Ottawa, April 17, 2024 (GLOBE NEWSWIRE) -- According to Precedence Research, the global liquid packaging market size was reached at USD 474.57 million in 2023 and is expected to hit USD 654.51 billion by 2030. Increasing productivity, consistency, and accuracy, reducing production loss, and reducing manual labor are necessities that help in the growth of the market.
Market Overview
The liquid packaging market deals with the packaging of liquid materials of different categories. The purpose of the packaging is to prevent leakage and contamination and to prevent damage during distribution. It is also timesaving, consistent filling, more accurate, reduces product loss, and less labor required for production. Liquid packaging is suitable for various industries like household product refills, fruit drinks, health products, beauty products, paints, chemicals, etc., effective use of storage space, strength in lightweight packaging, and effectively unlimited branding options. Different materials like paper, plastic, metal, and aluminum are used for liquid packaging.
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Key Insights
- Asia-Pacific dominated the liquid packaging market in 2022 and accounted 44% revenue share.
- North America is estimated to be the fastest growing 5.7% during the forecast period of 2023-2032.
- By packaging type, the rigid packaging segment dominated the market with revenue share of 85.5% in 2022.
- By packaging type, the flexible packaging segment is the fastest growing during the forecast period.
- By raw material type, the plastics segment dominated the market in 2022 and held 41%.
- By raw material type, the paper segment is the fastest growing during the forecast period.
Regional Stance
Asia-Pacific dominated the liquid packaging market in 2023. Increasing population, higher disposable income, and increasing income level help in the growth of the market in the Asia-Pacific region. Increased use of packaging and the growth of organized retail help consumers achieve satisfaction. Changing consumer preferences and urbanization help in the growth of the market in the Asia-Pacific region. Government regulations, incentives, and policies encourage the use of the Asia-Pacific Liquid Packaging Board, like the carbon pricing mechanism, and subsidies for renewable energy projects contribute to the market’s growth. China dominates the Asia-Pacific region.
North America is estimated to be the fastest growing during the forecast period of 2023-2032. Increased demand for cosmetics, pharmaceuticals, foods, and beverages helps the growth of the market, which is the largest sector in this region. Shifting toward innovative and renewable liquid packaging options helps in the growth of the market in North American regions. In North America, the antimicrobial properties and enzyme immobilization properties of nanoparticles used in liquid packaging materials help protect food materials, which helps the growth of the liquid packaging market.
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By Packaging Type
The rigid packaging segment dominated the market in 2023. Rigid packaging plays the main role in the preservation of the food freshness and togetherness of beverages and foods. Rigid packaging materials consist of metals, glass, and plastics like HDPE and PET. There are applications in various types of products and different industry requirements like food and beverages, cosmetics and personal care, pharmaceuticals, and healthcare. The rigid packaging application in PET bottles to store carbonated drinks, metal cans used in canned products, and glass jars used for sauces, jams, etc., contributes to the growth of the segment. It is used for product protection, is made of durable materials, and is applied in safe medication transport. It offers sustainability, durability, recyclability, and strength to the product packaging and helps the growth of the segment.
The flexible packaging segment is the fastest growing during the forecast period. Flexible packaging is used in the packaging of semi-liquids, gels, and liquid products. Using flexible packaging can improve the shelf life of liquid products. Flexible packaging materials include plastics, foils, paper, and bio-based materials. There are many applications of flexible packaging in the food industry, pharmaceuticals, personal care products like creams and lotions, industrial use, and pharmaceuticals. These factors contribute to the growth of the segment.
By Raw Material Type
The plastics segment dominated the liquid packaging market in 2023. Plastics help in liquid packaging, prevent waste, help to keep products together, and may avoid spoilage of the products. It may help to keep the product fresh and also may ensure that the products we use are ready to use, clean, and hygienic. It is used to protect the products from damage and helps keep delicate products safe for transportation. In increased preservation, prevention from contamination contributes to the growth of the segment. The use of plastics for less environmental impact and durability, with outstanding barrier properties, and lightweight, and also low-cost and low-risk for businesses, helps in the growth of the segment.
The paper segment is the fastest growing during the forecast period. Paper packaging for liquid packaging has several benefits, including recyclability, versatility, affordability, consumer preferences, and responsible sourcing. Paper may also be recycled many times before losing its quality, so packaging may contain many recycled contents. This leads to reducing the pressure on forests.
