"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.

"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.

"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.

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 study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Kegs market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Kegs market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Kegs market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Kegs market?
• Which is the largest regional market for Kegs market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Kegs market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Kegs market worldwide?