New York, NY, August 13, 2016 --(PR.com
)-- According to the latest market report published by Persistence Market Research titled “Worldwide Liquid Packaging Cartons Market to expand at a CAGR of 5.5% from 2016-2024, According to PMR Report” globally, the revenue generated from sales of liquid packaging carton market has been estimated to be valued over US$ 12.0 Bn by 2016 end, and is projected to increase at a CAGR of 5.5% during 2016-2024.
Liquid Packaging Cartons are primarily made up of uncoated paperboard with a barrier coating. There are two types of barrier coating i.e. LDPE Coated - used to ensure a barrier against moisture as well as other external and aluminum, which is used for UV light, odor and gas barrier. These liquid packaging cartons are used for storage and safe transportation of liquid products, moreover, these cartons are available in different size, shapes, and designs according to the need of a liquid product manufacturer. One of the primary drivers for the growth of liquid packaging carton is the eco-friendly and recyclable properties of liquid packaging carton, furthermore, the rising demand for packaged foods & beverages is also expected to increase the consumption of liquid packaging carton.
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Gable top cartons are expected to be the growing product type segment due to the wide consumption of dairy products, particularly milk. Adding to the product type segment, demand for shaped cartons is anticipated to increase due to the differentiating factor that the carton possesses. Moreover, the need for a re-closable feature has driven the demand for twist opening segment in liquid packaging cartons market, whereas the straw hole opening segment in the liquid packaging carton is expected to be the attractive market due to its availability in small size packs. The demand for aluminium in the liquid packaging carton is also anticipated to increase due to the increasing consumption of processed milk. According to the application type, wine & spirits are expected to witness the highest CAGR during the forecast period of 2016-2024.
Europe is likely to dominate the liquid packaging carton market, but demand is anticipated to shrink, which is forecast to lose 220 BPS over next five to six year against Asia Pacific. Asian markets are well positioned to gain the advantage of manufacturing epicentre of the globe, where demand for liquid packaging cartons is forecast to expand by 170 BPS by 2024 end. Annual growth in Asia Pacific market is also slated to remain impressive over 6% during the forecast period, translating into 1.6X growth between 2016 and 2024.
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Global leaders in liquid packaging carton include Elopak Inc., Evergreen Packaging Inc., IPI s.r.l., Refresco Gerber N.V., SIG Combibloc GmbH, Tetra Pak Inc., Weyerhaeuser Company, NIPPON PAPER INDUSTRIES CO., LTD, TidePak Aseptic Packaging Material Co., Ltd and Adam Pack s.a.