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Market Dynamics
Driver
Heavy demand for liquid packaging in different sectors
There are many reasons for the increasing adoption of liquid packaging. Development of new products in different sectors, including food & beverage, cosmetics, healthcare, and so on need proper packaging. Increasing population and consumer demand for beverages and other liquid-based packaged food, technological advancements like aseptic liquid packaging innovation, health consciousness and the trend towards a healthier lifestyle, expansion of the food and beverages industry due to urbanization and changing life, eco-friendly packaging, improved living standards, and disposable income rises, and these factors worldwide increase and contribute to the growth of the liquid packaging market.
Restraint
Increasing carbon footprints and environmental effects
Environmental effects are significant restraints caused by the use of some resins in the liquid packaging market. Some resins are used, such as Polyethylene Terephthalate (PET), Polypropylene (PP), Polyethylene (PE), and other resins. These resins cause environmental pollution and carbon emissions. There is a challenge during the disposal and recycling of liquid packaging materials. Most of the liquid packaging materials are used for single use, and they may not be recycled. Plastic packaging material is the cause of the planetary crisis of plastic pollution. Also, the manufacturing process of liquid packaging emits harmful heavy metals, particulates, and greenhouse gases, which cause environmental pollution. Wastewater generated by the production of liquid packaging materials contains toxins.
Opportunity
Innovative trends in automation in liquid packaging
Artificial intelligence (AI) and machine learning (ML) may be used in liquid packaging to improve efficiency, accuracy, and worker safety, while automated techniques may be used in high-risk tasks. These may also be used for process optimization, maintenance, and quality control process. Robotics may also be used in liquid packaging. Robotics are capable of speedy and precise tasks, and they handle everything from capping bottles to arranging packaged products. The use of automation technology helps reduce waste and environmental effects, and it is also an effective resource. These factors of automation may be helpful in food delivery services, eco-friendly materials, reusable packaging, and healthy lifestyles, which contribute to the growth of the liquid packaging market.
Related Reports
- Food Packaging Market - The global market size was accounted for USD 377.05 Billion in 2023 and is increasing at USD 679.71 Billion by 2033 with CAGR of 6.11% from 2024 to 2033.
- Pharmaceutical Packaging Market - The global market size was accounted for USD 123 billion in 2022 and is increasing over USD 284.57 billion by 2032, with a CAGR of 8.8% from 2023 to 2032.
- Beverage Packaging Market - The global market size was accounted for USD 114 billion in 2022 and is increasing over USD 185.74 billion by 2032 with a CAGR of 5.6% from 2023 to 2032.
- Cold Chain Packaging Market - The global market size was accounted for USD 26.95 billion in 2023 and is increasing around USD 88.21 billion by 2033 with a CAGR of 12.61% from 2024 to 2033.
Recent Developments
- In July 2023, 100 percent post-consumer recycled plastics (PCR) bottles were launched by Indian-based Berry Global and the United Kingdom-based cleaning company Bio-D Co, with an ethical and environmental focus.
- In November 2023, a new ultra-light, ultra-small PET bottle for dairy products was launched by Sidel, and it aimed to offer competitive benefits for liquid dairy manufacturers. These bottles may be used for tea, isotonic, soft drinks, nectar, and juice sector.
- In November 2023, a new automated liquid product packaging system, the CRYOVAC Brand 308A CE Vertical Form Fill Seal System, was launched by SEE (Sealed Air).
- In March 2024, a new series of sterilizers, the SBM Essential Line, was launched by liquid or solid packaging and processing technology expert Syntegon subsidiary Schoeller Bleckmann Medizintechnik (SBM).
- In April 2024, Shubham Flexible Packaging Machines launched an antiseptic liquid packaging machine and also organized its live demonstration. The machine may run with a speed range from 12000-24000 packs per hour depending upon the packaging volume of the product.
- In April 2024, a new sustainable whisky packaging to reduce carbon footprints without affecting durability was launched by James Cropper and Bruichladdich. These are made from fully recyclable paper pulp.
Market Key Players
- BillerudKorsnäs AB
- Klabin Paper
- Evergreen Packaging Inc.
- Comar LLC
- Mondi PLC.
- International Paper Company
- The DOW Chemical Company
- Liqui-Box Corporation
- Nippon Paper Industries Co., Ltd.
- Tetra Laval International S.A.
- Smurfit Kappa Group
Market Segmentation
By Packaging Type
- Flexible
- Sachets
- Films
- Pouches
- Rigid
- Bottles
- Paperboard
- Drums
- Cans
- Containers
By Raw Material
- Paper
- Plastics
- PP
- PET
- PE
- Glass
- Metal
By Technique
- Modified Atmosphere Packaging
- Aseptic Packaging
- Intelligent Packaging
- Vacuum Packaging
By End-use
- Personal Care
- Food & Beverage
- Chemicals
- Pharmaceuticals
- Petrochemicals
- Household Care
By Regions
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
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