The global liquid packaging cartons market is estimated to garner robust revenue by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated remarkable revenue in the year 2021. The growth of the market can primarily be attributed to the rising consumption of liquid packaging cartons. For instance, more than 150,000 tons of liquid cardboard packaging were consumed solely in Germany while the utilization of these cartons is estimated to rise exponentially across the globe.
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Liquid packaging cartons are also known as beverage cartons and are generally utilized for the storage and transportation of liquid products such as, milk, alcohol, beverage, and others. Liquid packaging cartons are further used to provide customized packaging in accordance with the requirements of manufacturers. Global liquid packaging cartons market trends such as convenience recycling and skyrocketing use in the of soft drinks packaging are further anticipated to influence the growth of the market positively over the forecast period. It is observed that about USD 0.50 trillion of revenue was generated by the soft drink segment in 2022 while the per person revenue of the segment was estimated to be approximately 100 U.S. dollars in a similar year.
Rising Production of Milk to Boost the Market Growth - As of 2018, approximately 800 million tonnes of milk were produced across the globe which was an increase from 500 million tonnes in 1988. Milk is consumed every day in almost every house holding and in urban areas, milk is distributed in packets and cartons. As of 2021, the consumption of milk in India was estimated to be around 80,000, in the United Kingdom (6000), and in Australia (2000) thousand metric tons. Hence, such a higher consumption of milk is estimated to hike the market growth over the forecast period.
Increasing Consumption Ready-to-Drink Beverages - In 2020, approximately 40 million proof gallons of vodka were imported to the United States.
Growing Disposable Income Across the Globe - Based on the statistics provided by the World Bank, it was stated that in 2020, adjusted net national income reached USD 8,784 per capita.
Increasing Demand for Liquid Packaging Cartons in Food Packaging - According to the United States Environmental Protection Agency (EPA), it was shown that 14.5 million tons of plastic containers and packaging were produced in 2018.
The global liquid packaging cartons market is segmented and analyzed for demand and supply by end-user into dairy products, liquid food, alcoholic beverages, non-carbonated soft drinks, and others, out of which, the non-carbonated soft drinks segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the higher utilization in the soft drinks industry. For instance, in 2022, the revenue generated by the soft drink segment was estimated to be around USD 3 billion.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.
Regionally, the global liquid packaging cartons market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2031. The growth of the market in the region is ascribed to growing disposable income. For instance, the disposable personal income in the USA hit around USD 15000 billion in 2021 which increased from approximately USD 14000 billion. Furthermore, the escalating consumption of ready-to-drink beverages and significant growth in the packaging industry is expected to hike the growth of the market over the forecast period.
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The global liquid packaging cartons market is further classified on the basis of region as follows:
Our in-depth analysis of the global liquid packaging cartons market includes the following segments:
By Carton Type
FREQUENTLY ASKED QUESTIONS
Rising consumption of liquid packaging cartons and rising production of milk to boost the market growth are estimated to majorly boost the market growth.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2031.
A decline in the utilization of packaging cartons due to global warming is estimated to challenge the market growth.
The market in North America region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Tetra Laval Group, BillerudKorsnäs AB, Smurrfit Kappa Group, Greatview Beijing Trading Co., Ltd, Reynolds International Pen Company, Liqui-Box Corporation, ONEX Corporation, and others.
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 segmented by carton type, durability, end-user, and by region.
The non-carbonated soft drinks segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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