Liquid Packaging Market to Perceive Substantial Growth | 2024
The
global market for liquid packaging is chiefly benefitting from the
rising consumer preference to packaged, semisolid foods and
beverages. Changing lifestyles of consumers, the increased
consumption of convenient foods and beverages among busy urban
populace, and the rising demand for environment-friendly products are
some of the key trends influencing the market significantly at
present.
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The
market caters to industries such as food and beverages,
pharmaceutical, and consumer goods. With starkly different
requirements in terms of features expected from the packaging
material across these industries, the market has witnessed
significant advancements in terms of materials, packaging
technologies, and packaging design. The use of a variety of plastics
has significantly increased in the past few years owing to their
flexibility, low-weight, and low cost of production and
transportation. However, the consumer is steadily shifting from
plastics due to their environmentally harmful nature to relatively
safer options such as paper and glass.
On
the basis of type of packaging, the global market for liquid
packaging has been examined in the report for varieties such as rigid
packaging and flexible packaging. Of these, the segment of flexible
packaging is the more preferred one, chiefly owing to the added level
of convenience offered by flexible packaging options in terms of
storage and transportation. Rigid packaging, apart from losing on the
convenience part, is also less preferred owing to the high costs it
entails.
On
the basis of plastic films used to manufacture liquid packaging
products, the report examines varieties such as linear low-density
polyethylene (LLDPE), biaxially oriented polypropylene film (BOPP),
polypropylene (PP), polyethylene terephthalate (PET), and
polyethylene (PE). Of these, PP and PET films are the most preferred
in the global market owing to their low weight and relatively low
costs of production and transportation. These segments are also
expected to retain dominance in the next few years. Based on the
technique of packaging, the global liquid packaging market has been
examined in the report for blow molding technology, aseptic liquid
packaging technology, and form-fill seal technology.
From
a geographical viewpoint, the global liquid packaging market has been
examined for regions such as North America, Asia Pacific, Latin
America, Middle East and Africa, and Europe. Of these, the market in
Asia Pacific is presently the leading contributor to the revenue of
the global market and is expected to retain dominance owing to the
thriving food and beverages and pharmaceutical industries. The market
in Europe is expected to witness growth at a moderate pace, wherein
the matured North America market is expected to lead towards
stagnancy, presenting scope for fewer new growth opportunities in the
near future.
The
market features a large number of companies operating in a highly
competitive environment. Rising awareness regarding the threats of
plastic waste to the environment are bringing about a dynamic change
in consumer perspective about packaging materials and is leading to a
steady shift from plastics to biodegradable products. As a result,
attempts at research and discovery of environmentally-neutral
alternatives are gaining pace. This could threaten the leadership of
companies primarily boasting plastic-products in their offerings
while companies with innovative and sustainable products are expected
to gain consumer backing.
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Some
of the leading companies operating in the global liquid packaging
market are The Dow Chemical Company, Nippon Paper Industries Co.,
Ltd, Comar LLC, Smurfit Kappa Group, Liqui-Box Corporation, Mondi
Plc, Sidel International AG, Tri-Wall Limited, International Paper
Company, Evergreen Packaging, Tetra Pak International S.A., Elopak
Group, and BillerudKorsnas AB.
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