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.
PORTLAND, OREGON, UNITED STATES, September 24, 2021 /EINPresswire.com/ — A lead analyst at AMR highlighted the liquid packaging market in Asia-Pacific is anticipated to cite the fastest CAGR during the forecast period. This is attributed to presence of leading food & beverage market players and the pharmaceutical industry.
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.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
Source: EIN Presswire