Global Liquid Packaging Market to Generate $566.3 Billion by 2031, Owing to the Rising Demand for Packaged Liquids from Various Industries

Liquid packaging refers to packaging of liquid food products, beverages, medicines, etc., so as to ensure their safe and tamper-proof transportation. Though, traditionally, plastic has been the primary material used for liquid packaging, in recent years, the demand for sustainable packaging materials has grown which has led many companies to opt for materials which are biodegradable in nature. Ease of convenience, portability, and sustainability are thus the main factors which liquid packaging industries consider while manufacturing liquid packaging materials.

Forecast Analysis of the Liquid Packaging Market

In recent years, there has been an increase in the demand for packaged liquids from various industries such as food and beverage, pharmaceuticals, personal care, household chemicals, etc. This growth in demand is predicted to be the primary growth driver of the global liquid packaging market in the forecast period. Additionally, growing demand for premium packaging is anticipated to push the market forward. Along with this, the changing needs and preferences of consumers, particularly in the areas of convenience, sustainability, and quality is projected to offer numerous growth and investment opportunities to the market in the analysis timeframe. However, the high cost of raw materials is estimated to create hurdles in the full-fledged growth of the liquid packaging market in the coming period.

Regionally, the liquid packaging market in the Asia-Pacific region is expected to be the most dominant by 2031. Growing demand for packaged liquid products such as beverages, food, and personal care items is expected to be the leading factor behind the growth of the market in this region.

According to the report published by Research Dive, the global liquid packaging market is expected to gather a revenue of $566.3 billion by 2031 and grow at 4.6% CAGR in the 2022–2031 timeframe. Some prominent market players include Amcor plc, Goglio S.p.A., Sealed Air, Berry Global, Inc, Mondi, Smurfit Kappa, Constantia Flexibles, ProAmpac, Tetra Laval Group, Gerresheimer AG, and many others.

Covid-19 Impact on the Liquid Packaging Market

The outbreak of the Covid-19 pandemic has had a massive negative effect on almost all industries and businesses across the world. The liquid packaging market, however, faced a moderate impact of the pandemic. Though there were massive supply chain disruptions which lowered the market growth rate during the pandemic, the overall demand for liquid packaging increased due to a rise in demand for sanitizers, liquid soaps, and cleaning products. This growth in demand for such liquid products helped the market to put up a stiff resistance in the pandemic period.

Significant Market Developments

The significant companies operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the liquid packaging market to flourish. For instance:

• In February 2022, Elopak ASA, a carton producing company, announced that it had signed a partnership agreement with Nippon Paper Industries. This partnership is aimed at developing strategies to strengthen the liquid paper packaging of both the companies and cater to the demands of the global market in a comprehensive way.
   
• In February 2023, Sealed Air (SEE), a packaging company based in the US, announced the acquisition of Liquibox, a liquid packaging firm. This acquisition is predicted to increase the market share of the acquiring company i.e., SEE substantially in the next few years.
   
• In February 2023, Oji Holdings Corporation, a global leader in paper and pulp industry, announced the acquisition of IPI Srl, a leading carton manufacturer. This acquisition is predicted to boost the market share of Oji Holdings Corporations and help the company to expand its business globally.