Wilmington, Delaware, United States, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global liquid packaging market was estimated at a value of US$ 461 billion in 2022. It is anticipated to register a 4.6% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 692.3 billion by 2031.
Manufacturers can greatly benefit from having a distinctive packaging design, brand engraved on the packaging, or tagline connected to the packaging in order to get traction in the liquid packaging industry.
The post-COVID era has resulted in a rise in global population awareness, particularly among those living in underdeveloped nations, regarding health and cleanliness. In the upcoming years, bottled water is predicted to keep the liquid packaging market's cash registers ringing.
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Key Findings of Market Report
- Safety and hygiene are top priorities in packaged beverages.
- Packaging ensures goods are intact and contents shielded from contaminants.
- Manufacturers can guarantee freshness of perishable beverages like fresh juices and dairy goods thanks to new technologies.
- Packaging may be fluid or stiff.
- Due to long shelf life and easy transport, rigid packaging is favored globally.
- Rigid packaging is used for pharmaceuticals, cleaners, cosmetics and hygiene items.
Market Trends for Liquid Packaging
The food and beverage industry is growing at a rapid rate globally. Creating a brand image through packaging is becoming more important. There is a movement in consumer behavior toward brand consciousness and, eventually, brand loyalty.
Strong packaging is favored by businesses everywhere since it makes packaged drinks easier to carry across great distances. Two things that are driving up the global usage of bottled beverages are sustainability and lightweight.
Packaging that can be fully personalized with eye-catching artwork is called a can. Can demand is increasing steadily on a global scale. This is boosting the global liquid packaging market
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Global Market for Liquid Packaging: Regional Outlook
Various reasons are propelling the growth of the liquid packaging market in different regions. These are:
- Globally, Asia Pacific holds the greatest market share for liquid packaging. This can be attributed to the regional supporting government policies as well as the growth of the food and beverage and pharmaceutical industries.
- Since labor and operating expenses are less in Asia Pacific, major players in the liquid packaging industry are moving their manufacturing operations there. This is increasing the size of the liquid packaging market in the region.
- A review of the liquid packaging market indicates that North America accounts for a sizable portion of the global market. In the United States, the need for liquid packing is rapidly increasing. Producers of wine and spirits as well as cosmetics in Europe have a strong demand for liquid container solutions.
Global Liquid Packaging Market: Key Players
In order to provide innovative goods, market leaders in liquid packaging are concentrating on partnerships and in-licensing arrangements. A growing emphasis is being placed on providing creative container designs, in light of the growing global consumer consciousness around brands.
The following companies are well-known participants in the global liquid packaging market:
Tetra Laval International S.A., Comar LLC, Evergreen Packaging Inc., Liqui-Box Corporation, BillerudKorsnas AB, International Paper Company, Klabin Paper, Nippon Paper Industries Co., Ltd., Smurfit Kappa Group, The Dow Chemical Company, Mondi Plc
Few of key developments by the players in this market are:
- To improve its standing in the pharmaceutical and healthcare industries for liquid packaging materials, AptarGroup purchased Peli BioThermal in April 2023.
- Tetra Pack and Microsoft formed a joint venture in March 2023 in order to develop a cutting-edge platform for liquid packaging. This platform's goal is to assist food and beverage producers in tracking the efficiency of liquid product packaging along the supply chain.
- Amcor declared in March 2023 that it will expand the size of its liquid packaging production plant in Brazil.
- Smurfit Kappa invented a unique tap for wine and soft drink dispensers that are utilized in bag-in-box packaging in March 2020.
- In February 2020, Liqui-Box successfully acquired DS Smith's plastic division to bolster its operations in flexible packaging and dispensers.
- Smurfit Kappa revealed plans to expand in the Americas in February 2020, stating that it would invest US$ 36.0 million in the paper sack industry.
Global Liquid Packaging Market Segmentation
Packaging Type
Flexible (Films, Sachets, Pouches, and Others), Rigid (Paperboard, Bottles, Cans, Drums & Containers, and Others)
Raw Material
Plastic (PET, PP, PE), Paper, Metal, Glass, Others
Technique
Aseptic Packaging, Modified Atmosphere Packaging, Vacuum Packaging, Intelligent Packaging
End-use
Food & Beverages, Personal Care, Pharmaceuticals, Chemicals, Household Care, Petrochemicals, Others
Region
North America, Latin America, Europe, Asia Pacific, Middle East & Africa
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