Albany, N.Y. – Global Liquid Packaging Market : Highlights
The global Liquid packaging market is projected to grow at a CAGR of nearly 5% between 2019 and 2027. Expansion of the global liquid packaging market is driven by the increase in consumption of beverage, along with an increase in focus on brand image through innovative packaging.
The food & beverage industry has been a key driver of the global liquid packaging market. Expansion of the packaged food industry is anticipated to boost the demand for liquid packaging during the forecast period. Additionally, rise in consumption of aerated drinks is likely to drive the liquid packaging market in the near future.
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.
Global Liquid Packaging Market: Segmental Trends
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.
The flexible packaging segment can be further sub-segmented into films,sachets, pouches, and others.
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.
Global Liquid Packaging Market: Regional Highlights
Asia Pacific witnessed a significant demand for liquid packaging in 2018, accounting for more than 35% 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 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.
Key Developments in Global Liquid Packaging Market
In March 2020, Smurfit Kappa’s TopClip solution launched by beer brewer Royal Grolsch as a paper-based replacement for the plastic shrink wrap currently used on their can multi-packs.
In March 2020, Smurfit Kappa launched a new tap for soft drink and wine dispenser used in Bag-in-box packaging.
In February 2020, Liquibox acquired DS Smith plc’s plastic division to strengthen flexible packaging and dispensers business. This has also expanded range of bag, films and dispensing fitments to global customers.
In February 2020, Smurfit Kappa announced its strategy to expand in Americas with an investment of US$ 36 Mn for paper sack business. This will strengthen Smurfit Kappa’s customer offerings.
In November 2019, Smurfit Kappa launched new corrugated packaging solution for single-use plastic used in bundling bottled and canned beverages.
In October 2019, International Paper APPM Limited sold its printing paper business to West Coast Paper Mills Limited to pursue alternative investment opportunities.
In October 2019, Smurfit Kappa joined with HVC and Bluemats companies for the first full beverage carton recycling plant in the Netherlands.
In August 2018, Comar introduced SecureCap® QuarterLoc™ child resistant closure, a one-piece push-and-turn bottle closure that requires only a quarter turn to apply or remove.
Global Liquid Packaging Market: Competition Landscape
Brand managers are under pressure to develop new products with differentiation owing to an extremely competitive and fast-moving consumer market. Packaging design is a key driver for sales, as consumers have become brand conscious.
Companies operating in the global market for liquid packaging are focusing on in-licensing and collaboration agreements in order to launch new products in emerging markets such as Asia Pacific, and Latin America.
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, and Mondi PLC.
Source : https://www.transparencymarketresearch.com/liquid-packaging-market.html