Research Nester published a report titled “Liquid Packaging Cartons Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global liquid packaging cartons market in terms of market segmentation by carton type, durability, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global liquid packaging cartons market is projected to grow at a CAGR of ~6% by attaining robust revenue during the forecast period, i.e., 2022 – 2031. Higher consumption is anticipated to propel the growth of the market during the forecast period. Growing consumption of ready-to-drink beverages is also anticipated to hike the growth of the market over the forecast period. For instance, in 2020, around 40 million proof gallons of vodka were imported to the United States. Additionally, the rising demand for liquid packaging cartons in food packaging is further estimated to propel the market growth over the forecast period. The United States Environmental Protection Agency (EPA) stated that 14.5 million tons of plastic containers and packaging were produced in 2018.
Additionally, by end-user, the global liquid packaging cartons market is segmented into dairy products, liquid food, alcoholic beverages, non-carbonated soft drinks, and others. Out of these sub-segments, the non-carbonated soft drinks segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to the significant utilization of liquid packaging cartons in the soft drinks industry. As of 2022, the soft drink segment was estimated to generate USD 3 billion.
Furthermore, the global liquid packaging cartons market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at pace over the forecast period on the back of growing disposable income. In 2021, in the United States, the disposable income in the USA reached approximately USD 15000 billion which increased from about USD 14000 billion.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Higher Consumption and Production of Milk to Foster the Growth of the Market
Around 800 million tonnes of milk was produced globally in 2018 which was an increase from 500 million tonnes in 1988.
Milk is one of the basic requirements for people and is consumed on a daily basis. Milk is distributed in packages and cartons in urban areas and purchased massively across the globe. the total consumption of milk in India was estimated to be about 80,000 thousand metric tons in 2021. Therefore, such a demand is anticipated to propel the growth of the market during the forecast period.
However, a decline in the utilization of packaging cartons due to global warming is expected to operate as a key restraint to the growth of the global liquid packaging cartons market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global liquid packaging cartons market which includes company profiling of Adam Pack S.A., Tetra Laval Group, BillerudKorsnäs AB, Smurrfit Kappa Group, Greatview Beijing Trading Co., Ltd, Reynolds International Pen Company, Liqui-Box Corporation, ONEX Corporation, Nippon Paper Industries Co., Ltd., and Comar, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global liquid packaging cartons market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.