Global Liquid Packaging Market to Reach Around US $589 Billion by 2025: TMR
Albany, NY -- (SBWire) -- 10/22/2018 --Liquid packaging is used to protect and transport liquid products. Changes in consumer behavior and a rise in the number of people migrating from rural to urban areas are driving the liquid packaging market. Liquid packaging is widely utilized in the food & beverage industry in order to facilitate the transport of liquid goods and to increase the shelf-life of products. Liquid packaging is also extensively employed in the pharmaceutical industry for packaging liquid drugs. The global liquid packaging market is anticipated to expand at significant growth rate, driven by the increasing demand from automotive, construction, and manufacturing industries.
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The liquid packaging market has been segmented based on packaging type, raw material, technique, and end-use industry. In terms of packaging type, the liquid packaging market can be classified into flexible and rigid. The flexible packaging segment can be further sub-segmented into films, sachets, pouches, and others. The rigid packaging segment can be further split into paperboard, bottles, cans, drums & containers, and others. In terms of value, rigid packaging was the dominant segment, accounting for more than 88% share of the market in 2016. Rigid packaging is extensively utilized to manufacture packaging for beverages, and pharmaceutical drugs. This is due to the excellent properties of rigid packaging such as ease of transport and carrying and excellent shelf-life. However, the liquid packaging market has witnessed increasing usage of flexible materials for packaging liquid over the last few years. For instance, sachets, pouches are widely employed for packaging various personal care products in developing countries such as India. Hence, flexible packaging is expected to be a lucrative segment, especially for the personal care industry in developing countries. The rigid packaging segment is projected to expand at a significant growth rate during the forecast period.
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In terms of region, Asia Pacific witnessed significant demand for liquid packaging, accounting for over 37% share of the market in 2016. This is due to the expansion of food & beverage and pharmaceutical sectors, favorable government policies for manufacturers, and the shifting of the production facilities by major players due to the low labor and operating costs. The liquid packaging market in Europe is likely to contract marginally during the forecast period, as economies of countries in Europe is in the recovery phase and the region is a mature market for liquid packaging. The market in North America is expected to expand at a moderate growth rate during the forecast period. The significant contribution from the U.S., which is considered as a prominent market for liquid packaging, and increasing usage of paper products in the region are expected to drive the demand for liquid packaging in North America in the near future.
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Key players profiled in the liquid packaging market 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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