Shaped Liquid Cartons Market Predicted to Reach Maximum Revenue and CAGR during 2019 to 2027
FactMR’s report on the shaped liquid cartons market has introduced remarkable insights about the steadily expanding market growing at a CAGR of around 7% during the forecast year of 2019 to 2027. The market analysis has revealed that the stringent emission standards and preference for eco-friendly & recyclable packaging solutions have led to the growth of shaped liquid cartons in the global market. The overall sales of shaped liquid cartons was pegged at more than US$ 2.4 Bn in 2018 and the global shaped liquid cartons market is likely to grow at a promising rate during the forecast period owing to growing demand for innovative packaging solutions across the developed as well as developing economies. In addition, the growing beverage industry along with changing consumer preferences are among the key factors anticipated to amplify the overall sales of shaped liquid cartons over the forecast period.
Among regions, East Asia is expected to hold the leading share in the global shaped liquid cartons market owing to a significant increase in beverage packaging solutions in the global market. The growing demand for eco-friendly and innovative beverage packaging solutions are projected to augment the growth of shaped liquid packaging market in the East Asia region. There are a large number of players present in East Asia shaped liquid packaging market. The key manufacturers in the shaped liquid cartons market around the globe are also focusing on expanding their production and sales footprint in the region. For example, on 30th July 2019, SIG Combibloc Group Ltd., a leading manufacturer of shaped liquid cartons announced the opening of a new production plant of aseptic carton packaging in Suzhou, China. Also, Tetra Pak International S.A., a leading manufacturer of shaped liquid cartons inaugurated a new aseptic carton packaging material factory in Binh Duong, Vietnam. This new production facility is catering to the growing demand of shaped liquid cartons in the East Asia market.
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Visual Presentation Becoming a Key Trend to Draw Consumer Attention and Create Brand Value
The study by FactMR also postulated that visual presentation of the product is a crucial factor in purchasing decision. The impact of visual presentation not only makes the consumer decision easy, but also draws consumer attention towards the product. Therefore, shaped liquid cartons are expected to be used as an effective tool for marketing and enable product differentiation.
Consumers are subconsciously drawn towards better packaged goods. Decision making is centered towards 1/3rd of packaging along with the personal preferences. A product having an impactful packaging format is perceived to be a better quality product. Therefore, manufacturers of various products especially food and beverage products focus on packaging like, shaped liquid cartons along with quality of the product in order to create brand value. This is driving the adoption of shaped liquid cartons across various end use sectors. For instance, on 20th August 2019, SIG Combibloc Group Ltd., a leading manufacturer of shaped liquid cartons introduced combidome carton pack for Maspex Wadowice Group, a leading food manufacturers in Central and Eastern Europe.
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Alcoholic Beverages Are Gaining Traction Owing to Price Economics and Effective Packaging
The traditional nature of glass has remained an asset in the wine market. However, changing consumer habits & perception and improvements in packaging technology have shifted focus of wine & spirits producers towards shaped liquid cartons. Furthermore, wine manufacturers are collaborating with shaped liquid cartons manufacturing companies in order to lower packaging costs. Wine packaged in glass bottles is priced significantly higher than wine packaged in shaped liquid cartons, owing to higher price of glass packaging. Therefore, lower packaging cost and increasing sales has made wine and spirits a lucrative sector for shaped liquid cartons.
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