Liquid Packaging Carton Market Is Expected to Reach $16,768 Million, Globally, by 2022
though paperboard cartons are widely used for packaging due to their recyclability and non-toxic nature, with the decrease in prices and weight, coupled with the development of better recyclable procedures, the consumers are expected to switch toward other options as glass and plastics
Portland, OR -- (SBWire) -- 06/16/2017 --Liquid Packaging Carton Market report, published by Allied Market Research, forecasts that the global market is expected to garner $16,768 million by 2022 from $12,117 million in 2015, registering a CAGR of 4.8% during the period 2016 - 2022. The integrated radiology information systems segment held over three-fifths share of the total market in 2015.
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Liquid foods and alcoholic drinks end use segments are expected to grow at a faster rate, in terms of revenue, with a CAGR of 6.2% and 5.7%, respectively.
Growth in consumer demands for ready-to-carry & convenient products and the environment friendly nature of paperboard cartons are the factors that fuel the growth of liquid packaging carton market. In addition, the advantages of liquid packaging cartons over conventional packaging systems such as glass, plastic, and metal cans supplements the market growth.
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Brick top liquid cartons accounted for nearly half of the liquid packaging carton market revenue in 2015. Paperboard long shelf life carton materials dominated the market, generating around two-thirds of the revenue in the same year. Asia-Pacific is expected to witness the fastest growth, owing to the rise in demand for packaged food products and spending power of consumers in the emerging economies.
Key Findings of the Liquid Packaging Carton Market:
-Though Europe is projected to continue to dominate the liquid packaging carton market, Asia-Pacific will grow at a high CAGR of 6.1%.
-North America accounted for more than one-fourth share of the liquid packaging carton market, in volume terms, with a CAGR of 3.9%.
-Germany dominated in the European liquid packaging carton market, and is expected to grow at a CAGR of 3.9%.
-Liquid dairy products and non-carbonated soft drinks end use segments dominate the liquid packaging carton market together with over two-thirds revenue share in 2015.
-Brazil dominated the liquid packaging carton market in LAMEA region, and is estimated to grow at a CAGR of 5.7%.
Europe contributed to around one-third of the market revenue in 2015 followed by North America and Asia-Pacific. U.S. alone accounted for nearly one-fourth share of the overall revenue in 2015, owing to dominance in demand for packaged food products. Technological developments in production processes are expected to lead to a lower cost of production and superior sustainability, leading to improvement in performance efficiency.
The prominent players profiled in this report include Elopak As, Evergreen Packaging Inc., Greatview Aseptic Packaging Co., Ltd., Klabin SA, Liqui-Box Corporation, Refresco Gerber N.V., SIG Global, Tetra Pak Inc., TidePak Aseptic Packaging Material Co., Ltd., Nippon Paper Industries Co. Ltd., and others.
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