Published Date : 17 May 2022
The liquid packaging market size is forecasted to earn USD 829 Bn By 2032 from USD 483.60 Bn in 2022 and is anticipated to grow at a CAGR of 5.6%.
The liquid packaging market is being driven by the growth in the number of individuals relocating from rural to urban locations, coupled with the changes in the consumer behavior. The liquid packaging is commonly used in the food and beverage sector to make liquid commodities to transport and extend product shelf life.
The increased disposable income has influenced consumption patterns, resulting in increased demand for packaged beverage and drinks. The online sales channel also serve consumer goods that are packaged in liquid form. The cosmetics, household products, and personal care products are all included in the liquid packaging. In addition, the online stores owners require specialized packaging solutions with short lead times.
Furthermore, the liquid packaging market is expected to be propelled by shift in consumer behavior, as well as an increased focus on brand image through packaging. In addition, the high investments on research and development are also driving the growth of the liquid packaging market during the forecast period.
Scope of the Report
|Market Size in 2022||USD 483.60 Billion|
|Revenue Forecast by 2032||USD 829.96 Billion|
|CAGR From 2023 to 2032||5.6%|
|Forecast Year||2023 to 2032|
|Largest Market||Asia Pacific|
|Fastest Growing Region||North America|
|Segmentation||Packaging Type, Raw Material, Technique, End-use, Region|
North America is the largest segment for liquid packaging market in terms of region. The U.S., which is a major market for liquid packaging, is likely to increase demand for liquid packaging in the North America due to expanding use of paper products.
Asia-Pacificregion is the fastest growing region in the liquid packaging market. This is attributed to the favorable government regulations, growth of the food and beverage and pharmaceutical industries, and key market players relocating manufacturing facilities to operating and labor costs.
Increasing environmental concerns
The consumers are looking for eco-friendly packaging solutions, which is projected to drive demand for liquid packaging cartons and paper bottles. Additionally, these products recyclability reduces wastage and long-term production expenses. The government of developed regions had enacted stringent rules and regulations against the use of plastic. There is ban on the use of plastic in many countries. Thus, the key market players have started avoiding plastic in the process of liquid packaging. As a result, the increasing environmental concerns is boosting the growth of liquid packaging market during the forecast period.
Rising environmental concerns regarding single use packaging products
The manufacturers are under pressure from the government to submit all the records on the health impacts of liquid packaging. Also, the strict regulations all around the world addressing over the counter single use packaging products, will hinder the growth of the liquid packaging market. The glass and plastic packaging are commonly used for liquid drinks and beverages. The consumers who are becoming more ecologically conscious are concerned about the low recycling rate of single use products. Thus, this will have an impact on the liquid packaging market, impeding the growth during the forecast period.
Growth in online sales channel
The major factor driving the growth of the liquid packaging market is the online retail platform. The availability of diverse product options and price comparison on online shopping sites has resulted in an increase in the number of online shoppers. This is advantageous to retailers because it eliminates the need for physical outlets or stores. One of the primary reasons why consumers prefer online shopping is the ability to read reviews provided by other users and compare various stores, products, and prices offered by various sellers. Furthermore, access to the internet and online food and beverage supplies have provided consumers with a platform where they can easily compare various products and prices and shop with ease. Thus, growth in online sales channel is creating growth opportunities for the liquid packaging during the forecast period.
Increase in carbon footprints
The use of resins has increased the utilization of carbon footprints. A carbon footprint is total amount of greenhouse gases. Thus, the increased use of carbon footprint is biggest challenge for the growth of liquid packaging market.
Market Key Players:
By Packaging Type
By Raw Material
By Regional Outlook
Buy this premium research report - https://www.precedenceresearch.com/checkout/1142
Any questions regarding this study, please feel free to contact at firstname.lastname@example.org