Liquid Packaging Market Analysis by Segments, Size and Forecast 2025
The global liquid packaging market was valued around US$ 394 Bn in 2016. The market is anticipated to expand at a CAGR of above 4% between 2017 and 2025, according to a new report published by Transparency Market Research (TMR) titled “Liquid Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. Expansion of the global liquid packaging market is driven by the increase in consumption of beverage, along with an increase in focus on brand image through innovative packaging. The liquid packaging market in Asia Pacific is expanding at a CAGR of above 5% owing to the extensive usage of liquid packaging in manufacturing beverage bottles in the region, coupled with favorable government policies for manufacturers, and the shifting of the production facilities by major players due to the low labor and operating costs.
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Increase in Beverage Consumption to Drive Expansion of Liquid Packaging Market
The food & beverage industry has been a key driver of the packaging industry in the Asia Pacific. Expansion of the packaged food industry is anticipated to boost the demand for liquid packaging during the forecast period. Additionally, rise in consumption of aerated drinks is likely to drive the liquid packaging market in the near future. Increase in focus on health and fitness is estimated to propel the demand for bottled water in developed countries. This trend is likely to continue during the forecast period, making the expansion of end-use industries a key driver of the liquid packaging market. Increasing focus on health and hygiene is driving the consumption of bottled water in developing countries such as India, China, and countries in GCC. Increase in the demand for packaged drinking water is estimated to propel the global liquid packaging market.
Increase in Focus on Brand Image through Innovative Packaging
Brand managers are under pressure to develop new products with differentiation owing to an extremely competitive and fast-moving consumer market. Packaging design is a key driver for sales, as consumers have become brand conscious. Certain factors such as need for innovative packaging design in order to attract consumers and the need to differentiate products from others in a saturated product category have become important for a brand’s long-term success. Minimalistic packaging design that is elegant and simple and creation of appealing aesthetics by eliminating non-essential content are expected to be key trends in the next few years, For Instance, the alcoholic beverage company Jim Beam redesigned the packaging for its complete product range in 2016.
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The new packaging helped the company convey its values to customers and establish its brand image in the alcoholic beverages market. Additionally, the rise in demand for sparkling water is also anticipated to drive the liquid packaging market. In February 2018, Nestle redesigned the packaging of its six regional brands of sparkling water with a proprietary new bottle and cans.
Rigid packaging, Plastics, and Modified Atmosphere Packaging Segments to Dominate the Global Liquid Packaging Market
The liquid packaging market has been segmented based on packaging type, raw material, technique, and end-use industry. Based on packaging type, the liquid packaging market can be classified into flexible and rigid. The flexible packaging segment can be further sub-segmented into films, sachets, pouches, and others.
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