Press release
Global Liquid Packaging Cartons Market to Record a Sluggish CAGR of 5.5% by 2024
According to the latest market report published by Persistence Market Research titled “Global Market Study on Liquid Packaging Cartons Market: One Third of Beverage Producers in Europe Procure Liquid Packaging Cartons from Asian Manufacturers, which likely to Increase over the Forecast Period” globally, the revenue generated from sales of liquid packaging carton market has been estimated to be valued over US$ 12.0 Bn by 2016 end, and is projected to increase at a CAGR of 5.5% during 2016-2024.
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These liquid packaging cartons are used for storage and safe transportation of liquid products, moreover, these cartons are available in different size, shapes, and designs according to the need of a liquid product manufacturer. One of the primary drivers for the growth of liquid packaging carton is the eco-friendly and recyclable properties of liquid packaging carton, furthermore, the rising demand for packaged foods & beverages is also expected to increase the consumption of liquid packaging carton.
Gable top cartons are expected to be the growing product type segment due to the wide consumption of dairy products, particularly milk. Adding to the product type segment, demand for shaped cartons is anticipated to increase due to the differentiating factor that the carton possesses. Moreover, the need for re-closable feature has driven the demand for twist opening segment in liquid packaging cartons market, whereas straw hole opening segment in the liquid packaging carton is expected to be the attractive market due to its availability in small size packs.
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The demand for aluminium in the liquid packaging carton is also anticipated to increase due to the increasing consumption of processed milk. According to the application type, wine & spirits are expected to witness the highest CAGR during the forecast period of 2016-2024.
Europe is likely to dominate the liquid packaging carton market, but demand is anticipated to shrink, which is forecast to lose 220 BPS over next five to six year against Asia Pacific. Asian markets are well positioned to gain the advantage of manufacturing epicentre of the globe, where demand for liquid packaging cartons is forecast to expand by 170 BPS by 2024 end. Annual growth in Asia Pacific market is also slated to remain impressive over 6% during the forecast period, translating into 1.6X growth between 2016 and 2024.
Global leaders in liquid packaging carton 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.
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About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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