Global liquid packaging market is projected to reach US$407.268 billion in 2022, increasing from US$321.057 billion in 2017 at a CAGR of 4.87% during the projected period. Hectic work life and changing lifestyle coupled with improving living standards and growing disposable income are some of the factors driving the liquid packaging market growth. Moreover, expanding pharmaceuticals sector with rapidly aging population further augments the liquid packaging market growth. Rising demand for packaged goods and an expansion of transportation industry in emerging economies is also significantly boosting the demand for liquid packaging solutions.
By End-User Industry
Food and beverage industry accounts for the largest market share in 2016. The rising demand for packed liquids like dairy products, water, and juices among others owing to changing lifestyle of consumers coupled with rapid urbanization is boosting the segment growth. Moreover, growing population with rising living standards and modernization of retail chains is significantly contributing to the demand of liquid packaging solutions for food and beverage industry segment.
Geographically, Asia Pacific is expected to grow at the highest CAGR over the projected period. Rapid urbanization and industrialization coupled with expanding pharmaceuticals and food and beverage industry are major factors driving the liquid packaging market growth in the region. Furthermore, factors like growing disposable income, changing retail trends, and large population base coupled with the need to attract consumers within limited shelf space is creating opportunities for vendors to enhance existing portfolio by offering a range of products for addressing diverse consumer requirements.
The global market for liquid packaging features a large number of players operating in a highly competitive market. The major players discussed in the report include Tetra Pak, The Dow Chemical Company, Elopak, Evergreen Packaging, Weyerhaeuser Company, International Paper, Smurfit Kappa, and Mondi PLC. The strict government regulations and mounting concern among people regarding the threat of plastic waste towards the environment are leading to consumers shifting to biodegradable packaging solutions. This is expected to hamper the growth of leading players who are primarily offering plastic packaging material for liquid packaging. New entrants offering environmental friendly packaging solutions further enhance the competition within the market.
Liquid packaging market has been segmented by type, type of material, type of opening End-User Industry, and geography.
By Type of material
By Type of Opening
By End-User Industry
Food & Beverage
Europe Middle East and Africa
Middle East and Africa