Published: Nov, 2018
Key players dominating the global liquid packaging market are Comar LLC, BillerudKorsnäs AB, Evergreen Packaging Inc., Tetra Laval International S.A., and Liqui-Box Corporation, for an example, in 2016, Jim Beam, one of the leading alcoholic beverage firm rebranded the packaging for the various product range. The new strategy helped the organization to improve its values to customers and build-up a brand image in the global alcoholic beverages market.
According to a report by Transparency Market Research (TMR), the global liquid packaging market is expected to project a steady CAGR of 4% during the forecast period from 2017 and 2025. In 2016, the market was estimated to be worth of US$ 394 Bn.
On the basis of packaging type, rigid packaging segment is leading the global liquid packaging market, holding around 88% of market share, back in 2016, as per the value. Geography-wise, the market is dominated by Asia Pacific with major share in the global market and is foreseen to sustain its position in the forecast period as well. The significant development in this region is credited to the quick development of the food and beverage and pharmaceuticals sectors. Moreover, the supportive government regulations and the change in manufacturing services by the leading players, due to the reduced operating prices and labor are other significant factors fueling the market growth.
Growth in Food and Beverages Industry to Surge Market Demand
The development in food and beverages sector has been a key factor contributing in the growth of the packaging business across the world. Development of the packaged food sector is foreseen to help the demand for liquid packaging in the forecast period from 2017 to 2025. Moreover, increase in utilization of aerated beverages is estimated to drive the liquid packaging market in the coming years. Rise in focus on fitness and health is assessed to push the demand for filtered water in developed nations. This pattern is anticipated to rise within the forecast period, helping the demand in end-use enterprises a key driver of the liquid packaging market. Rise in focus on hygiene and health is boosting the utilization of filtered water in developing nations, for example, China, India, and nations in GCC. Surging demand for packaged drinking water is assessed to impel the global liquid packaging market.
Rising Consumer Base to Hinder Market Growth
Brand managers are facing hindrance in growth of new products with variations owing to rapidly-growing consumer base and competitive scenario. Packaging configuration is a major factor behind the sales, as buyers have moved toward becoming brand cognizant. A few factors, for example, requirement for inventive packaging design with the end goal to pull in customers and the need to separate items from others have turned out to be essential for a brand's term growth. Moderate packaging designs that is basic and rich creation of engaging aesthetics by removing unimportant content are likely to be major trends in the following couple of years. Moreover, the increasing popularity of sparkling water is foreseen to drive the liquid packaging market as well.
The review is based on the findings of a report by Transparency Market Research, titled “Liquid Packaging Market (Packaging Type - Flexible (Films, Sachets, Pouches), Rigid (Paperboard, Bottles, Cans, Drums and Containers); Raw Material - Plastics (PET, PP, PE), Paper, Metal, Glass; Technique - Aseptic Packaging, Modified Atmosphere Packaging, Vacuum Packaging, Intelligent Packaging; End use - Food and Beverage, Personal Care, Pharmaceuticals, Chemicals, Household Care, Petrochemicals) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
The report segments the global liquid packaging market as follows:
Global liquid packaging market, by packaging type
- Drums & Containers
Global liquid packaging market, by raw material
Global liquid packaging market, by technique
- Aseptic Packaging
- Modified Atmosphere Packaging
- Vacuum Packaging
- Intelligent Packaging
Global liquid packaging market, by end-use industry
- Food & Beverage
- Personal Care
- Household Care
Global Liquid Packaging Market, by Geography
- 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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