USD 19.3 billion
Report ID: SQSG15H2007 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 121 | Figures: 77
Liquid Packaging Carton Market size was valued at USD 19.3 billion in 2021 and is poised to grow from USD 20.42 billion in 2022 to USD 33.92 billion by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).
Liquid packing cartons are primarily used to package beverages and dairy goods to provide appropriate preservation, convenience, and other benefits such as damage protection. They are usually made of paperboard, aluminium, and plastic. These containers make it possible to transport liquid food products such as soft drinks and juices in a safe and convenient manner. They also protect the liquid food product from contamination and other hazards. These are in high demand among manufacturers due to their numerous advantages such as manoeuvrability, recyclability, ease, and eco-friendliness. They are available in a variety of forms and sizes depending on the application, and they are also simple to manufacture as needed. Growing environmental concerns about the use of plastic packaging, the recyclable nature of carton packs, and the convenience of glass packaging are some of the factors that will drive liquid packaging carton market expansion in the next years. However, the widespread usage of plastic packaging as an alternative to carton packaging may limit market growth. The primary rivals for liquid packing cartons are high density polyethylene (HDPE) and polyethylene terephthalate (PET). Some of the variables that will regulate the market are demographics, economics, and sustainability. Packaging technology innovation and the usage of renewable materials may offer up considerable potential opportunities for the market.
US Liquid Packaging Carton Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 19.3 billion
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Global liquid packaging carton market is segmented based on product, material, opening type, application, and region. Based on product, Liquid Packaging Carton Market is segmented into brick cartons, gable top cartons, shaped cartons. Based on material, Liquid Packaging Carton Market is segmented into uncoated paperboard, LDPE coated, aluminium. Based on opening type Liquid Packaging Carton Market is segmented as cut opening, straw hole opening, clip opening, twist opening, king twist opening. Based on application, Liquid Packaging Carton Market is segmented as dairy products, juice & drinks, industrials & institutional, other products. Based on region, Liquid Packaging Carton Market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa.
Liquid Packaging Carton Market Analysis by Product:
Over the anticipated time period, brick cartons are expected to offer a total incremental opportunity of more than US$ 4.7 billion. Brick cartons provide tamper-proof packaging for juices, milk, and other liquid items. These containers extend the product's shelf life and protect it from the hostile exterior environment.
Brick cartons currently have a market share of 55 percent. Due to widespread appeal of brick cartons, manufacturers and end users will find attractive growth potential both in the short and long run.
Liquid Packaging Carton Market Analysis by Application:
Over the next decade, industrial and institutional applications of liquid packing cartons are predicted to grow at a CAGR of 5%. Liquid packing cartons of various sizes are utilized in a variety of industries, from packaging finished items to supplying industry raw materials such as oil and lubricants.
Liquid packaging cartons are the preferred packaging solution for industrial and institutional applications due to their robustness and durability. Revenues are estimated to exceed US$ 4.2 billion by 2031.
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Based on region, global liquid packaging carton market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. The expansion of the liquid packing carton in North America is ascribed to factors such as increased consumer desire for ready-to-transport, convenient items and the carton's eco-friendliness. Asia Pacific is one of the fastest expanding regions in the global liquid packaging carton market. The primary factors driving market expansion are rise in population, an increase in disposable income, and sustained economic growth in Asia-Pacific. This packaging sector in Germany, which is dominant in liquid dairy goods, is fuelling the rise of the European liquid packaging carton market. With increased demand and spending trends, the Latin American market is likely to recover. The Middle East and Africa are predicted to grow rapidly due to key market drivers such as rising demand, technical advancements in the packaging sector, eco-friendly nature, and others.
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The global liquid packaging carton market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions
Top Players in the Global Liquid Packaging Carton Market
Liquid Packaging Carton Market Recent Developments
June 2020 - ELOPAK AS introduced a new product line called Pure-Pak Imagine, which is one of the most environmentally friendly cartons. It is a modernized version of the original Pure-Pak carton, featuring an easy-open function.
Clover Sonoma has teamed with Evergreen Packaging to transition its half-gallon organic milk to the PlantCarton container with Renewable Plus Cartons in October 2020.
Nippon Paper Industries Co. Ltd has created a straw-free paper pack for school milk, NP-PAK mini-School POP, which will be available in September 2020.
Tetra Pak has announced the introduction of certified recycled polymers, making the company the first in the food and beverage packaging industry to get the Roundtable on Sustainable Biomaterials (RSB) Advanced Products accreditation.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global liquid packaging carton market analysis, during the assessment period, the market is expected to see the fastest rise in sales of liquid carton packing. Asia Pacific is predicted to have the fastest growth in the global liquid carton packaging market. The growing consumption of ready-to-drink beverages, as well as the demand for packaged milk, juices, and soft drinks, are the primary reasons driving liquid carton packaging sales. Another element changing the liquid carton packaging market is the ease of transporting liquid items and the introduction of intelligent packaging.
|Market size value in 2021||USD 19.3 billion|
|Market size value in 2030||USD 20.42 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Liquid Packaging Carton Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Liquid Packaging Carton Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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