According to a new report published
by Allied Market Research, titled,"Liquid Packaging Carton Market by Carton Type, Shelf Life, and End User:
Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global liquid packaging carton market accounted
for revenue of $14,310 million in 2017, and is anticipated to reach $20,747
million by 2025, registering a CAGR of 4.7% from 2018 to 2025.
A liquid packaging carton allows safe
transportation and storage of products such as juice, milk, and other fluids.
Liquid packaging cartons are available in various sizes and shapes and are easy
to design. As these can be shaped in manner, these cartons cater to the
requirement of the packager.
Factors such as upsurge in consumer
demand for ready-to-carry & convenient products and eco-friendly nature of
paperboard cartons fuel the growth of the liquid packaging carton market. In
addition, there are a lot of advantages offered by liquid packaging cartons.
These are easily moldable, cheap, sustainable, and renewable as compared to the
conventional packaging systems and supplement the market growth. In addition,
favorable characteristics such as lightweight, extended shelf life, and
biodegradable property of liquid packaging cartons significantly boost their
demand across various end-use industries, thereby contributing growth in the
liquid packaging carton market trends. However, high competition from plastic
packaging is a factor, which restrains the liquid packaging carton market
growth.
New and innovative materials make way
for environmentally friendly packaging with the development of the global
liquid packaging carton market. Incremental gains in lightweight board grades
and introduction of recycled paper content, and environmental pressures from
brands and consumers are pushing the market toward the adoption of eco-friendly
materials.
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The global liquid packaging carton
market is segmented based on type, shelf life, end use, and region. By type,
the market is categorized into brick liquid cartons, gable top cartons, and
shaped liquid cartons. Based on shelf life, it is classified into long shelf
life cartons, and short shelf life cartons. Based on end use, it is segregated
into liquid dairy products, non-carbonated soft drinks, liquid foods, alcoholic
drinks, and others. Based on region, it is analyzed across North America,
Europe, Asia-Pacific, and LAMEA.
Based on type, the brick liquid
carton segment garnered the largest share of over 41.4% in 2017. This is
attributed to the fact that manufacturers opt for low-cost brick carton
packaging materials, due to their cost-effectiveness to reduce overall cost of
production. This allows manufacturers to produce brick liquid carton at
relatively low cost, which is the key factor driving its adoption.
Based on end use, in 2017, the liquid dairy products segment dominated,
accounting for 69% in liquid packaging carton market share, and is further
projected to reach $14,351.6 million by the end of 2025, with a CAGR of 4.6%
from 2018 to 2025.
The key players operating in the
global liquid packaging carton market include Greatview Aseptic Packaging Co.,
Ltd., BillerudKorsns AB, Tetra Laval International S.A. Nippon Paper Industries
Co., Ltd., Smurfit Kappa and Reynolds Group Holdings Limited. Other prominent
players are the Liqui-Box, ONEX Corporation, Ferd, and Adam Pack SA. In order
to saty competitive in the liquid packaging carton industry, these market
players are adopting different strategies such as acquisition, partnership,
product launch and merger. In an instance, Evergreen Packaging LLC., subsidiary
of Reynolds Group Holdings Limited has launched plant-based packaging solutions
named PlantCarton. This product launch has reinforced company's product
portfolio.
Key Findings of the Liquid Packaging
Carton Market:
·
The North America liquid packaging
carton market size is projected to grow at a CAGR of nearly 4%, in terms of
revenue.
·
The Asia-Pacific liquid packaging
carton market is anticipated to witness the highest growth rate, with a CAGR of
5.3% in terms of revenue.
·
The long shelf life carton segment
dominated the liquid packaging carton market with a volume share of over 69.1%
in 2017.
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