New Castle, DE, USA, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Liquid Packaging Carton Market by Carton Type (Brick Liquid Cartons, Gable Top Cartons, Shaped Liquid Cartons), by Shelf Life (Long Shelf Life Cartons, Short Shelf Life Cartons), by End Use (Liquid Dairy Products, Non-Carbonated Soft Drinks, Liquid Foods, Alcoholic Drinks, Others) Global Opportunity Analysis and Industry Forecast, 2023-2032 ". According to the report, The liquid packaging carton market was valued at $19.8 billion in 2022 and is estimated to reach $32.7 billion by 2032, exhibiting a CAGR of 5.2% from 2023 to 2032.
Consumers' growing awareness of environmental concerns has led to an increased demand for sustainable and eco-friendly packaging solutions. Liquid packaging cartons are perceived as more eco-friendly compared to traditional packaging materials like plastic bottles or cans because they are recyclable and made from renewable resources.
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Prime determinants of growth
Rapid urbanization and an increase in disposable income in emerging markets have resulted in a higher demand for packaged beverages, including juices, dairy products, and other liquid items. As a result, liquid packaging cartons have gained traction in these regions. However, the production and material costs of liquid packaging cartons can be higher compared to certain other packaging options. This may impact the competitiveness of carton-packaged products, especially in price-sensitive markets. On the contrary, the growing global emphasis on sustainability and environmental consciousness presents a significant opportunity for liquid packaging cartons. As consumers and brands seek eco-friendly packaging solutions, cartons' recyclability and use of renewable materials make them an attractive choice.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $19.8 billion |
| Market Size in 2032 | $32.7 billion |
| CAGR | 5.2% |
| No. of Pages in Report | 357 |
| Segments covered | Carton Type, Shelf Life, End Use, Region. |
| Drivers | Rise in demand for packed food and beverages Technological advancements in the liquid packaging cartons. |
| Opportunities | Growth in demand for sustainable and eco-friendly packaging solutions |
| Restraints | Availability of substitutes Surge in usage of glass packaging |
The brick liquid cartons segment to maintain its leadership status throughout the forecast period
Based on carton type, brick liquid cartons held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global liquid packaging carton market, and is projected to maintain its dominant share in terms of revenue in 2032. There has been a surge in global concern about the environmental impact of traditional packaging materials such as plastic. Brick liquid cartons offer a more sustainable alternative, as they are often made from renewable resources and may be easily recycled. This aligns with the increase in consumer demand for eco-friendly packaging solutions. However, gable top cartons is projected to grow at the highest CAGR of 5.4% from 2023 to 2032. The gable top cartons offer excellent convenience in terms of pouring and reclosing. The triangular or gable-shaped tops of these cartons make pouring liquids smooth and controlled, eliminating the need for additional utensils or tools. The recloseable caps provided on the spouts ensure product freshness and prevent spills or leaks, enhancing the overall convenience for consumers.
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The long shelf life cartons segment to maintain its leadership status throughout the forecast period
Based on shelf life, long shelf life cartons held the highest market share in terms of revenue in 2022, accounting for more than two-thirds of the global liquid packaging carton market and is projected to maintain its dominant share in terms of revenue in 2032. Long Shelf Life Cartons is also projected to grow at the highest CAGR of 5.3% from 2023 to 2032. The usage of long shelf life cartons in the liquid packaging carton market is driven by several factors, including consumer demand for convenience, product safety, and extended shelf life. Firstly, consumers seek for convenience in their food and beverage choices.
The liquid dairy products segment to maintain its leadership status throughout the forecast period
Based on end use, liquid dairy products held the highest market share in terms of revenue in 2022, accounting for nearly two-thirds of the global liquid packaging carton market and is projected to maintain its dominant share in terms of revenue in 2032. Liquid packaging cartons offer easy-to-use features such as resealable caps, convenient pouring mechanism, and ergonomic designs that facilitate pouring and storage. The lightweight and stackable nature of cartons contribute to their convenience for both consumers and retailers. However, liquid foods is projected to grow at the highest CAGR of 5.9% from 2023 to 2032. Product safety is a crucial consideration in the liquid foods industry. Liquid packaging cartons provide an effective barrier against light, air, and moisture, helping to protect the contents from degradation and maintaining their quality and freshness.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global liquid packaging carton market and is projected to maintain its dominant share in terms of revenue in 2032. It is also projected to grow at the highest CAGR of 5.5% from 2023 to 2032. The rise in population and increase in urbanization in the region have led to a surge in the demand for packaged beverages and dairy products. Liquid packaging cartons offer an efficient and convenient solution for storing and distributing these products, making them an attractive option for manufacturers and consumers alike.
Leading Market Players: -
- NIPPON PAPER INDUSTRIES CO., LTD.
- ADAM PACK S.A.
- TETRA LAVAL GROUP
- GREATVIEW ASEPTIC PACKAGING
- ELOPAK
- WESTROCK COMPANY
- STORA ENSO
- ATLAS PACKAGING
- ITC LIMITED
- REFRESCO GROUP
The report provides a detailed analysis of these key players in the global liquid packaging carton market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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