New York, USA, May 11, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global liquid packaging market. According to the report, the global market is projected to surpass $566.3 billion and grow at a CAGR of 4.6% in the estimated period, 2022-2031. This all-inclusive report delivers a comprehensive overview of the current and future situation of the liquid packaging market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Liquid Packaging Market
The outburst of the COVID-19 pandemic in 2020 has had a positive impact on the growth of the global liquid packaging market. During the pandemic, there was a rise in demand for liquid packaging in industries such as healthcare as well as for products such as cleaning solutions and hand sanitizers. Moreover, the outbreak increased the demand for packaged liquid products such as beverages and cleaning products as people stocked up on necessities. These factors are projected to fuel the market growth amidst the pandemic.
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Factors Impacting the Liquid Packaging Market Growth
The key factor boosting the growth of the global liquid packaging market is a significant rise in the need for liquid packaging owing to raised concerns about environmental sustainability and the necessity for eco-friendly packaging solutions. Furthermore, the rising demand for high-end and expensive products is estimated to unlock lucrative opportunities for market growth in the forecast period. However, the expensive raw materials needed to make the food packing boxes are anticipated to deter the market’s growth.
The report segments the global liquid packaging market into material, technology, packaging format, end-use industry, and region.
Plastics Sub-Segment to Grab a Leading Share of the Market
The plastics sub-segment of the material segment is predicted to observe leading growth in the forecast period. This growth is mainly due to the rise in demand for durable and lightweight packaging materials and the affordability and versatility of plastic packaging.
Aseptic Liquid Packaging Sub-Segment to Grab a Foremost Share of the Market
The aseptic liquid packaging sub-segment of the technology segment is foreseen to observe leading growth in the forecast period. This growth is mainly because aseptic liquid packaging offers an airtight, sterile environment for the contents, so the product can be kept fresh for a long time without needing to be refrigerated.
Rigid Sub-Segment to Observer Rapid Growth
The rigid sub-segment of the packaging format segment is projected to grow enormously in the forecast period. This growth is mainly because rigid packaging has no effect on the quality or flavour of the food.
Food & Beverage Sub-Segment to Witness Rapid Growth
The food & beverage sub-segment of the end-use industry segment is expected to grow enormously in the forecast period. This growth is mainly due to the rise in popularity of packaged liquids such as juices, dairy products, soft drinks, and alcoholic beverages.
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Asia-Pacific Region to Perceive Maximum Growth
The report analyzes the global liquid packaging market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the Asia-Pacific market is projected to observe significant growth in the estimated period. This growth is mostly due to a rapidly growing population, rising disposable income levels, increasing urbanization, and a developing economy, which are all driving up demand for packaged liquid products such as food, beverages, and personal care items in this region.
Key Players of the Global Liquid Packaging Market
The report states some of the foremost players operating in the global market including
- Amcor plc
- Constantia Flexibles
- Berry Global Inc
- Gerresheimer AG
- Mondi
- Goglio S.p.A.
- ProAmpac
- Smurfit Kappa
- Sealed Air
- Tetra Laval Group
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
For instance, in February 2021, Smurfit Kappa, a pioneering European corrugated packaging firm, launched an advanced line of electronic bottle packaging solutions for the booming online beverage and liquids market. The new solution includes a wide variety of environmentally friendly options for single- and multi-pack products, such as the Rollor bottle pack, BiPack, and pop-up insert.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Liquid Packaging Market:
- A Quick Look at the Latest Developments and Innovations in the Liquid Packaging Market
- Global Liquid Packaging Market to Generate $566.3 Billion by 2031, Owing to the Rising Demand for Packaged Liquids from Various Industries
