Liquid Packaging Carton Market Size, Explosive Growth Opportunity, Regional
The global liquid packaging carton market size was valued at USD 25.38 billion in 2022. The market growth is projected to be USD 26.66 billion in 2023 to USD 39.27 billion by 2030, exhibiting a CAGR of 5.69% during the forecast period.
Liquid packaging cartons are mainly designed for the distribution and packaging of products, such as juices, milk, nectars, soups, fruit-flavored still drinks, and other beverages. The material used for the manufacturing of these cartons is chosen due to its ability to protect products from air, contaminants, light, and moisture. The recyclable nature of the liquid packaging cartons is driving the market growth.
Fortune Business Insights™ mentioned this in a report titled, “Liquid Packaging Carton Market, 2023-2030.”
List of Key Players Present in the Report:
Tetra Pak International S.A. (Switzerland)
Elopak AS (Norway)
SIG Combibloc Group AG (Switzerland)
Oji Holdings Corporation (Italy)
Nippon Paper Industries Co. Ltd. (Japan)
Adam Pack S.A. (Greece)
Stora Enso Oyj (Finland)
B. Fuller Company (U.S.)
LAMI PACKAGING CO., LTD. (China)
Weyerhaeuser Company (U.S.)
Smurfit Kappa Group plc (Ireland)
Greatview Aseptic Packaging Co. Ltd. (China)
TidePak Aseptic Packaging Material Co. Ltd. (China)
Lami Packaging (Kunshan) Co. Ltd. (China)
Segments
Easy Stacking to Boost Brick Liquid Cartons Segment Growth
By type, the market is segmented into brick liquid cartons, gable top liquid cartons, and shaped liquid cartons. The brick liquid cartons segment holds the largest liquid packaging carton market share and is anticipated to grow during the forecast period. The segment’s growth is attributed to their uniform shape of these cartons, which allows easy stacking and efficient shipping.
Growing Consumer Preferences to Boost Long Term Cartons Segment Expansion
Based on shelf life, the market is segmented into short term shelf life and long term shelf life. The long term shelf life segment dominated the market. The segment’s growth is attributed to the growing consumer preferences and sustainability in the packaging industry, as these cartons offer long shelf life.
Low Cost of Liquid Cartons Propels Dairy Products Segment Growth
By application, the market is categorized into dairy products, wine and spirits, juices and drinks, and others. The dairy products segment dominates the market globally owing to the low cost of liquid cartons that helps dairy brands maintain competitive pricing in the market.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report offers:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into regional developments.
List of major industry players.
Key strategies adopted by the market players.
The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Information Source: https://www.fortunebusinessinsights.com/liquid-packaging-carton-market-105282
Drivers & Restraints
Rising Demand for Sustainable Packaging Solutions to Boost Market Growth
The increasing demand for sustainable packaging solutions and the rising research and development activities in the industry toward achieving sustainability goals drives the liquid packaging carton market growth. The ease of recycling makes the liquid packaging cartons an attractive choice for environmentally conscious customers.
However, highly acidic products or products having specific requirements related to protection and shelf life may not go with liquid carton packaging, further impeding the market expansion.
Regional Insights
Rising Demand from Food & Beverage, Dairy, and Still Drinks Industries to Propel Market Expansion in Asia Pacific
Asia Pacific holds the largest market share. The growth is attributed to the increasing dairy, beverage, food, and still drinks industries in the region, which is driving the market growth.
North America is the second dominating region in the market. The growth is attributed to the rising dairy market, the presence of significant market players, and the leading consumer products industry in the region.
Competitive Landscape
Key Players Offering Innovative Packaging to Propel Market Growth
The liquid packaging carton market comprises key players, such as Tetra Pak International S.A., Elopak AS, SIG Combibloc Group AG, IPI S.r.l., Nippon Paper Industries Co. Ltd., and others. The innovative packaging offered by these key players in the packaging industry drives the market growth.
Key Industry Development
September 2023 – AnaBio Technologies and SIG jointly introduced a long-life probiotic yoghurt in aseptic packaging. It is a major development and breakthrough of a new product category for aseptic packaging and probiotic beverages.
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