This Persistence Market Research report examines the global liquid packaging carton market for the forecast period 2016-2024
New York, NY -- (SBWIRE) -- 11/16/2017 -- Liquid packaging carton, is also referred as beverage carton, used for safe storage and transportation of liquid products. These cartons are available in different sizes, shapes and designs according, which is subjected to the need of liquid product and manufacturers branding strategy. According to its nature of the application or usage, liquid packaging carton can be made up of uncoated paperboard & LDPE coated or uncoated paperboard, LDPE coated and aluminium coated. These liquid packaging cartons are primarily distinguished on the basis of product type, such as brick carton, gable top carton and shaped carton depending on its application. Adding to this, the opening of liquid packaging carton can also be differentiated between cut opening, straw hole opening, clip opening, twist opening and king twist opening, which is again subjected to its usage. Global sales of liquid packaging carton is estimated to be valued over US$ 12.0 Bn in 2016, and is projected to grow at a CAGR of 5.5% by the end of 2024.
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Attributes such as recyclability and environment friendly of liquid packaging cartons attracted beverage producers and they opted for the new packaging solution. Moreover, governmental support for products with low carbon foot print have also added to the increasing demand of liquid packaging beverage cartons. These factors collectively pushed beverage producers from conventional forms of packaging to advanced options, since, cartons ensure longer shelf life of the product, minimal wastage and convenience of use.
Consumer preference towards packaged food & beverages, out of home eating habits are consumer dependent factors which has catapulted the global liquid packaging cartons market. Furthermore, over 4% growth of global food retail is another crucial factor contributing to the demand of liquid packaging cartons.
Apart from favourable market environment for liquid packaging cartons, the industry also witnessed challenges from glass packaging. Packaging liquids in glass container or bottles has its own set of benefits which includes intact taste, reusability and negligible contamination. Plastic packaging solution is another alternative to liquid packaging cartons and are widely preferred due to its cost advantage characteristic and durability. Durability of plastic packaging for liquids make it a preferable choice among beverage producers. Nevertheless, we see substantial growth in global liquid packaging cartons, which is subjected to variation at region level, largely due to macro-economic factors, consumer dynamics and industrial establishments.
Persistence Market Research, in its report titled, "Liquid Packaging Carton Market" has segmented the global liquid packaging carton market by product type, opening type, material type, application type and region. On the basis of product type global liquid packaging carton market has been segmented into brick carton, gable top carton and shaped carton. On the basis of opening type, the market has been segmented into cut opening, straw hole opening, clip opening, twist opening and king twist opening. On the basis of material type, global liquid packaging carton market has been segmented into uncoated paperboard, LDPE coated and aluminium. On the basis of application the market has been segmented into dairy products, wine & spirits, juice & drinks and other products. Furthermore, dairy products are sub-segmented into milk and yogurt & buttermilk. Moreover juice & drinks is also sub-segmented into fruit juice, tea, coconut water and carbonated soft drinks. Lastly, on the basis of region, the global liquid packaging carton market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Europe is expected to dominate the liquid packaging cartons market and anticipated to lose 220 BPS during the forecast period 2016-2024. Asia Pacific which is another prominent market is projected to witness a gain of 170 BPS during same period, registering a healthy CAGR of 6.4% till 2024. Consumption of liquid packaging carton in Asia Pacific is expected to increase by 1.6X during the period. In Asia Pacific, India and China is likely to continue to dominate the APAC market for liquid packaging carton. These two countries not only consume liquid packaging cartons in large volume but are also the leading manufacturers in the region. Apart from domestic consumption, these Asian countries also account for substantial share of global liquid packaging exports. Prominent markets which import liquid packaging cartons from China and India are Australia, France and ASEAN countries.