Allied Market Research published a research report on the liquid packaging market. The findings of the report states that the global market for liquid packaging generated $331.8 billion in 2019, and is projected to reach $463.2 billion by 2027, witnessing a CAGR of 4.5% from 2020 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
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The report provides insights on drivers,
restrains, and opportunities to help market players in devising growth
strategies and capitalizing on opportunities. Increase
in demand for fast-moving consumer goods (FMCG), rise in online food delivery
services, and adoption of lightweight & sustainable packaging drive the
growth of the global liquid packaging market. On the other hand, increase in
concerns related to recyclability & disposability of plastic packaging
products and strict government regulations impede the market growth. However,
emergence of nano-food packaging and inclination toward renewable and
innovative packaging solutions present new opportunities in the industry.
“The growing demand for food & beverage, cosmetic
products, consumer goods, and healthcare products are the biggest drivers of
the global liquid packaging market. Manufacturers of liquid packaging
collaborate with leading beverage makers to design and develop innovative
packaging solutions. Liquid packaging as a primary packaging is useful in
establishing a brand and creating its own identity among potential consumers.
In addition, proclivity of consumers toward sustainable as well as convenient packaging
drive the development of light-weight reusable & recyclable liquid
packaging.” said
Eswara Prasad, the Manager, Chemical and Material at Allied Market Research.
The report provides a detailed scenario of the
impact of the Covid-19 pandemic on the liquid packaging market globally. It is
helpful for market players, new entrants, and investors in terms of determining
new strategies as per the current scenario and improvising the business model
for the next few years. The outbreak of the pandemic gave way to rise in the
trend of online grocery shopping and accordingly, there has been a steep increase
in the demand for liquid packaging. Also, surge in use of hand washers and
sanitizers has led to growing need to manufacture liquid packaging materials.
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The report offers detailed segmentation of the
global liquid packaging market based on materials, technology, packaging
format, end user, and region. These
insights are helpful for new as well as existing market players to capitalize
on the fastest growing and largest revenue generating segments to accomplish
growth in the future.
By material type, the plastic
segment contributed to the major share in 2019, accounting for more than
one-third of the global liquid packaging market, and is expected to maintain
its lead position during the forecast period. Simultaneously, the paperboard
segment is estimated to witness the highest CAGR of 5.6% from 2020 to 2027.
By packaging type, the rigid
segment held nearly two-thirds of the total market revenue in 2019, and would
lead the trail by 2027. At the same time, the flexible segment is anticipated
to cite the fastest CAGR of 5.8% from 2020 to 2027.
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By region, the region
across North America would cite the fastest
CAGR of 5.4% throughout the forecast period. At the same time, Asia-Pacific held nearly two-fifths of the total share of the
global liquid packaging market, and would retain its dominance by the end of
2027.
Leading market players of the global liquid
packaging market analyzed in the report include Berry
Global, Constantia Flexibles, Goglio S.p.A., MONDI Plc, ProAmpac, Reynolds
Group Holdings Ltd., Amcor Limited, Sealed Air Corporation, Tetra Laval,
Gerresheimer AG, SIG Combibloc Group
Ltd., Smurfit Kappa, and Sonoco Products Company.
About
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respective market domains.
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