LIQUID PACKAGING CARTON MARKET ANALYSIS

Liquid Packaging Carton MarketSize and Trends

Global Liquid Packaging Carton market was valued at US$ 9.2 Bn in 2022, and is expected to exhibit a CAGR of 6.48 %, in terms of revenue, over the forecast period (2023-2030) to reach US$ 15.2 Bn by 2030. Liquid packaging cartons are mainly used to package beverages and dairy products to ensure proper preservation, convenience, and others protection from damage. They are mostly made up of paperboard and aluminum and plastic products. These containers enable safe and easy transportation of liquid food products such as soft drinks and juices. Also, they prevent contamination and other damage to the liquid food product. These are highly in demand among manufacturers due to their various benefits such as maneuverability, recyclability, convenience, and eco-friendly nature. They are available in various shapes and sizes as per the application and also offer easy manufacturing as per the demand. For instance, In June 2020, ELOPAK AS introduced Pure-Pak Imagine, one of the most environmentally friendly cartons. It is a modernized version of the original Pure-Pak carton, with an easy-open feature.

Global Liquid Packaging Cartons Market - Impact of Coronavirus (COVID-19) Pandemic

Following COVID-19, the food and beverage industry experienced significant impact, negatively affecting the liquid packaging carton market. The unprecedented lockdowns across various countries during the initial phase of COVID-19 restrictions caused havoc among consumers. During the initial period of COVID-19 restrictions, this resulted in the stockpiling of packaged beverages such as juices and dairy products, increasing demand for liquid packaging cartons.

Later on in the lockdown, soda companies were impacted by aluminum shortages brought on by the closure of recycling facilities and flavoring shortages. When arenas and sporting venues closed, the demand for packaged food and beverages decreased, which in turn decreased the use of liquid packaging cartons in the food services industry. Although packaged beverage consumption at home rose, out-of-home consumption, which historically generates the highest margin, almost came to a stop. 

Global Liquid Packaging Carton Market: Growth Drivers

Demand for environmentally friendly packaging cartons

From both a customer and business perspective, switching to eco-friendly packaging has many obvious advantages. Additionally, a conscious consumer is someone who makes wise decisions about their purchases and believes in the ecological, social, environmental, and political influence of products. The market for liquid packaging cartons is also expanding due to consumer demand for environmentally friendly packaging materials. This is so because the packaging industry has the biggest environmental impact. Consequently, the need for environmentally friendly packaging solutions is fueling the market's expansion. The market's expansion is also influenced by the packaging material's ability to be reused. For instance, Elopak ASA and Nippon Paper Industries Co., Ltd. signed a thorough Memorandum of Understanding (MoU) in February 2022. The agreement examines how future businesses might be established and organized in conjunction given the networks, assets, and areas of expertise of the two organizations, and it covers further cooperation between them. The Elopak ASA Company offers packaging supplies for liquid food products, as well as renders additional services. Nippon Paper Industries Co Ltd (NPI) is a manufacturer of paper and related products.