Albany, New York Feb 26, 2021 (Issuewire.com) - The global market for liquid packaging cartons is expected to reach US$ XX Bn in revenues, by 2018 end. During the forecast period 2018-2028, the global liquid packaging carton market is projected to expand at a CAGR of xx%. Growing consumer preference toward packaged food and beverages will continue to drive the market by 2028 end.
Coupled with the increasing adoption of packaged foods and beverages among consumers worldwide, the recyclability of uncoated paperboard materials is estimated to remain the key driver to the market growth over the forecast period. Moreover, several governments across the globe are supporting beverage cartons, owing to their eco-friendly properties and lower carbon footprint. Facilitated storage, transportation, minimal wastage will play a key role in pushing the usage of cartons among beverage manufacturers. Convenient use and extended shelf life of beverages are the key factors expected to continue fueling the adoption of beverage cartons by consumers. More than xx% growth of the global food retail industry is also a key driver catapulting the global liquid packaging cartons market.
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The superiority of glass containers and plastic packaging over liquid cartons in maintaining original taste, preventing contamination, affordability, durability, and reusability will remain longstanding challenges to the growth of liquid packaging cartons globally.
Key players in the global market for liquid packaging cartons include Elopak Inc., Evergreen Packaging Inc., IPI s.r.l., Refresco Gerber N.V., SIG Combibloc GmbH, Tetra Pak Inc., Weyerhaeuser Company, Nippon Paper Industries Co., Ltd, TidePak Aseptic Packaging Material Co., Ltd, and Adam Pack s.a.
Based on product type, the liquid packaging carton market is expected to witness the highest growth in the gable top containers segment, attributed to the growing consumption of milk and other dairy products. Demand for shaped cartons is also anticipated to increase. On the basis of opening type, the twist opening segment will thrive significantly, owing to the rising need for the re-closable features. The straw-hole segment will create the most lucrative market for beverage cartons over the forecast period.
The global liquid packaging cartons market is projected to witness a CAGR of XX% during the forecast period 2018-2028. Asia Pacific will remain a prominent market, gaining 170 BPS and registering a CAGR of XX% by 2028 end.
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Based on material type, demand for aluminum in liquid packaging cartons is anticipated to propel, attributed to the burgeoning consumption of processed milk. On the basis of application, the wine and spirits segment will register the highest CAGR by 2028 end, compared to dairy products, and juices, and drinks.
According to region, Europe will remain the dominant market over the forecast period, followed by Asia Pacific – majorly China and India. Europe will witness a decline of 220 BPS, whereas APAC is expected to grow by 170 BPS, at a healthy CAGR of xx% by 2028 end. Market growth in APAC is attributed to growing consumption of carton milk and packaged beverages – 1.6X over the forecast period. The Asia Pacific will continue to represent the leading manufacturer, exporter, and consumer. APAC’s annual growth is slated to remain impressive over 6% during the forecast period. Prominent importers of beverage cartons include Australia, ASEAN countries, and Europe – led by France.
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