Increase in focus on health and fitness is estimated to propel the demand for bottled water in developed countries. This trend is likely to continue during the forecast period, making the expansion of end-use industries a key driver of the liquid packaging market. Increasing focus on health and hygiene is driving the consumption of bottled water in developing countries such as India, China, and countries in GCC. Increase in the demand for packaged drinking water is estimated to propel the global liquid packaging market. Minimalistic packaging design that is elegant and simple and creation of appealing aesthetics by eliminating non-essential content are expected to be key trends in the next few years.
The global demand for Liquid Packaging stood nearly US$ 428.5 Bn in 2018 and is projected to reach over US$ 657.5 Bn by 2027. Changes in consumer behavior and a rise in the number of people migrating from rural to urban areas are driving the liquid packaging market. Liquid packaging is widely utilized in the food & beverage industry in order to facilitate the transport of liquid goods and to increase the shelf-life of products. Expansion of the food & beverage sector, particularly in Asia Pacific, is driving the demand for liquid packaging. Increasing focus on the health and hygiene is driving the consumption of bottled water in developing countries such as India, China, and countries in GCC. This rise in demand for packaged drinking water is estimated to drive the global liquid packaging market. Additionally, increasing focus on building brand image through packaging and shift in consumer behavior are also anticipated to propel the liquid packaging market. Furthermore, high fixed investment expenditures and increasing levels of personal income are likely to propel for liquid packaging.
Food and Beverage Segment to Become Most Promising Segment in Coming Years
In terms of product type, rigid packaging held majority of the share in global liquid packaging market in 2018. The rigid packaging segment can be further split into paperboard, bottles, cans, drums & containers, and others. The significant market share is attributed to the excessive usage of plastic bottles in the food & beverage, pharmaceutical, and personal care end-user industries. Plastics segment dominated the global liquid packaging market by raw material in 2018. The high share is attributed to the excellent cost-to-performance ratio, lightweight, and portability of plastic. In terms of technique, the liquid packaging market has been segregated into aseptic packaging, modified atmosphere packaging, vacuum packaging, and intelligent packaging. Modified atmosphere packaging was the dominant technique segment, accounting for a major share of the market in 2018. Food & beverage end-use segment accounted for more than 25% share in global liquid packaging market. The food & beverage segment is anticipated to expand at a significant growth rate during the forecast period. Expansion of the segment is attributed to the increasing focus on health and hygiene, which is driving the consumption of bottled water in developing countries such as India, China, and countries in GCC.
Shaping Up of Regional Segmentation
The market in North America is expected to expand at a moderate growth rate during the forecast period. The significant contribution from the U.S., which is considered to be a prominent market for liquid packaging, and the increasing usage of paper products in the region are expected to drive the demand for liquid packaging in North America in the near future. The European liquid packaging market is likely to growth at a moderate pace owing to demand from food & beverages and cosmetics industries. Plastics & paper liquid packaging product are anticipated to grow at a decent pace as consumers and manufacturers tend to avoid glass & metal packaged products as they add-on shipping & operation cost.
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