The competitive landscape of the global liquid packaging market features a large pool of companies consisting of both domestic as well as international players. Because of this, the vendor landscape of the global market is a fragmented one as well as highly competitive. The competition in the liquid packaging market is only expected to intensify as the years progress. The leading companies in the market are focusing on the development of highly advanced and technologically sound products that will strengthen their product portfolio. Furthermore, they are also investing heavily in the activities of research and development as to stay ahead of their competition. Such developments are expected to contribute to the overall development of the global liquid packaging market.
Some of the other leading companies in the global liquid packaging market are expected to adopt aggressive marketing strategies in order to stay ahead of the competitive curve. These companies are expected to adopt strategies such as mergers, acquisitions, joint ventures, and strategic partnerships in order to beat their business rivals. Such activities too are expected to help further flourishing of the global liquid packaging market. Some of the notable names in the global market are Evergreen Packaging Inc., Tetra Laval International SA, Liqui-Box Corporation, Comar LLC, and BillerudKorsnas AB among others. In 2016, a well-known alcoholic beverage maker, Jim Beam, decided to rebrand its packaging strategy for its wide range of products. This supported the company to bolster its position in the market and strengthen its brand image in the global liquid packaging market.
A recent report published by Transparency Market Research expects the global liquid packaging market to exhibit a promising CAGR for the projection period of 2017 to 2025. According to the research report, the global market is expected to be dominated by the segment of rigid packaging in the coming few years of the forecast period. The segmented accounted for the highest revenue share of the market back in the year 2016.
Asia Pacific to Show Maximum Growth Potential
On the other hand, in terms of geographical segmentation, the global liquid packaging market is expected to be led by the region of Asia Pacific. The growth of the region is mainly attributed to the rapid development of the end-use application industries such as pharmaceutical and food and beverages. In addition to this, favorable government regulations and norms coupled with improvement in the manufacturing services because of the low cost of labor and production is further expected to fuel the development of the Asia Pacific region.
There are several factors that are helping to push the development of the global liquid packaging market. One of the biggest driving factor for the market growth in recent years has been the significant rise in the activities of research and development conducted by the major players. Moreover, growing focus on using and developing advanced packaging technologies has also provided great impetus to the overall development of the global liquid packaging market.
Increasing Customization Trend to Help in Market Development
A key trend that has been observed in the global market is of increasing customization. With the technological advancements as well as creative marketing campaigns or promotions, customized packaging is gaining immense popularity. Naturally, several brands are keen to adopt customized packaging and thus in turn, help the overall growth of the global liquid packaging market.
The report segments the global liquid packaging market as follows:
- Drums & Containers
- Aseptic Packaging
- Modified Atmosphere Packaging
- Vacuum Packaging
- Intelligent Packaging
- Food & Beverage
- Personal Care
- Household Care
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of MEA
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