The liquid packaging carton market size is expected to grow because manufacturers are focusing on visually attractive packaging resulting in increased brand value and sales. Fortune Business InsightsTM has presented this information in its upcoming report titled, “Liquid Packaging Carton Market, 2022-2029”. Furthermore, government regulations governing the use of polyethylene films and pouches for liquid product packaging are likely to provide potential growth prospects for the industry.
COVID-19 Impact –
During the devastating COVID-19 virus outbreak, almost all regions globally were obliged to implement lockdowns, which halted all manufacturing except essential commodities. Despite the virus’s outbreak, liquid packaging carton production continued unabated to provide packaging solutions to food and beverage producers.
On the basis type, the market is fragmented into gable top, shaped liquid cartons, and brick liquid. On the basis of shelf life, the market is split into short-term and long-term shelf life cartons. On the basis of application, the market is divided into juice & drinks, wine & spirits, dairy products, and others. Geographically, the market is classified into Latin America, Asia Pacific, Europe, North America, and the Middle East & Africa.
The report offers firsthand knowledge about liquid packaging carton market growth. Furthermore, it examines macroeconomic data, parent market trends, and controlling factors in-depth, as well as market attractiveness by segment. The qualitative influence of key market factors on market segments and regions is also mapped out in the report, inclusive of the COVID-19 impact on the market.
Drivers & Restraints –
Manufacturers to Focus on Visually Enticing Packaging to Boost Sales and Brand Value
Manufacturers are increasingly focusing more on visual presentation and appealing packaging in order to increase sales and brand value, which is projected to benefit the industry’s market. As a result of government regulations requiring the use of polyethylene films and pouches for the packaging of liquid products, the market for liquid packaging cartons is expected to experience potential growth. Manufacturers are switching to liquid packing cartons because of environmental concerns, which will drive the liquid packaging carton market growth.
Although, the market may be hampered by a high preference for plastic pouches for packaging liquid food products since they offer convenient transportation and cost-effective benefits.
Disposable Income and Growing Population to Make Asia Pacific a Fastest Expanding Region
Asia-Pacific is growing at a faster pace; the market’s growth is attributable owing to the rise in increased disposable income, increasing population, and consistent economic growth. The rise of the liquid packaging carton industry in Europe is being fueled by Germany’s packaging market dominance in liquid dairy goods.
North America to witness exponential growth owing to the surge in customer demand for convenient items, ready-to-transport, and the carton’s eco-friendly characteristics are both contributing to the expansion of the market.
In Latin America, demand and consumption patterns are expected to increase as the market recovers. The Middle East & Africa is expected to see swift growth due to many factors, including an aging population, technological advancements in the packaging sector, eco-friendly nature, and others.
Key Players To Launch New Products in Developing Countries to Expand Manufacturing Operations
The majority of companies, Evergreen Packaging Inc., Tetra Pack Inc., and others, are focusing on launching new products and growing their manufacturing operations in developing countries. The strategies include collaborating with key players, innovations, strategic partnerships, and strengthening regional and global distribution networks.
For instance, in November 2020, for the Central and Eastern European territories, Tetra Pak International S.A. and Stora Enso cooperated to develop a recycling line for used beverage cartons.
May 2021: Tetra Pak International S.A. and Stora Enso collaborated to build a recycling line for used beverage cartons for the Central and Eastern European markets.
List of Key Players in the Market:
Evergreen Packaging Inc.
Tetra Pack Inc.
Greatview Aseptic Packaging Co. Ltd.
Nippon Paper Industries Co. Ltd.
Reynolds Group Holdings Ltd.
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