According to a report by market research firm, MarketsandMarkets, Asia-Pacific is the global forerunner in the liquid packaging market, in terms of value, and is expected to continue till 2021.
The liquid packaging market is also expected to be worth USD$370.75 Billion by 2021, registering a CAGR of 5.4% between 2016 and 2021.
Countries in this region such as China, India, Japan, South Korea, Malaysia, Thailand, and Indonesia are witnessing significant increase in the use of liquid packaging in food & beverage industry. China is estimated to be the fastest-growing market till 2021.
This growth is mainly due to the rapid economic growth and increasing population that is driving the demand for liquid packaging type for various end-use industries in Asia-Pacific. There is also an increasing global demand for liquid packaging in Asia-Pacific, South America, and Middle East & Africa.
The liquid packaging market has a few numbers of global players competing for market share. These companies are actively investing in various strategies such as new product developments, merger & acquisitions, and expansion projects globally to increase their market share.
Major players such as The Dow Chemical Company (U.S.), International Paper (U.S.), Tetra Pak International S.A. (Switzerland), Smurfit Kappa (Ireland), and Mondi Plc. (Austria), and others have adopted various organic and inorganic developmental strategies.
Rigid liquid packaging: The most-widely used packaging type for liquid products
Rigid liquid packaging is the most-widely used packaging type for liquid products. Rigid liquid packaging includes cartons, paperboard, glass, cans, and plastics & PET bottles.
Plastics & PET bottles is the largest segment of the rigid liquid packaging type. They are widely used for packaging of liquid products such as water, carbonated drinks, alcohol, beverages, dairy products, and others. It is resistant to impact, moisture, recyclable, and chemicals.
Food & Beverage: The largest end-use industry for liquid packaging
Food & beverage is the largest end-use industry for the liquid packaging market globally. The food & beverage industry uses various liquid packaging types such as bag-in-box, stand-up pouch, plastics & PET bottles, cans, glass, films, paperboard, and cartons.
They are used for packaging of various liquid products such as water, juices, dairy products, beverages, wine & spirits, detergents and household cleaning items, among others.
In addition, the need to maintain shelf life of the products and protect them from contamination further drives the growth of this application in the liquid packaging market.