LONDON — According to the latest market study released by Technavio, the global liquid packaging board market is expected to reach USD 14.26 billion by 2020, growing at a CAGR of more than 4%.
This research report titled ‘Global Liquid Packaging Board Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.
Types of liquid packaging boards
Brick liquid cartons are used for storing products such as milk and juices that have long shelf life. They are square or rectangular and are available in an array of sizes such as 200-250 milliliter portion packs, 1-liter standard family packs, and 1.5-liter and 2-liter large packs. They come either with or without a liquid carton closure.
Gable-top liquid cartons are used for storing fresh juices and liquid food products. They have a characteristic gable shape at the top of the packaging carton, which makes them look different from other liquid carton types.
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Technavio’s transportation and logistics analysts categorizes the global liquid packaging board market into three major segments by application. They are:
- Dairy products
- Juices
- Others
| Types of application | % Volume (2020) | |||||
| Dairy products | 74% | |||||
| Juices | 22% | |||||
| Others | 4% | |||||
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Source: Technavio |
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Global liquid packaging board market by dairy products
In terms of volume, the dairy products segment accounted for a market share of over 74% in the global liquid packaging board market in 2015. Milk and dairy products are the most consumed perishable products. Owing to short shelf life, continuous efforts have been made to increase their longevity. Dairy products are processed or packed in a suitable way so that they can be served fresh to the consumer. If served unsuitable it may attribute to a loss for the vendors. Apart from their short life, they should also be protected from other factors like handling during transportation and climatic changes.
According to Sharan Raj, a lead packaging research analyst from Technavio, “To handle dairy products and increase their shelf life continuous innovation is made in packaging technology. A proper and innovative packaging protects food from external factors such as light and moisture and also give protection from microorganisms. Liquid packaging board provide a strong barrier for dairy products and prevent it from any kind of contamination.”
One of the main problems of liquid packaging board cartons is that they generally do not have the provision for opening caps and customers have to consume the entire product at the same time. As a result, due to this opening and releasing problem, the liquid packaging board industry was losing out share to plastic containers packaging vendors. However, vendors in packaging board market such as Elopak and PKL have come up with opening and closing fitments in the packages to provide ease of usage to the consumers and also offer protection to the product packed.
Global liquid packaging board market by juices
The juices segment was the second largest segment in the market in 2015 with a market share of over 21%. The liquid packaging board market in North America is expected to witness moderate growth during the forecast period owing to the relatively mature nature of the market. In addition, industry volumes have stagnated over the years, and certain product categories have witnessed a contraction in terms of demand. The presence of many beverage companies is propelling the liquid packaging board market in North America. Vendors in the market are focusing on optimal asset utilization and operational excellence to generate revenue from the sales of packaged beverages in the market.
“The major demand in the market comes from the US, which is a very competitive market. California, Wisconsin, and Idaho generate most of the revenue for the food and beverages products packaging market in North America. Most of the major vendors in the beverages packaging market are from the US. The market in this region has witnessed a recent push toward sustainability and innovations,” says Sharan.
Global liquid packaging board market by others
The others segment was one of the fastest growing segments in the market in 2015 with a market share of approximately 4%. Other categories include liquid foods and household care liquid products such as cleansing liquids. These products are usually related to surface cleaning. The global surface care packaging market is expected to grow at a moderate rate during the forecast period.
Surface care plays a significant role in keeping the household clean, which leads to a healthier lifestyle for people. The surface care product manufacturers also focus on proper packaging. Usually, vendors prefer transparent packaging, which is possible in plastic packaging. However, due to several disadvantages of plastic packaging, vendors are opting for packaging boards, which apart from preventing the product from leakage; also provide visual appeal to the packaging.
The top vendors highlighted by Technavio’s research analysts in this report are:
- BillerudKorsnas
- Evergreen Packaging
- International Paper
- Mondi
- Smurfit Kappa
Browse Related Reports:
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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Source: Technavio
