Liquid Packaging Carton Market to Surpass USD 33.92 Billion by 2030 Drives Due to the Increasing Demand for Ready-To-Carry Food
SkyQuest projects that the liquid packaging carton market will attain a value of USD 33.92 billion by 2030, with a CAGR of 5.8% over the forecast period (2023-2030). The liquid packaging carton market growth is expected to be accelerated by the increasing demand for ready-to-carry food driven by the growing working population. The need for liquid packaging cartons for products such as ready-to-drink beverages and portable food items is on the rise, as more people opt for convenient food options that can be easily consumed.
Westford, USA, Aug. 23, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the liquid packaging carton market is experiencing expansion as it introduces ecologically friendly packaging solutions in response to growing environmental awareness. This trend is driven by increased consumer consciousness regarding sustainability and the environmental impact of packaging materials.
Browse in-depth TOC on “Liquid Packaging Carton Market”
- Pages – 157
- Tables – 121
- Figures – 77
Liquid packaging cartons play a crucial role in packaging beverages and dairy products, providing various benefits such as preservation, convenience, and protection from damage in the liquid packaging carton market. These cartons comprise paperboard, aluminium, and plastic materials, contributing to their durability and functionality.
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Prominent Players in Liquid Packaging Carton Market
- Tetra Pak International S.A.
- Elopak AS
- SIG Combibloc Group AG
- Evergreen Packaging LLC
- Nippon Paper Industries Co. Ltd.
- Refresco Group
- Adam Pack S.A.
- Stora Enso Oyj
- Comar Inc.
- Liqui-Box Corporation
- Weyerhaeuser Company
- Smurfit Kappa Group plc
- Greatview Aseptic Packaging Co. Ltd.
- TidePak Aseptic Packaging Material Co. Ltd.
- Lami Packaging (Kunshan) Co. Ltd.
- IPI S.r.l.
- BillerudKorsnäs AB
- Mondi plc
- Bio-PAPPEL SAB de CV
- KARTON S.p.A.
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Brick Cartons Segment is Expected to Grow the Market Due to a Rise in the Utilization of Packaging Juices
Brick cartons are expected to present a significant incremental opportunity, exceeding US$ 4.7 billion in the liquid packaging carton market. Brick cartons are widely utilized for packaging juices, milk, and other liquid products, offering tamper-proof packaging solutions. These containers not only extend the shelf life of the products but also protect against external environmental factors, ensuring the quality and freshness of the contents.
The market in North America holds the position as the largest liquid packaging carton market, and it is anticipated to maintain its leading role during the forecast period. This is attributed to the high demand for packaged drinks and the region’s relatively high per capita income. However, the growth rate in North America is expected to be marginal over the forecast period due to the stagnating demand in the region.
Industrial and Institutional Applications Segment is Expected to Dominate the Market Due to the Increasing Buying Power of Consumers
Industrial and institutional applications of liquid packaging cartons are projected to witness a steady CAGR of 5%. These versatile cartons come in various sizes and find applications across a range of industries. They are utilized not only for packaging finished consumer products such as beverages but also for storing and transporting industrial raw materials such as oil and lubricants in the liquid packaging carton market.
Regional markets in the Asia-Pacific are projected to exhibit substantial CAGR in the liquid packaging carton market during the forecast period. This growth can be attributed to several factors, including the increasing buying power of consumers, rising demand for packaged food and beverages, and the expanding population in these regions.
A comprehensive analysis of the major players in the liquid packaging carton market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Liquid Packaging Carton Market
- Refresco Group NV recently revealed its intention to acquire Tru Blu Beverages Pty Ltd, a prominent manufacturer of non-alcoholic beverages, as part of its expansion strategy into Australia. This acquisition is expected to enhance Refresco’s position as a global beverage solutions provider for branded customers and leading retailers.
- Greatview Aseptic Packaging Co. Ltd announced its plans to acquire the assets of Alternapak Production SRL, located in San Pietro in GU, Italy, in 2022. Alternapak Production SRL supplies aseptic cartons to significant players in the liquid food industry across Europe, the Middle East, and the Americas. The acquisition is a strategic move by Greatview to bolster its position as a trusted and reliable partner to customers in the liquid dairy and non-carbonated beverage sector.
Key Questions Answered in Liquid Packaging Carton Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
Related Reports in SkyQuest’s Library:
Global Advanced Packaging Market
Global Food Packaging Equipment Market
Global Beverage Carton Packaging Machinery Market
Global Flexible Paper Packaging Market
Global Hot Drinks Packaging Market
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