Dublin, Oct. 26, 2023 (GLOBE NEWSWIRE) -- The "Global Liquid Carton Market (by Shelf Life, Type, End Use, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
The global liquid carton market is on a growth trajectory and is projected to reach a value of US$15.64 billion by 2023, experiencing robust Compound Annual Growth Rate (CAGR) of 3.17% during the forecast period. Additionally, the market volume is expected to rise to 246.60 billion units by 2023, with a CAGR of 4.02% during the projected period.
Understanding Liquid Cartons
Liquid packaging cartons are versatile containers designed to safely transport and store liquid products. They find extensive use in packaging fast-moving consumer goods (FMCG). These cartons come in various sizes, shapes, and types, offering flexibility in design and customization to meet packaging requirements.
Segmentation
- By Shelf Life: The global liquid carton market is categorized into two segments based on shelf life: aseptic liquid cartons and fresh liquid cartons. Currently, the aseptic liquid carton segment holds the majority share in the market, while the fresh liquid carton segment is expected to exhibit significant growth. Factors contributing to the growth of fresh liquid cartons include the rising health and fitness trend, convenience, distribution efficiency, and increased use of sustainable alternatives.
- By Type: In terms of type, the market is divided into three segments: brick liquid carton, gable top carton, and shaped liquid carton. The brick liquid carton segment dominates the market, followed by the gable top carton and shaped liquid carton segments.
- By End Use: The market is further segmented based on end use into three categories: dairy products, juice, and others. The dairy products segment commands the highest share in both the fresh liquid carton and aseptic liquid carton markets.
Geographic Coverage
The global liquid carton market spans five major regions: North America, Europe, Asia Pacific, Middle East & North Africa, and Latin America. North America includes the US, Mexico, and Canada, while Europe encompasses the UK, Germany, France, Spain, Italy, and the Rest of Europe. The Asia Pacific region comprises China, Japan, India, South Korea, and the Rest of Asia Pacific. Asia Pacific currently leads the market, driven by the increasing demand for packaged milk and growing consumer awareness of highly sustainable packaging. Within Europe, Germany is the market leader due to the rising demand for plant-based beverages. In North America, the US dominates the market, aided by increasing disposable income and lifestyle changes.
Key Drivers
- Increased Consumption of Packaged Beverages: The growth of the liquid carton market is propelled by increased consumption of packaged beverages, reflecting changing consumer preferences and lifestyles.
- Growing Health & Wellness Spending: Rising awareness of health and wellness has led to increased spending on products packaged in liquid cartons.
- Convenience and Distribution Efficiency: Liquid cartons offer convenience and efficiency in distribution, supporting their adoption across various industries.
- Longer Shelf Life: Aseptic cartons, in particular, contribute to longer shelf life, reducing food and beverage waste and driving demand.
Challenges
- Surge in Usage of Alternative Packaging Material: Consumer preference for plastic containers and the increasing use of alternative packaging materials can hinder demand for liquid cartons.
- Reduced Milk Consumption: A decline in milk consumption affects the dairy industry and, consequently, the liquid carton market.
Trends
- Increased Consumption of Milk Alternatives: The rise in popularity of milk alternatives contributes to the growth of the liquid carton market.
- Surge in Consumption of Ready to Drink Beverages: Ready-to-drink beverages are driving market growth, catering to consumers seeking convenience.
- Innovative and Attractive Packaging: Innovative and attractive packaging designs are enhancing the appeal of liquid cartons, attracting consumers.
- Expansion of Different Industries: Liquid carton manufacturers are exploring opportunities in industries such as homecare, beauty, and lifestyle.
Impact of COVID-19
The COVID-19 pandemic had mixed effects on the liquid carton market. Initially, stockpiling of packaged beverages led to increased demand for liquid cartons. However, later phases of the pandemic, including supply chain disruptions, affected out-of-home consumption, impacting the use of liquid packaging cartons.
Analysis of Key Players
Tetra Pak (Tetra Laval Group) dominates the global liquid carton market, holding approximately two-thirds of the market share. Key players in the market include:
- Mondi plc
- Refresco Group B.V.
- Pactiv Evergreen Inc.
- SIG Combibloc Group AG
- Greatview Aseptic Packaging Company
- BillerudKorsnäs
- Ferd Group
- Liquid Box
- Nippon Paper Industries Co., Ltd.
- Uflex Limited
- Adam Pack S.A.
- Smurfit Kappa Group plc
For more information about this report visit https://www.researchandmarkets.com/r/nnmwmf
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