Market Research Future (MRFR) has published on the “Global Liquid packaging Market”.
MRFR recognizes the following companies as the key players in the global liquid packaging market— constantia flexibles, tetra laval, smurfit kappa group plc, berry global group inc, gerresheimer ag, sig combibloc group ag, goglio s.p.a., proampac llc, reynolds group holdings ltd, amcor ltd, mondi plc, sealed air corporation, sonoco products company.
The global liquid packaging market is accounted to register a CAGR of 4.90% during the forecast period and is estimated to reach USD 512.9 Billion by 2032.
Due to rising consumer demand for practical and environmentally friendly packaging options, the global market for liquid packaging is expanding. Market expansion is fueled by elements like increased beverage consumption, evolving lifestyles, and stringent packaging material requirements. Different liquid packaging formats, such as bottles, cartons, pouches, and cans, have opportunities.
The global liquid packaging market has been segmented based Material, Packaging Type, Technology and End User.
On the basis of Material, the market is segmented into Paperboard, Plastics, Glass, Metal, Others. The plastics segment dominated the market in 2022. Plastic packaging is typically less expensive than packaging made of glass or metal.
Based on Packaging Type, the global liquid packaging market has been segmented into Flexible & Rigid. The rigid segment dominated the market in 2022. On rigid packaging, there is much of opportunity for branding and labelling.
Based on Technology, the global liquid packaging market has been segmented into Aseptic Liquid Packaging, Blow Molding, and form Fill Seal. The form fill seal segment dominated the market in 2022. The FFS method is incredibly efficient and speeds up packaging operations. It integrates various procedures—like moulding the packing material, filling it with the liquid product, and sealing it—into a single continuous operation.
Based on End User, the global liquid packaging market has been segmented into Food & Beverage, Personal Care, Pharmaceutical, Household Care, Industrial and Others. The food & beverage segment dominated the market in 2022. The food and beverage industry needs liquid packaging solutions for a wide variety of products.
The global liquid packaging market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe liquid packaging market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The liquid packaging market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World liquid packaging market comprises of Middle East, Africa, and Latin America.
The Asia-Pacific Liquid packaging market dominated this market in 2022 (45.80%). The main causes of development include the expansion of the pharmaceutical and food and beverage industries as well as the relocation of manufacturing facilities as a result of the area's low operating and labour expenses.
The second-largest market share was held by the liquid packaging market in North America. The U.S. is seen as the primary contributor to the growth of the region due to the huge need for liquid packaging and the region's increased preference of paper products over other damaging materials. The demand for liquid packaging in North America is predicted to increase as a result of these reasons in the future years.
Moreover, from 2023 to 2032, the liquid packaging market in Europe is anticipated to experience the fastest CAGR growth. Europe has some of the strictest rules and requirements when it comes to packaging materials, food safety, and environmental sustainability. Regulations seek to protect the environment, encourage proper hygiene, and guarantee the safety of products. These regulations assist the development of the liquid packaging industry in Europe by promoting the adoption of cutting-edge, ecologically friendly packaging choices.
Furthermore, as the packaged food business and beverage consumption in the region rise, so does the demand for liquid packaging. Market expansion is fueled by elements such shifting customer preferences, urbanisation, and the demand for practical and environmentally friendly packaging. In the broad and developing market of Latin America, there are opportunities for numerous liquid packaging formats.
Key Findings of the Study