The global liquid packaging bag market is poised for substantial growth, with its valuation projected to climb from US$ 1,054.4 million in 2022 to a robust US$ 1,733.9 million by 2032. Over the forecast period, the market is anticipated to achieve an impressive compound annual growth rate (CAGR) of 5.1%, building upon its 4.3% CAGR recorded from 2016 to 2021. This exceptional growth can be attributed to the escalating demand for conveniently packaged ready-to-eat food items.
The rising popularity of liquid packaging bags across a diverse range of industries, including personal care, pharmaceuticals, home care, food and beverage, and more, is poised to drive substantial market expansion in the foreseeable future. The cost-effectiveness of these bags is anticipated to be a key catalyst for market growth, especially since they can be readily adopted by small-scale vendors, further boosting their market appeal.
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Driving Factors
A noteworthy example of this industry’s commitment to sustainability comes from L’Oréal, a global leader in cosmetics. In partnership with Albéa, a prominent cosmetic packaging wholesaler, L’Oréal introduced a carton-based cosmetic tube made from a bio-based paper-like material, effectively replacing a significant portion of plastic in their packaging. Similarly, Stora Enso Oyj, a Finnish packaging solutions provider, developed a paperboard tube as an eco-friendly alternative to traditional plastic tubes for cosmetics packaging. These innovations underscore the industry’s commitment to environmental responsibility and are poised to drive market growth in the coming years.
The liquid packaging bag market is poised for growth, primarily driven by the increasing demand for convenient pouches, which offer a practical and user-friendly solution for various products. Furthermore, manufacturers are increasingly inclined toward cost-effective alternatives, which is expected to bolster market growth in the foreseeable future. In addition to cost-efficiency, the market is witnessing a shift towards more sustainable practices, with a focus on recyclable polymers as a replacement for traditional polyethylene packaging. These trends are anticipated to present significant opportunities in the liquid packaging bag market.
Recent Developments
In April 2021, Hood Container Corporation made a significant move by acquiring Sonoco Display and Packaging, incorporating various locations across the United States. This strategic acquisition spans states such as Arkansas, Iowa, Illinois, North Carolina, Pennsylvania, Georgia, and New Jersey. By integrating Sonoco Display and Packaging into its portfolio, Hood Container not only expands its product offerings to existing clients but also enhances its domestic presence.
In January 2022, Amcor, a renowned leader in sustainable packaging solutions, introduced a groundbreaking platform of paper-based packaging products known as AmFiber™. This innovative line aims to revolutionize traditional paper packaging by offering a diverse range of features and functional advantages. AmFiber™ is designed to cater to evolving consumer needs, marking a significant leap forward in the realm of sustainable packaging solutions.
Restraints:
- Competition from Other Packaging Solutions: Liquid packaging bags face competition from various other packaging options like PET bottles, glass containers, and alternative flexible pouches. Depending on the product and industry, consumers may prefer these alternatives.
- Regulatory Compliance: Meeting regulations for packaging and labeling of liquid products can be a significant challenge. Manufacturers must ensure their packaging complies with safety and regulatory standards, which can be complex and resource-intensive.
- Durability Concerns: Liquid packaging bags may have limitations in terms of durability, especially for products that require a long shelf life or protection from external factors.
- Perceived Quality: In some markets, there’s a perceived association between the quality of a product and its packaging. Consumers may view products in bags as lower quality compared to rigid packaging options, which can affect certain premium or high-end liquid products.
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Segments Covered
- Type
- End User
- Region
Key Market Players
- Packman Industries
- DS Smith Packaging Limited
- Global-Pak, Inc
- Amcor Limited
- CDF Corporation
- Uflex Ltd.
- Aran Group
- Hood Packaging Corporation
- Danqing Plastic Packaging & Printing Co., Ltd.
- Shenzhen Winld Packaging Material Ltd.
- Dongguan Yason Pack Co., Ltd
- Ruijin Xinchen Technology Co., Ltd.
- Wenzhou Kiwim Plastic Packaging Co., Ltd.
- Jiangyin Huawen Flexible Packaging Co., Ltd.
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