The global liquid packaging market size was valued at USD 455 billion in 2022 and is predicted to hit around USD 723.66 billion by 2032 with a remarkable CAGR of 4.8% from 2023 to 2032.
Key Takeaway
- Asia-Pacific region contributed 44% revenue share in 2022.
- North America market is expected to grow at a CAGR of 5.7% from 2023 to 2032.
- By materials, the plastics segment accounted largest revenue share of around 41% in 2022.
- By technology, the aseptic liquid packaging segment accounted for 76% revenue share in 2022.
- By packaging type, the rigid segment has garnered 85.5% market share in 2022.
Packaging technology is used to protect the product from getting contaminated and damaged especially consumables such as food & liquid products. Liquid packaging demands the toughness of packaging materials, high seal integrity, and resistive to cracking, for avoiding the degradation and leakage of the products while delivery in complex transportation.
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Growth Factors
Increasing technological advancements in packaging standards for the delivery of wide range of products in order to maintain the quality and freshness of the packed products is the major factor that augments the growth of liquid packaging market. Further, rising utilization of packaging products for marketing purpose is the prime factor that is responsible for the increasing demand of the liquid packaging products. Changing lifestyle habits along with rising health consciousness among consumers likely to drive the demand for FMCG products that includes juices and fitness drinks or functional drinks that in turn impacts the demand for liquid packaging positively over the coming years.
Besides this, increasing concern for environment safety expected to hamper the growth of liquid packaging in the coming years owing to increasing penetration of non-renewable plastics over other materials. Nonetheless, some of the packaging materials used for liquid packaging such as paper and glass are biodegradable, renewable, and environment-friendly that attracts large number of manufacturers to meet the stringent government regulations for environmental safety.
Report Scope of the Liquid Packaging Market
| Report Highlights | Details |
| Market Size in 2023 | USD 474.57 Billion |
| Market Size by 2032 | USD 723.66 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 4.8% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Packaging Type, Raw Material, Technique, End-use |
| Regional Scope | North America, APAC, Europe, Latin America, MEAN, Rest of the World |
Report Highlights
- The Asia Pacific exhibits the highest demand for liquid packaging and accounted for around 40% value share in 2019 due to favorable government policies along with expansion in pharmaceutical and food & beverage sectors
- North America expected to grow at a moderate rate over the forecast period owing to rising implementation of paper-based products over other harmful materials
- In terms of packaging type, rigid packaging emerged as a dominant segment because of its extensive use for packaging solutions in pharmaceutical drugs and beverages industry
- Prominent growth of flexible packaging over the upcoming years is mainly due to its light weight, low transportation cost, and flexibility in the size & shape of the package
- Based on raw material, plastics led the global liquid packaging market and accounted for more than half of the value share in the year 2019 owing to its excellent properties
- Paper segment likely to exhibit significant growth over the coming years owing to its excellent properties that include better environmental protection and high recyclability
Regional Snapshots
The Asia Pacific expected to be the most opportunistic market during the forthcoming years owing to increasing trend for packaged foods along with rising demand for functional drinks. Rising awareness among consumers related to health problems and measure to prevent them plays an important role in trigger the demand for packaged foods and drinks. Thus, the aforementioned factor expected to boost the growth of liquid packaging over the forecast period. In addition, prominent rise in the pharmaceutical and food & beverage industries also expected to propel the growth of the liquid packaging. Packaging of liquid drugs & medicines are a critical aspect and expected to trigger the demand for advanced packaging solutions so that the product can remain safer for longer time duration.
On the other hand, Europe held more than 20% of value share in global liquid packaging market in the year 2019. The significant growth of the region is mainly driven by the large production of wine & spirits and cosmetic products that in turn require suitable packaging solution to ensure the safe storage and transportation of the product. Hence, significant demand for wide range of packaging solutions from these end-use industries estimated to impel the market in the region during the analysis period.
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Key Players & Strategies
The global liquid packaging industry is extremely competitive and a fast moving consumer market owing to prominent focus of brand managers towards developing new and advanced products to create product differentiation. This approach from the companies will help them to maintain their competitive edge on the global scale. Furthermore, these market players are significantly focusing on collaboration, partnership, and in-licensing agreements in order to launch new and advanced products in the emerging regions such as Latin America and Asia Pacific.
For instance, in February 2020, Liquibox signed an agreement to acquire the plastic division of DS Smith plc to strengthen its dispensers and flexible packaging business. With this acquisition, the company has also expanded the range of films,bag, and dispensing fitments to its global customers.
Some of the prominent players
- Comar LLC
- Tetra Laval International S.A.
- Liqui-Box Corporation
- Evergreen Packaging Inc.
- International Paper Company
- BillerudKorsnäs AB
- Nippon Paper Industries Co., Ltd.
- Klabin Paper
- The DOW Chemical Company
- Smurfit Kappa Group
- Mondi PLC.
Segments Covered in the Report
By Packaging Type
- Flexible
- Sachets
- Films
- Pouches
- Rigid
- Bottles
- Paperboard
- Drums
- Cans
- Containers
By Raw Material
- Paper
- Plastics
- PP
- PET
- PE
- Glass
- Metal
By Technique
- Modified Atmosphere Packaging
- Aseptic Packaging
- Intelligent Packaging
- Vacuum Packaging
By End-use
- Personal Care
- Food & Beverage
- Chemicals
- Pharmaceuticals
- Petrochemicals
- Household Care
By Regional Outlook
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
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