The growth of the global liquid packaging carton market is thriving on the back of the growing trends of aseptic-based packaging amongst manufacturers dealing with liquids, such as dairy, beverages and others, as aseptic-based packaging protects the liquid food product from microbes, thereby enhancing the shelf life of the product without the need of adding any type of preservatives. Additionally, increasing research and developmental activities for the innovation of packaging technologies, coupled with the growth of the end user industries dealing with liquid food products are some of the factors anticipated to contribute significantly towards the growth of the global liquid packaging carton market.
The global liquid packaging carton market reached a value of around USD 14000 million in the year 2018 and is expected to garner a value of around USD 21,500 million by the end of 2027 by registering a CAGR of around 5% across the glove over the forecast period, i.e. 2019-2027. Further, the worldwide market of liquid packaging carton is anticipated to achieve an absolute $ opportunity of around USD 7000 million over the forecast period.
Growth Highlights based on Region during 2018-2027
The global liquid packaging carton market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, the market of Asia Pacific liquid packaging carton is primarily driven by China, Japan, South Korea, Australia and India, where China held the dominant market share of around 23% in the year 2018. Presence of a large population in the countries along with the regions having a temperate climate, contributes to the growing demand for beverages, which in turn is estimated to propel the demand for liquid packaging carton products by the liquid product manufacturers in the region. Additionally, the market in Asia Pacific held a market share of around 56% in the year 2018 and is further anticipated to cross a value of around USD 12000 million by the end of 2027 by growing at a CAGR of around 5% over the forecast period.
Further, Germany, U.K., Russia, France, Italy and Spain are some of the prominent countries that are driving the growth of the Europe liquid packaging carton market, where Germany held the largest market share of around 21% in the year 2018. Additionally, the market in the region is anticipated to grow with a CAGR of around 5.5% during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Market Segmentation Synopsis
The global liquid packaging carton market has been segmented on the basis of material into paperboard, polyethylene and aluminum. The paperboard segment with around 65% share in the year 2018, occupies the largest market of liquid packaging carton market across the globe. Additionally, the paperboard segment is anticipated to cross a value of around USD 14000 million by the end of 2027 by registering a CAGR of around 5% over the forecast period. Further, the aluminum segment is estimated to grow with the highest CAGR of around 6% over the forecast period.
Market Drivers and Challenges
The demand for food products around the world is increasingly massively owing to the rising population across nations. Moreover, with the rising population, the production of liquid food products, such as milk, is also increasing rapidly. According to the statistics by the Food and Agriculture Organization (FAO) of the United Nations, milk production around the world grew by 1.4% from the year 2018 to reach 852 million in the year 2019. Milk is one such liquid product which is used in multiple forms for consumption. The different type of end product thereby requires different form of packaging. But on and all, owing to the rising concern for contamination of the milk and poor shelf life, there is a rising demand amongst the liquid food manufacturers to obtain eco-friendly packaging products, such as liquid packaging carton, which can overall contribute to extend the shelf life of such products and reduce the cost of production of the food processors. On the other hand, rising concern for transportation of liquid food products and the increasing cost of transportation is raising the need amongst the manufacturers of liquid food products to obtain packaging materials that are sustainable, promote eco-friendly packaging as well as contribute to the lower cost of transportation by efficiently using stacking space during transportation. Such factors are anticipated to drive the growth of the global liquid packaging carton market.
Presence of numerous substitute materials for packaging of liquid food products, coupled with higher cost of liquid packaging cartons in comparison to the available alternatives, are some of the factors anticipated to act as a restraining factor towards the growth of the global liquid packaging carton market.
Some of the affluent industry leaders in the global liquid packaging carton market are SIG Combibloc Group Ltd., Tetra Pak International S.A., Evergreen Packaging LLC, Refresco Group, Klabin SA, Greatview Beijing Trading Co., Elopak AS and Nippon Paper Industries Co., Ltd.
FREQUENTLY ASKED QUESTIONS
Increasing need for eco-friendly packaging amongst liquid food product manufacturers are some of the major factors that are driving the growth of the market.
The market is anticipated to attain a CAGR of around 5% over the forecast period, i.e. 2019-2027.
Asia Pacific (APAC) is anticipated to hold the dominating share in the market.
The market in Europe is anticipated to provide more business opportunities for growth in the future.
The major players in the global liquid packaging carton market are SIG Combibloc Group Ltd., Tetra Pak International S.A., Evergreen Packaging LLC, Refresco Group, Klabin SA, Greatview Beijing Trading Co., Elopak AS and Nippon Paper Industries Co., Ltd.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is majorly segmented by material and by region.
The paperboard segment, which is a sub-segment of the material segment, held a market share of around 65% in the year 2018 and is anticipated to display significant growth opportunity over the coming years.
Growing concerns for the availability of low-price substitutes are some of the major factors anticipated to act as a barrier towards the growth of the global liquid packaging carton market.
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