Global Liquid Packaging Cartons Market - 2022-2029

Global Liquid Packaging Cartons Market - 2022-2029

Market Overview

The global liquid packaging cartons market is valued at USD xx million in 2021 and is forecast to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029)

Liquid packaging cartons are containers, which enable safe transportation and storage of liquid products, and provide customized packaging based on the marketing requirements of manufacturers. These cartons are preferred by manufacturers due to their benefits such as convenience, maneuverability, recyclability, and eco-friendly attribute. They are specially designed for carrying liquids such as milk & dairy products, packaged water, liquid food products, soft drinks, and juices. The liquid packaging carton market growth is attributed to factors such as upsurge in demand for packaged food & beverages, convenience in carrying & transportation, innovation in packaging, and recyclable nature of cartons.

Market Dynamics:

The rising preference of consumers for ready to drink products is expected to drive the liquid packaging cartons market

Growing consumer preference for convenience food across developing regions is expected to drive the market. The growing preference for disposable income with a hectic lifestyle raises the demand for liquid packaging cartons. Growth in the packaging industry due to increasing investment and rising demand for eco-friendly and convenience packaging solutions is expected to augment the market growth of the liquid packaging cartons. Rising demand for easy recyclable liquid packaging solutions coupled with the strict government policies regarding the emissions of the harmful gases and greenhouse gases is further expected to accelerate the market growth of liquid packaging cartons over the forecast period.

Also, the rising demand for milk from around the globe drives the market. Milk is generally packaged in liquid packaging cartons. These cartons help avoid contamination and increase the shelf life of the milk.

Market Segmentation:

Gable top carton segment held largest market revenue share in the year 2021

Milk cartons are also known as gable top cartons. A gable top carton is more suitable for the milk as it protects milk from contamination and increases its shelf life of milk. Also, liquid carton packaging is eco-friendly and cost-effective. Some years back, glass bottles are used for the packaging of milk, but their weight is more and also there is the risk of breakage of a bottle, and it faces transportation issues as well. Gable-top cartons are lightweight, easy to transport, and cost-effective compared to bottles. They are ecofriendly and less costly to recycle. One of prominent factor fueling the gable-top liquid cartons market is the fast-moving consumer preference towards packaged food & beverages. The gable-top liquid carton market is growing due to the cost effectiveness of the gable-top liquid cartons when compared to the other rigid packaging solutions.

By application, fruit juice is a rapidly growing segment in the global liquid packaging cartons market. Most of the juices result in oxidation. Oxidation reduces vitamins and reduces product quality. Rise demand for the new design innovations in packaging impacts the growth of the market.

Geographical Penetration:

Asia Pacific is expected to dominate the global liquid packaging cartons market in the year 2021

The rising consumption of milk and juices in the Asian countries, including China, Japan, South Korea, and many more, is expected to contribute to this market growth in the coming years. Developing countries such as China and India have the highest ratio of population growth with the rising working population. It directly impacts the consumption rate of liquid packaging products across the region, thus exhibiting the highest growth rate. In India, Amul sells 5% of its milk in liquid packaging cartons. Amul processed 26 million liters of milk daily to feed the growing population in India.

Competitive Landscape:

The global liquid packaging cartons market is fragmented. Some of the key market players are Tetra Pak, Nippon Paper Industries Co., Ltd., and Mondi among others. Some of the key strategies adopted by market players include acquisitions, product launches and capacity expansions. For instance, in March 2018, Tetra Pack introduced a new smart packaging concept in India. This concept allows manufacturers to print QR codes on cartons which can be scan y smartphones and gives full information about food safety, traceability, and plant productivity. Also, it provides information about the nearest recycling center. In December 2018, Nippon Paper Industries announced Liquid-Packaging Carton Price Revision. Due to rising demand for milk carton some companies expanded their production capacity. For instance, in 2020, UFlex (India's largest packaging material manufacturer) doubled its aseptic liquid packaging plant's capacity in Gujarat. The expansion is in response to the new contract and increased demand for aseptic packaging laminates. The company is expanding its operation team by adding more workforce. Uflex increased its aseptic plant's production capacity from 3.5 billion to 7 billion packs per year in response to the new contracts and increasing demand for its aseptic packaging laminates.

COVID-19 Impact: Negative impact on the global liquid packaging cartons market

The impact of COVID-19 reduced the demand for milk packaging cartons used for out of home consumption. For instance, SIG witnessed a decline in the cartons' sales as many of the school milk programs in Japan were suspended, which temporarily affected the company. The market witnessed observed stagnation until the lowdown period. The milk packaging in cartons was hampered as the liquid carton manufacturing facilities were halted across the country temporarily. Also, Tetra Pak India, which manufactures the packaging materials, had to stop operations after the government called for the lockdown. According to Dairy Australia, the monthly volume production of milk was at the highest in October 2019, having a volume production of 982.5 million and decreased to 623.8 million in 2020 June primarily due to the impact of COVID-19. This was slightly offset for the production of the paperboard cartons in the country.

However, following lockdowns lifting, consumption gradually returned to a more normal pattern in the second half of the year. Increased concern with healthy nutrition in the aftermath of the crisis led to strong demand for milk.

Why Purchase the Report?

Understand the current market scenario and viability of global liquid packaging cartons market over the forecast period

Visualize the composition of the global liquid packaging cartons market in terms of carton type, shelf life, application and liquid type to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global liquid packaging cartons market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market share analysis covering business revenues ($) and revenue share (%) of key market players

The global liquid packaging cartons market report would provide an access to approximately 69 market data tables, 64 figures and 180 pages

Target Audience:

Packaging Companies

Beverages Manufacturers

Milk Products Manufacturers

Import and Export Companies

Industry Investors

Education & Research Institutes

Research Professionals