in Newark during mid-October to facilitate better access to services.
- In January 2020, Blefa GmbH (Blefa Kegs, Inc.) announced the partnership with American Keg, LLC for the production of kegs beer made in the USA, which will help the company to improve its production capacity and its efficiency.
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Given Below are the Kegs Market Segments
Capacity:
- Upto 20 L
- 20 L to 40 L
- 40 L to 60 L
- Above 60 L
- Material:
- Plastic
- Tin
- Stainless Steel
End Use:
- Alcoholic Beverages
- Beer
- Wine
- Spirits
- Cider
- Non-Alcoholic Beverages
- Soft-Drinks
- RTD Beverages
- Juices
- Others
- Cooking Oil
- Chemicals
- Others
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Disposable Cutlery Market Growth, Demands and Trends Forecast Period