Global Liquid Packaging Cartons Market to Exceed $11.6 Billion by 2024 - Asia-Pacific to Witness the Fastest Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 24, 2019--
The “Liquid Packaging Cartons Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The liquid packaging carton market was valued at USD 9.73 billion in 2018, and is expected to reach a value of USD 11.65 billion by 2024, with a CAGR of 3.06 % over the forecast period (2019-2024).
The liquid packaging carton market is steadily growing compared to other packaging products available like plastics and glass packaging. Increase in disposable income is one of the major factors contributing to the growth of this industry.
- The liquid packaging cartons are primarily utilized for dairy products, soft drinks, and water catering in diverse shapes and sizes to various consumers. The rising preference for easy-to-carry liquid foods is expected to boost the demand for these packaging cartons, thereby, fueling the market growth. The changing lifestyle of people coupled with the convenience of utilizing carton packaging is projected to propel the market.
- On the flip side, the availability of substitutes like glass and plastic products are hampering the growth of this market. The cost of producing plastics is comparatively low and also requires less energy consumption while manufacturing them.
- Nevertheless, liquid packaging cartons have an edge over the glass and plastic packaging, in terms of environmental-friendliness and recyclability of the material, which mitigates the wastage and reduces the product cost.
- In November 2018, Zumosol in Spain partnered with Elopak and switched from plastic bottles to sustainable beverage cartons. They found the new carton packaging to be more natural and sustainably fit for its organic portfolio. This also resulted in reduced carbon footprint and reduced weight, which provided a naturally different, sustainable, and authentic package.
Key Market Trends
Dairy Products Occupy a Notable Share in the Market
- According to the Food and Agriculture Organization of the United Nations, the dairy product demand in the developed and developing countries has been increasing for the past few years.
- As the population and income increases, and diets become more globalized, dairy products are expected to be consumed specifically in developing countries.
- The worldwide demand for processed milk and juices has also increased over the recent years. While processed milk and dairy products have played a significant role in shaping the liquid packaging cartons industry, particularly in the North American region, the growing demand for fruit juice worldwide, which rose to 35 billion liters in 2017 has also been crucial to the market growth.
- As people are becoming aware of the benefits of carton packaging, they are shifting from other packaging materials toward paperboard containers. In the United States, milk solids will see a tremendous growth and this will supplement the liquid packaging carton market.
Asia-Pacific to Witness the Fastest Growth During the Forecast Period
- Asia-Pacific is dominated by the population of China and India and in these two countries, the increase in disposable income and the constantly growing rate of these countries will act as a supplement for the growth of the liquid packaging carton market.
- According to the Food and Agriculture Organization of the United Nations, India and Pakistan will contribute the maximum production of milk in the upcoming years. India is the developing nation and the increase in the paper cardboard has been observed on account of factors, such as the increasing FMCG as well as the food and beverage sector. This is being supported by the government of India as well because plastic carry bags are banned in India. This movement has acted as the stimulator for the majority of the people in India.
The liquid packaging market is quite fragmented because of the presence of large players like Elopak, Evergreen Packaging LLC, etc., and local players in this industry. Moreover, the rising partnerships and mergers and acquisitions are predicted to supplement the market growth for this industry in the upcoming years.
The growing environmental concerns like overutilization of plastic packaging, recyclable nature of carton packs, and convenience over the use of glass packaging are some of the factors that will help in boosting the liquid packaging industry. Innovations in liquid packaging like the use of recycled paper and lightweight packaging are the drivers for this industry.
- March 2019 - Tetra Pak, planned to be the supplier of full-color digital printing on its carton packages, by collaborating with Koenig & Bauer. This will offer the brands to continue to look for opportunities to deliver greater customization and personalization of their products while placing their orders.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Value Chain / Supply Chain Analysis
4.3 Introduction to Market Drivers and Restraints
4.4 Market Drivers
4.4.1 Rising Demand for Environment-friendly Packaging
4.4.2 Changing Consumer Lifestyle and Preferences
4.5 Market Restraints
4.5.1 Competition from Substitutes such as Glass and Plastic Packaging
4.6 Industry Attractiveness - Porter’s Five Forces Analysis
4.7 Industry Regulations and Policies
5 MARKET SEGMENTATION
5.1 By Liquid Type
5.1.4 Energy Drinks
5.1.5 Alcoholic Beverages
5.1.6 Other Liquid Types
5.2.1 North America
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.2.4 Latin America
126.96.36.199 Rest of Latin America
5.2.5 Middle East & Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Elopak AS
6.1.2 Evergreen Packaging LLC
6.1.3 Greatview Aseptic Packaging Co. Ltd.
6.1.4 Klabin S.A.
6.1.5 Refresco Group N.V.
6.1.6 SIG Global Pte. Ltd.
6.1.7 Tetra Laval International S.A.
6.1.8 Nippon Paper Industries Co. Ltd.
6.1.9 Smurfit Kappa Group PLC
6.1.10 Assemblies Unlimited Inc.
7 INVESTMENT OUTLOOK
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/b5wuoo
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INDUSTRY KEYWORD: MANUFACTURING PACKAGING
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/24/2019 01:48 PM/DISC: 05/24/2019 01:48 PM