Geometric Progression To Be The Epicenter Of Liquid Packaging Cartons Market
Global sales of liquid packaging cartons are expected to reach US$ 26 Bn by 2031, on the back of increasing need for aseptic packaging formats, especially with the onset of the COVID-19 pandemic. According to a revised report by Persistence Market Research, the liquid packaging cartons market is estimated to register a steady CAGR of more than 5% over the forecast period of 2021-2031.
The most important aspect of a product or offering made by a manufacturer is its packaging. Longer shelf-life allows the producer to distribute products more efficiently with ease. Due to the packaging of food & beverages in liquid cartons, the shelf-life of the product increases due to the high barrier offered.
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Key Takeaways from Market Study
- The market for liquid packaging cartons is consolidated at the top, and has giant global players enjoying maximum market share. Consumers and end users are having limited power of bargaining due to lesser small- and medium-size players.
- Increased consumption of soft drinks and juices across the globe and rising application of liquid packaging cartons for industrial and institutional purposes are driving market growth.
- Manufacturers and major end users prefer uncoated paperboard for making liquid packaging cartons.
- Among all the opening types of liquid packaging cartons, cut opening and straw hole opening are convenient and most preferred by consumers.
- Fastest-growing regions for sales of liquid packaging cartons are East Asia and South Asia, and are expected to record a CAGR of 8% and 7.5%, respectively.
- Due to the COVID-19 pandemic, demand for liquid packaging cartons was hampered due to resource unavailability and transit restrictions. However, the target market is expected to increase at a prominent growth rate of above 5% during 2021-2031.
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The report underlines groundbreaking insights into the competitive scenario of the liquid packaging cartons market, along with highlights of differential strategies used by manufacturers.
Some of the key players identified across the value chain include are Elopak Inc., Pactiv Evergreen Inc., Refresco Gerber N.V., SIG Combibloc Group Ltd., Tetra Pak International S.A., Nippon Paper Industries Co., Ltd, TidePak Aseptic Packaging Material Co., Ltd, IPI s.r.l., Adam Pack s.a., Mondi Ltd, Uflex Ltd, Greatview Aseptic Packaging Co., Ltd., Liqui-Box, LAMI PACKAGING (KUNSHAN) CO., Ltd., and POLYOAK PACKAGING GROUP (PTY) Ltd.
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