– The global liquid packaging market is expected to experience notable growth by 2028, owing to its high quality packaging. The plastics sub-segment is expected to be the most lucrative. The Asia Pacific region is expected to dominate the market.
NEW YORK, September 29, 2021 / PRNewswire / – Research Dive has added a new report to its offering titled “Liquid packaging market by material (plastics, glass, metal and others), technology (aseptic liquid packaging, blow molding and form / fill), packaging format (flexible and rigid), end-use industry (food and beverages, personal care, pharmaceutical, household and industrial care) and regional analysis (North America, Europe, Asia Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028“.
According to the report, the Global liquid packaging market should generate a turnover of $ 501.2 billion by 2028, more and more quickly to a 4.6% CAGR during the forecast period (2021-2028).
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The liquid packaging ensures the safety of the liquid from physical damage such as bumps or bruises due to its durable and high quality packaging to keep the products inside safe. In addition, the increasing application of efficient liquid packaging by the various food delivery services like Swiggy and Zomato is further expected to drive the market growth during the forecast period. However, growing environmental concerns regarding recyclability and disposal of plastics are expected to hamper market growth during the forecast period. But the growing prevalence of sustainable and innovative packaging made from organic materials like corn starch, sugar cane, etc. is expected to create plenty of opportunities for the growth of the liquid packaging market during the forecast period.
Impact of COVID-19 on the liquid packaging market
The COVID-19 outbreak has had a significant impact on the global liquid packaging market, due to the bottlenecks prevailing in various countries around the world. The closures have resulted in the closure of various outlets around the world, increasing the demand for online shopping. More and more people around the world have started ordering online for delivery of many products from various e-commerce platforms like Amazon and Flipkart, which are leaning towards adopting protective packaging for safe and transparent product delivery. Thus, the pandemic has had a positive impact on the growth of the liquid packaging market.
Access a comprehensive analysis of the impact of Covid-19 on the liquid packaging market
The report has divided the market into various segments based on material, technology, packaging format, end-use industry, and region.
- By material, the plastics sub-segment is expected to be the most profitable and generate sales of $ 197.6 billion during the forecast period. Plastics are widely used in the packaging industry, due to their various advantages such as durability, lightness, cost effectiveness, hygiene and safety. These factors are expected to drive the growth of the sub-segment during the forecast period.
- By Technology, Aseptic Liquid Packaging sub-segment is expected to be the most profitable and generate revenue of $ 248.3 billion during the forecast period. The increased portability and the protection against harmful bacteria that they provide are expected to drive the growth of the sub-segment during the forecast period.
- By packaging format, the rigid sub-segment of the liquid packaging market is expected to have the largest market share and generate revenue of $ 321.2 billion during the forecast period. Increased flexibility and presence of hard plastics in rigid packaging is expected to accelerate the growth of liquid packaging sub-segment during the forecast period.
- In the end-use industry, the food and beverage sub-segment is expected to be the most lucrative with revenue of $ 178.3 million during the forecast period. The increasing application of liquid packaging in the food and beverage industry to effectively preserve food quality and minimize food waste is expected to drive the growth of this liquid packaging sub-segment during the forecast period.
- By region, the Asia Pacific The liquid packaging market is expected to have the highest growth rate, growing exponentially at a 5.2% CAGR during the forecast period. The increase in users of food delivery services and the growth of the middle class population in this region are expected to accelerate the growth of the sub-segment during the forecast period.
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Top 10 key players in the global liquid packaging market
Major market players include –
Amcor Plc, Goglio SpA, Mondi Plc, Tetra Pak International SA, Berry Global Inc., Sealed Air Corporation, Smurfit Kappa Group, ProAmpac, Constantia Flexibles, Gerresheimer AG and many more.
- Amcor plc
- Berry Global, Inc.
- Constantia Flexibles
- Gerresheimer AG
- Goglio SpA
- Mondi plc
- Sealed airline
- Smurfit Kappa Group
- Tetra Pak International SA
Educate yourself and get quick access to the summary report of the best business development strategies
These players work on developing strategies such as product development, mergers and acquisitions, partnerships and collaborations to support market growth.
For example, in February 2020, Liquibox, a global leader in liquid packaging and distribution, has acquired DS Smith Plc, the Plastics division of a UK multinational packaging company, in order to maximize Liquibox’s presence in the liquid packaging market.
The report also summarizes many important aspects including financial performance of key players, SWOT analysis, product portfolio and latest strategic developments.
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About the research dive
Research Dive is a market research company based in Pune, India. By preserving the integrity and authenticity of the services, the company provides services only based on its proprietary data model, constrained by the 360-degree research methodology, which guarantees a complete and accurate analysis. With unprecedented access to multiple paid data resources, a team of expert researchers, and a strict work ethic, the company delivers extremely accurate and reliable information. By reviewing relevant press releases, government publications, decades of business data, and technical and white papers, Research Dive delivers the services it needs to its clients on time. His expertise is focused on examining niche markets, targeting its key driving factors and detecting threatening obstacles. Complementarily, he also maintains a transparent collaboration with the main aficionados of the industry, which offers an additional advantage to his research.
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