Newark, June 06, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global liquid packaging cartons market is expected to grow from USD 13.61 Billion in 2021 to USD 21.38 Billion by 2030, at a CAGR of 5.15% during the forecast period 2022-2030.
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The increasing inclination of the general population against packaged food & drinks is anticipated to expand demand for the liquid packaging cartons market during the projection period. Further, the innovation in packaging, the increasing industrialization & urbanization, and the recyclable nature of cartons are the driving factors of the market growth. Additionally, the ever-increasing environmental problems regarding the overuse of plastic materials for packaging and convenience over the use of glass packaging are the driving factors of the market growth. However, the higher price of liquid packaging cartons compared to the available choices and multiple substitute materials for packaging liquid food products are the restraining factors of the market growth. Furthermore, the innovation in packaging technology, the usage of renewable materials, and the development in the retail industry across the developed and developing regions are opportunities for market growth.
Competitive Strategy
To enhance their market position in the global liquid packaging cartons market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, in 2019, Brownes Dairy declared plans to substitute its current milk cartons with a carton package entirely made from plant-based, renewable materials.
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Market Growth & Trends
The growth of the liquid packaging cartons market is driven by the increasing awareness about safe and secure liquid packaging cartons solutions in developing countries. Moreover, the rising demand for large-size liquid packaging cartons is anticipated to drive the liquid packaging cartons market growth. Besides, the ever-increasing trend of shaped cartons for advertising & promotional tools to build brand awareness is expected to support the market growth. Additionally, the rising trend of consuming wine & spirits among the customers is anticipated to accelerate market growth over the projection period. Due to improvements & progress in technology, manufacturers are turning their focus from glass spirit packaging from glass to aseptic carton packaging solutions. Moreover, carton packaging also reduces the general packaging cost & offers easy product handling. This is anticipated to fuel the liquid packaging cartons market growth.
Key Findings
• In 2021, the brick liquid carton segment dominated the market with the largest market share of 40.21% and market revenue of 5.47 billion.
The type segment is divided into gable-top liquid cartons, brick liquid cartons, and shaped liquid cartons. In 2021, the brick liquid carton segment dominated the market with the largest market share of 40.21% and market revenue of 5.47 billion. This growth is attributed to the proliferation disposable income and purchasing power.
• In 2021, the dairy products segment dominated the market with the largest market share of 43.06% and market revenue of 5.86 billion.
The application segment is divided into juice, dairy products, and others. In 2021, the dairy products segment dominated the market with the largest market share of 43.06% and market revenue of 5.86 billion. Dairy products have a shorter shelf life as compared to other beverages. Also, the rising distribution of dairy products via organized retail channels has raised the demand for dairy packaging worldwide.
• In 2021, the long-term shelf life segment dominated the market with the largest market share of 56.12% and market revenue of 7.63 billion.
The shelf life segment is divided into long-term shelf life and short-term shelf life. In 2021, the long-term shelf life segment dominated the market with the largest market share of 56.12% and market revenue of 7.63 billion. This growth is attributed to the increased usage of dairy & liquid food products, which are perishable in the absence of controlled storage conditions.
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Regional Segment Analysis of the Liquid Packaging Cartons Market:
• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region occurred as the largest market for the global liquid packaging cartons market with a market share of 47.22% and a market value of around 6.42 billion in 2021. North America dominates the liquid packaging cartons market due to the increasing e-commerce enterprise and changing lifestyles. Additionally, the growing cocktail culture and social media are also likely to raise the demand for bourbon whiskeys in the forthcoming years in this region. Besides, the ever-increasing demand for ultra-premium & premium liquids also helps drive the region's market growth. Furthermore, the Asia-Pacific region is expected to show the fastest CAGR of 8.11% over the projection period. This growth is attributed to the rise in disposable income, population growth, and stable economic growth.
Key players operating in the global liquid packaging cartons market are
• Tetra Pak International S.A.
• SIG Combibloc Group Ltd.
• Elopak Inc.
• Refresco Gerber N.V.
• Greatview Aseptic Packaging Co., Ltd
• Adam Pack s.a.
• Liqui-Box
• Pactiv Evergreen Inc
• Mondi Ltd
• Tetra Pak International S.A.
• Mondi Ltd
• Nippon Paper Industries Co., Ltd
• Uflex Ltd
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global liquid packaging cartons market based on below mentioned segments:
Global Liquid Packaging Cartons Market by Type:
• Gable-Top Liquid Carton
• Brick Liquid Carton
• Shaped Liquid Carton
Global Liquid Packaging Cartons Market by Application:
• Juice
• Dairy Products
• Others
Global Liquid Packaging Cartons Market by Shelf Life:
• Long Term Shelf Life
• Short Term Shelf Life
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About the report:
The global liquid packaging cartons market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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