Global Liquid Packaging Market: Key Highlights
- 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.
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- 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.
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Global Liquid Packaging Market: Segmental Insights
- In terms of packaging type, the liquid packaging market can be classified into flexible and rigid. The flexible packaging segment can be further sub-segmented into films, sachets, pouches, and others. The rigid packaging segment can be further split into paperboard, bottles, cans, drums & containers, and others. In terms of value, rigid packaging was the dominant segment, accounting for more than 85% share of the market in 2018.
- Rigid packaging is extensively utilized to manufacture packaging for beverages, and pharmaceutical drugs. This is due to the excellent properties of rigid packaging such as ease of transport and carrying and excellent shelf-life. However, the liquid packaging market has witnessed increasing usage of flexible materials for packaging liquid over the last few years.
- In terms of raw material, plastics which encompasses materials such as PET, PP, PE, and others was the dominant segment, accounting for about 50% share of the market in 2018. Plastics are widely employed in the manufacturing of packaging for various industries such as food & beverage, pharmaceutical, personal care, and household care.
- The paper segment, owing to its excellent properties such as high recyclability and better environmental protection, is expected to expand at a considerable growth rate during the forecast period. Suppliers of paper packaging such as paperboard boxes and container-s have increased their manufacturing capacities in order to respond to the dynamic market conditions.
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Global Liquid Packaging Market: Regional Insights
- In terms of region, Asia Pacific witnessed significant demand for liquid packaging, accounting for over 37% share of the market in 2018. This is due to the expansion of food & beverage and pharmaceutical sectors, favorable government policies for manufacturers, and the shifting of the production facilities by major players due to the low labor and operating costs.
- 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 as a prominent market for liquid packaging, and increasing usage of paper products in the region are expected to drive the demand for liquid packaging in North America in the near future.
- In 2018, Europe hold more than 20% share in global liquid packaging market. Europe is a manufacturing hub for wine & spirits and cosmetic products. High demand from these end-use industries is likely to drive the market in the region during the forecast period.
Global Liquid Packaging Market: Competition Landscape
- Key players covered in this report include
- Tetra Laval International S.A.
- Comar LLC
- Evergreen Packaging Inc.
- Liqui-Box Corporation
- BillerudKorsnäs AB
- International Paper Company
- Klabin Paper
- Nippon Paper Industries Co., Ltd.
- Smurfit Kappa Group
- The DOW Chemical Company
- Mondi PLC.
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