Liquid packaging market to make strong comeback after pandemic
The global liquid packaging market is set to take off with significant growth predicted by 2031
Research shows this is due to the growing use of liquid packaging in the food and beverage sector. Regionally, the Asia-Pacific region is expected to be dominant, according to market forecast analysis published by Research Dive.
The global liquid packaging market is predicted to generate a revenue of $566.3 billion and grow at a CAGR of 4.6% over the estimated timeframe from 2022 to 2031.
Segments of the Liquid Packaging Market:
The report has divided the liquid packaging market into the following segments:
1. Material: plastics, paperboard, glass, metals, and others
This includes plastics which held the largest market share in 2021. It also takes into account the increasing use of plastic packaging in the food and beverage industry. The packaging provides a barrier against moisture, air, and other contaminants to extend the shelf-life of products and is expected to foster the growth of the market sub-segment forward.
2. Technology: aseptic liquid packaging, blow molding, and form fill seal
This includes Aseptic Liquid Packaging which generated the highest market share in 2021. The increasing use of aseptic liquid packaging for a wide range of liquid products – such as soaps, broths, sauces, and many more – are predicted to augment the growth of the market sub-segment over the estimated timeframe.
3. Packaging Format: flexible and rigid
Rigid registered the biggest market share in 2021. The increasing use of rigid packaging, due to its extreme protectiveness and for not affecting the quality and flavour of food, is expected to propel the growth of the market sub-segment over the forecast period.
4. End-Use Industry: food and beverage, personal care, pharmaceutical, household care, and industrial
Food & Beverage held the maximum market share in 2021. The increasing demand for packaged liquids – such as juices, dairy products, soft drinks, and many more – is expected to uplift the growth of the market sub-segment during the analysis period.
5. Region: North America, Europe, Asia-Pacific, and LAMEA
Asia-Pacific held the dominant market share in 2021. The rapidly growing economies, large populations, and increasing consumer demand for packaged goods, are expected to drive the regional growth of the market in the coming period.
Dynamics of the Liquid Packaging Market
The increasing applications of liquid packaging in the food and beverage sector, owing to the growing popularity of on-the-go food and drinks and the rising convenience of pre-packaged food items, are expected to bolster the growth of the liquid packaging market over the analysis timeframe.
Besides, the increasing trends of health consciousness among individuals and the growing need for eco-friendly packaging solutions are expected to foster the growth of the market throughout the forecast period.
However, the high cost of raw materials may hinder the growth of the market throughout the estimated period.
The growing demand for premium and high-end products has increased the demand for premium packaging, which is expected to create wide growth opportunities for the market during the forecast period.
Moreover, the rising e-commerce and online shopping have increased the need for premium packaging solutions which is expected to boost the growth of the market over the analysis period.
Though the outbreak of the Covid-19 pandemic has devastated several industries, it has had a moderate impact on the liquid packaging market.
This is mainly due to the increasing demand for liquid packaging across various sectors, such as healthcare during the pandemic period.
The growing demand for packaged liquid products such as cleaning products and beverages, and the rising demand for safe, hygienic, and disposal packaging have further increased the growth of the market over the crisis.
Some key players of the liquid packaging market
- Goglio S.p.A.
- Sealed Air
- Gerresheimer AG
- Smurfit Kappa
- Amcor plc
- Constantia Flexibles
- Tetra Laval Group
- Berry Global Inc.
These players are mainly working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to obtain a leading position in the global industry.
For example in February 2022, Elopak ASA, a leading producer of carton packaging and filling equipment announced its collaboration with Nippon Paper Industries, a Japanese paper manufacturing market. With this collaboration, the companies aimed to leverage their strengths by increasing competitiveness and sales of paper packaging and adopting sustainable packaging solutions.
The final report also covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation, and company profiles.