Liquid Packaging Carton Market value to cross USD20.8 Million by 2025
Liquid Packaging Carton Market Outlook 2018-2025:
Global Liquid Packaging Carton Market top key players are 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.
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.
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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.
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.
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.
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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.