A comprehensive overview of the Kegs market is recently added by UnivDatos Market Insights to its humongous database. The Kegs report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Kegs market. The Kegs report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates Kegs at the global and regional levels. The Kegs Market is expected to grow at a CAGR of around 5% from 2021-2027.
Market Overview
A rise in tourism across the globe is one of the prominent factors, which is driving the market for kegs owing to the opening of new hotels, restaurants, etc. As per the World Bank, the number of international tourists reached 2.28 billion in 2019, up from 1.96 billion in 2015. According to the World Bank, the number of international departures more than doubled between 1997 and 2017, from 687 million to 1.57 billion per annum.
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The rising consumption of various non-alcoholic beverages such as juices, purees, sauces, soft drinks, carbonated drinks, among others owing to the rising disposable income, improved living standards, trending culture of partying outside among millenniums, etc., is contributing to the growing demand for kegs. For instance, in India, soft drinks consumption was 44 bottles per capita in 2016 which is under-penetration and is likely to double to 84 bottles by 2021. As per a survey by Heineken USA, 52% of respondents had increased the consumption of alcohol-free beer and mocktails.
COVID-19 Impact
The demand for kegs was adversely impacted by the COVID-19 pandemic. The lockdown across cities coupled with the complete shutdown of restaurants and bars and other retail shops resulted in decreased demand for alcoholic beverages which ultimately has an adverse impact on the kegs market. Moreover, trade restrictions by the government, imbalanced supply of raw material, disrupted supply chain, etc. also hinder the market growth of kegs during the COVID-19 pandemic.
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The Kegs Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Material Type, the market is primarily bifurcated into
• Plastic
• Tin
• Stainless Steel
The stainless steel segment gathered a major market share of Kegs in 2020 and grabbed X% market share. The stainless steel kegs are safe, are inexpensive to handle, and they’re a low cost per glass of draft beer – which explains their popularity. Hillebrand estimates stainless steel kegs are used on an average of 150 times in 30 years (at five turns per year), due to which they are more in demand.
By End-User, the market is primarily bifurcated into
• Alcoholic Beverages
• Non- Alcoholic Beverages
• Cooking Oil
• Chemicals
• Others
The alcoholic beverage segment grabbed a major market in 2020. The key factors which are leading to the growth of this segment are the increasing number of breweries and wineries outlets, changing preference of consumers towards the drinks, especially for premium and super-premium drinks, rising trend of socializing and organizing parties among youngsters, rapid urbanization, and inclinations towards flavored alcohol and mixed drinks.
Kegs Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the European region grabbed a major market share in 2020. An increase in disposable income among consumers coupled with the rising alcohol consumption in the region is leading to the growth of the market. However, the North America region would witness a considerable CAGR in the forthcoming years. A growing trend of partying out among millenniums, growing awareness about alcohol-free beer and mocktails across countries such as the U.S and Canada is contributing to the growing demand for kegs
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The major players targeting the market includes
• 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.
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Kegs market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Kegs Market?
· Which factors are influencing the Kegs market over the forecast period?
· What are the global challenges, threats, and risks in the Kegs Market?
· Which factors are propelling and restraining the Kegs Market?
· What are the demanding global regions of the Kegs Market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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