The liquid carton packaging market is anticipated to record a CAGR of 5.8% during the forecast period, up from US$ 20.42 Bn in 2022 to reach a valuation of US$ 34.93 Bn by 2032.
Sales of liquid carton packaging are expected to rise as demand for packaged foods and beverages increases, as is the ease of carrying and transporting them. In addition to this, demand for liquid carton packaging is rising on account of packaging advancements and the recyclable characteristic of cartons.
Increasing soft drink consumption is also projected to contribute to the growth of the liquid carton packaging market share.
The report sheds light on the factors improving the sales of liquid carton packaging and, in turn, the opportunities for the market players. However, the liquid carton packaging market also faces some challenges, which might limit the LIQUID CARTON PACKAGING market share from reaching its potential.
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Some of the critical liquid carton packaging market trends promoting the demand for liquid carton packaging include consumers, particularly the teenage demographic, increasingly demanding safe packaging solutions with an appealing look and feel.
Compared to the previous decade, the number of people who consume beverages and liquid meals daily has climbed dramatically.
Manufacturers have been obliged to employ sustainable materials that do not emit dangerous chemicals such as waste, such as plastics, due to increased awareness of environmental issues and the negative impacts of plastic on nature. As a result of their ease of disposal, demand for liquid packaging cartons constructed of uncoated paperboard increases.
The way items are packaged evolved in recent years due to changes in the food and beverage industry’s growth dynamics and the retail industry’s different growth dimensions. Significant challenges impeding market expansion include rising demand for glass packaging and the availability of substitutes for liquid packaging cartons. However, during the forecast period, product innovation in the liquid packaging industry will create lucrative growth potential for the liquid packaging carton market.
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What are the Key Drivers to the Liquid Carton Packaging Market Share?
The rising preference of consumers towards ready-to-drink beverages and packaged products is propelling the demand for liquid carton packaging products. Further, growing sustainability concerns regarding the use of plastic are fueling the demand for brick liquid cartons.
As these brick liquid cartons are eco-friendly and can be recycled, production of these cartons is expected to surge over the forecast period and improve the sales of liquid carton packaging.
According to Future Market Insights, the gable-top segment is anticipated to witness the fastest growth in sales of liquid carton packaging during the assessment period. Regionally, Asia Pacific is expected to register the highest growth in the global liquid carton packaging market.
Growing consumption of ready-to-drink beverages and preference for packaged milk, juices, and soft drinks are the major factors driving the sales of liquid carton packaging.
Convenience in the transportation of liquid products and the advent of intelligent packaging is another factor reshaping the liquid carton packaging market.
Moreover, rising disposable incomes across the U.S., the U.K., Germany, India, and China is resulting in an upsurge in the consumption of soft drinks and dairy products. On account of this, the sales of gable-top and brick top cartons packaging in fruit juice and dairy packaging are anticipated to spur over the projection period.
Besides this, extended shelf life and protection against external factors offered by liquid carton packaging is another factor encouraging the demand for liquid carton packaging. Hence, key manufacturers of liquid carton packaging are introducing novel technologies in packaging to increase revenue.
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Which is the Leading Region in the Liquid Carton Packaging Market?
As per Future Market Insights, Asia Pacific is anticipated to hold nearly 53.8% of total sales of liquid carton packaging during the forecast period.
The growth of the liquid carton packaging market in the region is underpinned by a surging preference for sustainable packaging across India, China, and several other countries in South and East Asia.
The advent of leading beverages companies in the India and China market provides a solid thrust to the sales of liquid carton packaging in the Asia Pacific liquid carton packaging market. Besides this, millennials’ burgeoning consumption of packaged beverages such as juices, soft drinks, and dairy products is another factor propelling the demand for liquid carton packaging.
Moreover, favourable government initiatives to reduce carbon footprints and develop sustainable packaging boost the demand for liquid carton packaging in the Asia Pacific. For instance, according to the India Brand Equity Foundation, India is considered to be the 4th largest fast-moving consumer goods market.
This is anticipated to provide lucrative growth opportunities for liquid packaging market players, creating a conducive environment for the growth in the liquid carton packaging market in the Asia Pacific.
Who are the Key Players in the Liquid Carton Packaging Market?
Some of the key participants in the liquid carton packaging market include Tetra Laval, Comar, Inc., Liqui-Box Corp. and Tri-Wall, and Wayerhaeuser.
Companies in the market are using strategies for growing the sales of liquid carton packaging, such as product development, facility expansions, and mergers and acquisitions to extend their global presence, catering to the growing demand for liquid carton packaging and expanding their product portfolio.
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