Impact of COVID-19 on Liquid Packaging Market : Implications on Business
Global Liquid Packaging Market: Highlights
- The global Liquid packaging market is projected to grow at a CAGR of nearly 5% between 2019 and 2027. Expansion of the global liquid packaging market is driven by the increase in consumption of beverage, along with an increase in focus on brand image through innovative packaging.
- The food & beverage industry has been a key driver of the global liquid packaging market. Expansion of the packaged food industry is anticipated to boost the demand for liquid packaging during the forecast period. Additionally, rise in consumption of aerated drinks is likely to drive the liquid packaging market in the near future.
- Increase in focus on health and fitness is estimated to propel the demand for bottled water in developed countries. This trend is likely to continue during the forecast period, making the expansion of end-use industries a key driver of the liquid packaging market.
- Increasing focus on health and hygiene is driving the consumption of bottled water in developing countries such as India, China, and countries in GCC. Increase in the demand for packaged drinking water is estimated to propel the global liquid packaging market.
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- Minimalistic packaging design that is elegant and simple and creation of appealing aesthetics by eliminating non-essential content are expected to be key trends in the next few years.
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Global Liquid Packaging Market: Segmental Trends
- In terms of product type, rigid packaging held majority of the share in global liquid packaging market in 2018. The rigid packaging segment can be further split into paperboard, bottles, cans, drums & containers, and others. The significant market share is attributed to the excessive usage of plastic bottles in the food & beverage, pharmaceutical, and personal care end-user industries.
The flexible packaging segment can be further sub-segmented into films, sachets, pouches, and others.
- Plastics segment dominated the global liquid packaging market by raw material in 2018. The high share is attributed to the excellent cost-to-performance ratio, lightweight, and portability of plastic.
- In terms of technique, the liquid packaging market has been segregated into aseptic packaging, modified atmosphere packaging, vacuum packaging, and intelligent packaging. Modified atmosphere packaging was the dominant technique segment, accounting for a major share of the market in 2018.
- Food & beverage end-use segment accounted for more than 25% share in global liquid packaging market. The food & beverage segment is anticipated to expand at a significant growth rate during the forecast period. Expansion of the segment is attributed to the increasing focus on health and hygiene, which is driving the consumption of bottled water in developing countries such as India, China, and countries in GCC.
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Global Liquid Packaging Market: Competition Landscape
- Brand managers are under pressure to develop new products with differentiation owing to an extremely competitive and fast-moving consumer market. Packaging design is a key driver for sales, as consumers have become brand conscious.
- Companies operating in the global market for liquid packaging are focusing on in-licensing and collaboration agreements in order to launch new products in emerging markets such as Asia Pacific, and Latin America.
- Key players covered in this report include Tetra Laval International S.A., Comar LLC, Evergreen Packaging Inc., Liqui-Box Corporation, BillerudKorsnäs AB, International Paper Company, Klabin Paper, Nippon Paper Industries Co., Ltd., Smurfit Kappa Group, The DOW Chemical Company, and Mondi PLC.
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