A large network of suppliers and an ample number of keg-based firms in the USA is propelling the market growth.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, October 31, 2023 /EINPresswire.com/ -- The kegs market is predicted to grow at a CAGR of 4.5% over the forecast period, according to FMI’s analysis. The industry's estimated value is predicted to increase from US$ 939 Million in 2023 to US$ 1.5 Billion by 2033.

Looking ahead, we anticipate a surge in the demand for stainless steel barrel kegs, with the leading five suppliers projected to command a substantial 40-45% share of the kegs market in the year 2023. As we progress towards 2033, it is anticipated that Western Europe and North America will collectively account for around half of the global kegs market.

The kegs market is expected to rise over the forecast period owing to heightened awareness regarding environmental conservation and sustainability. This has led many keg-based companies to introduce sustainable kegs. Such kegs are safe for the environment as they do not undergo environment-harming processes during their maintenance or production. Stainless steel is the prime example of popular high-quality, eco-friendly kegs available in the market.

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In the years to come, the kegs market is predicted to be stimulated by the introduction of new technology to and improve keg palatability. Furthermore, the launch of rubber steel kegs for greater ergonomic handling of alcoholic beverages is anticipated to strengthen market growth in the future.

Key Takeaways:

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.

Leading Players

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 June 2022, Ara Partners ("Ara") unveiled that it has acquired Petainer Ltd., a global producer of sustainable beverage packaging solutions based in the UK. Ara collaborated with Next Wave Partners LLP affiliates and Petainer Management to make this acquisition.

In May 2022, BLEFA got together with other major companies dealing in keg supply chain to introduce new Steel Keg Association (SKA) to provide the advantages of steel kegs to beverage companies and breweries, as well as restaurants and bars.

In May 2021, Lumiere Technologies turned into a new Indian partner of BLEFA. The company is based in Bangalore, and is a subsidiary of the SpectraA Group. The latter is a famous company in the Indian brewery industry as it offers breweries with one-stop platform for all solutions. Likewise, the firm offers a comprehensive solution to soft drink plants, food & beverage establishments, distilleries, and other businesses.

In January 2020, Blefa Kegs and American Keg revealed technological investment and considerable equity by Blefa in the future growth of American Keg. With this agreement, American Keg is forecast to witness robust growth in employment and production over time.

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Market Segmentation

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

Region:

North America
Latin America
Western Europe
Eastern Europe
Asia-Pacific excluding Japan (APEJ)
Japan
Middle East and Africa (MEA)

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
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