Portland, OR, Oct. 14, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global liquid packaging market was pegged at $331.8 billion in 2019 and is expected to hit $463.2 billion by 2027, registering a CAGR of 4.5% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Rise in demand for fast-moving consumer goods (FMCG), increase in e-commerce activities and food delivery services, and surge in demand for lightweight as well as sustainable packaging fuel the growth of the global liquid packaging market. On the other hand, rise in concerns regarding recyclability and disposability of plastic packaging products and government regulations regarding plastic packaging products impede the growth to some extent. However, development of nano-food packaging and shifting focus toward renewable and innovative packaging solutions are expected to create lucrative opportunities for the key players in the industry.
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Covid-19 scenario-
- The outbreak of Covid-19 has escalated the trend of online grocery shopping and with this drift on board, there has been a significant rise in the demand for liquid packaging.
- Also, rapid use of hand washers and sanitizers has increased the need of liquid packaging.
The global liquid packaging market is analyzed across material, technology, packaging format, end user, and region. Based on material, the plastic segment accounted for more than one-third of the total market revenue in 2019 and is expected to retain its dominance by the end of 2027. The paperboard segment, on the other hand, would manifest the fastest CAGR of 5.6% throughout the forecast period.
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Based on packaging type, the rigid segment contributed to nearly two-thirds of the total market share in 2019 and is anticipated to rule the roost till 2027. At the same time, the flexible segment would portray the fastest CAGR of 5.8% during the study period.
Based on region, Asia-Pacific held the highest market share in 2019, garnering nearly two-fifths of the global liquid packaging market. Simultaneously, North America would cite the fastest CAGR of 5.4% from 2020 to 2027. The other provinces covered in the report include Europe and LAMEA.
The key market players analyzed in the global liquid packaging market report include Berry Global, Goglio S.p.A., Constantia Flexibles, Gerresheimer AG, MONDI Plc, Sonoco Products Company, ProAmpac, Tetra Laval, Amcor Limited, Reynolds Group Holdings Ltd., SIG Combibloc Group Ltd., Smurfit Kappa, and Sealed Air Corporation. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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