NEW YORK, July 28, 2021 /PRNewswire/ -- 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 demand is estimated to register a steady CAGR of more than 5% over the forecast period of 2021-2031.
Packaging of a product remains an important aspect for a manufacturer as it allows the food to maintain it nutritional benefits and preserve the exact colour as well as taste. Longer shelf-life allows the producer to distribute products more efficiently with ease. The packaging of food & beverages in liquid cartons enhances the shelf-life of the products due to the high barrier offered.
Also, increase in shelf-life helps decrease delivery frequency even at the extreme places, and aids in reducing liquid waste. Liquid packaging cartons ensure maximum protection to the inside product from environmental factors such as dirt, UV-rays, moisture, and many others, during transportation. They also provide spill-proof and tamper-protection packaging, which certainly reduces contamination and malpractices such as dilution of the product.
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Key Takeaways from Market Study
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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.
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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.
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Manufacturers and key end users prefer uncoated paperboard for making liquid packaging cartons.
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Among all the opening types of liquid packaging cartons, cut opening and straw hole opening are convenient and most preferred by consumers.
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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.
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With the rise in COVID-19 pandemic, demand for liquid packaging cartons was hampered due to resource unavailability and transit restrictions across various locations. However, the target market is expected to increase at a prominent growth rate of above 5% during 2021-2031.
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"Consumer inclination towards storing of liquid food without refrigeration while maintaining its nutritional value is boosting the sales of the liquid packaging cartons, says an analyst at Persistence Market Research.
Market Competition
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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More Valuable Insights
Persistence Market Research released a new market research on the liquid packaging cartons market, covering global industry analysis of 2015-2020 and forecasts for 2021–2031.
The market study reveals compelling insights on the basis of material (uncoated paperboard, LDPE coated, and aluminum), product (brick cartons, gable top cartons, and shaped cartons), opening type, (cut opening, straw hole opening, clip opening, twist opening, and king twist opening), and application (dairy products, juice & drinks, industrial & institutional, and other products), across seven major regions of the world.
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SOURCE Persistence Market Research Pvt. Ltd.
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