Hyderabad, Aug. 14, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Liquid Packaging Cartons Market Report (2023-2028)," the market is estimated at USD 11.95 billion in 2023. It is expected to register a CAGR of 4.90% during the forecast period.
Liquid packaging cartons protect the content from pollutants and extend the shelf life of edible and non-edible liquids. Fruit juices are susceptible to oxidation, driving the need for quality control in packaging. Urbanization, higher consumer spending, and increasing disposable incomes of the population are driving the demand for liquid packaging cartons. Eco-friendly cartons are gaining popularity due to environmental awareness and government policies.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 11.95 billion |
| Market Size (2028) | USD 15.18 billion |
| CAGR (2023-2028) | 4.90% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Demand for quality control. |
| Environmental concerns and supportive government policies. |
Who are the Top Companies in the Global Liquid Packaging Cartons Market?
The market is fragmented, with the presence of prominent and local players. Growing collaborations, mergers, and acquisitions will also likely support the market expansion in the coming years.
The significant players in the global liquid packaging cartons market are,
- Elopak AS
- Evergreen Packaging LLC
- Greatview Aseptic Packaging Co. Ltd
- Mondi PLC
- Refresco Group NV
- SIG Global Pte. Ltd
- Tetra Laval International SA
- Nippon Paper Industries Co. Ltd
- IPI SRL
Other Reports That Might Be of Your Interest:
- Beverage Packaging Market Report - The beverage packaging market size is estimated at USD 143.02 billion in 2023. It is expected to reach USD 175.26 billion by 2028, at a CAGR of 4.15% during the forecast period (2023-2028).
- Pharmaceutical Glass Packaging Market Report - The pharmaceutical glass packaging market size is estimated at USD 28.27 billion in 2023. It is expected to reach USD 36.58 billion by 2028, at a CAGR of 5.29% during the forecast period (2023-2028).
Key Highlights from the Global Liquid Packaging Cartons Market Report:
Increasing Demand for Dairy Beverages
- Steady growth in the dairy beverage market, especially in Asia-Pacific, drives the use of aseptic packaging for milk. Increasing consumer preference for packaged milk is driving the demand for liquid carton packaging solutions.
- Milk has traditionally been packaged in cartons due to protection and eco-friendliness. Paperboard, a common material, is used to create milk cartons. Cartons offer longer shelf life, lower contamination risk, and easy re-closure.
- Sustainability concerns over plastic usage are shifting the attention toward eco-friendly brick-liquid cartons.
Asia-Pacific to Witness the Highest Growth
- Millennials in Asia-Pacific are major consumers of packaged beverages like dairy products, soft drinks, and juices. To tap this opportunity, leading beverage companies are entering China and India, boosting the liquid carton packaging industry in Asia-Pacific.
- Sustainability concerns, technological advancements, and appealing economics are influencing the liquid packaging market positively in China. India's booming FMCG market also contributes to the demand for liquid carton packaging.
- With government initiatives to reduce carbon footprints and promote sustainable packaging, liquid carton packaging in Asia-Pacific is projected to witness growth in the coming years.
What are the Latest Developments in the Global Liquid Packaging Cartons Market?
- In October 2022, Refresco Group NV announced its plans to acquire Tru Blu Beverages Pty Ltd to strengthen its position as a beverage solutions provider.
- In August 2022, Greatview Aseptic Packaging Co. Ltd announced its plans to acquire the assets of Alternapak Production SRL at San Pietro in Gu, Italy, to strengthen its position in the liquid dairy and non-carbonated beverage industry.
Mordor Intelligence has Segmented the Global Liquid Packaging Cartons Market Based on Liquid Type and Geography.
- By Liquid Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Milk
- Juices
- Energy Drinks
- Other Liquid Types
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Europe
- France
- United Kingdom
- Germany
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia and New Zealand
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Liquid Packaging Cartons Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- North America Flexible Packaging Market Report - The North American flexible packaging market size is estimated at USD 44.66 billion in 2023. It is expected to reach USD 51.25 billion by 2028, at a CAGR of 2.79% during the forecast period (2023-2028).
- Indonesia Flexible Packaging Market Report - The Indonesian flexible packaging market size is estimated at USD 4.17 billion in 2023. It is expected to reach USD 5.26 billion by 2028, at a CAGR of 4.75% during the forecast period (2023-2028).
- United Arab Emirates Packaging Market Report - The UAE packaging market size is estimated at USD 8.87 billion in 2023. It is expected to reach USD 10.20 billion by 2028, at a CAGR of 2.84% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
Attachment
