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Liquid Packaging Market - Global Industry Analysis 2016 - 2024
Liquid Packaging Market
Based on packaging types, the liquid packaging market can be segmented into flexible packaging and rigid packaging. The flexible packaging segment is expected to witness significant growth during the forecast period, primarily due to convenience that flexible packaging offers in terms of transporting and storing liquid substances. Further, flexible packaging involves less energy consumption, increased efficiency, less cost, and higher sustainability. Rigid packaging has limited application in liquid packaging, and possess high cost. On the basis of plastic films, the market for liquid packaging can be segmented into LLDPE, BOPP, and PP, PE, and PET. Of these, PET and PP are expected to be dominant segments in the near future.
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On the basis of techniques, the market for liquid packaging has been divided into aseptic liquid packaging, blow molding, and form-fill seal technologies. Aseptic liquid packaging technique is projected to be a dominant segment of the market during the forecast period. Aseptic liquid packaging materials contains thin layers of aluminum and plastic and are primarily made of paperboard. Such packaging helps preserve food for a longer period of time without adding any preservatives.
Rising inclination toward packaged, semisolid food and beverages is a key factor that is likely to drive the liquid packaging market during the forecast period. Changing consumer lifestyle, increasing demand for eco-friendly products, and convenience of packaged drinks as compared to other packaging means such as glass packaging are some of the other factors, which are likely to drive the market during the forecast period. Still, glass bottle packaging is a major competitor to flexible packaging, due to a number of benefits which include intact taste, reusability, and negligible contamination.
On the other hand, cost advantage and durability of glass packaging can also hinder the growth of the liquid packaging market. Innovation in packaging techniques can act as an opportunity for the market players to meet the future demand of consumers, in terms of functionality, food safety, differentiated opening techniques, and cost-effectiveness of packaging. Additional opportunities lie in recycling of packaged material and use of renewable materials and equipment that consume less energy and generate wastes in less amount.
In terms of regions, the global market for liquid packaging can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the global market for liquid packaging in the near future. Growing population and rising disposable income in countries such as China, India, and Indonesia fuel the demand for liquid food. This has, directly or indirectly, resulted in significant growth in the liquid packaging market in Asia Pacific. Growth in the market in Europe is slow to moderate, whereas the market in North America is experiencing stagnation. South America, Africa, and Asia Pacific are the regions which are expected to drive growth in this market.
Key players operating in the liquid packaging market are Comar LLC, Liqui-Box Corporation, Tri-Wall Limited, Nippon Paper Industries Co., Ltd, The Dow Chemical Company, International Paper Company, Tetra Pak International S.A., Smurfit Kappa Group, Mondi Plc, Sidel International AG, BillerudKorsnas AB, Elopak Group, and Evergreen Packaging.
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