The global liquid packaging market size was US$ 341.1 billion in 2021. The global liquid packaging market is forecast to grow to US$ 468.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2022 to 2030.
Liquid packaging is suitable for packaging liquid content and increasing its shelf life. Packaging plays an essential role in shipping liquid products without the concerns of pollution, physical damage, and sunlight, thereby making transportation and storage easier. Paperboard, glass, cans, cartons, PET bottles, and plastics are widely used to pack liquid products, such as carbonated drinks, water, alcohol, dairy products, beverages, etc.
Factors Influencing the Market
The global liquid packaging market is forecast to grow at a substantial growth rate due to the surging demand for food & beverages globally. In addition, the rapidly growing e-commerce sector will contribute to the growth of the global liquid packaging market.
The extensive applications of liquid packaging materials in the personal care, food & beverage, and pharmaceutical industries will also drive the global liquid packaging market forward. Furthermore, the growing population and increasing employment rate will also benefit the global liquid packaging industry.
Stringent government policies aiming at promoting the use of disposal and recycled plastics may limit the growth of the global liquid packaging market. On the contrary, growing initiatives towards sustainability will be opportunistic for the companies to develop solutions.
COVID-19 Impact Analysis
The stringent lockdown measures imposed by the governments hampered the tourism industry. As a result, it negatively affected manufacturing activities. However, the demand for frozen food products and packed food and beverages increased abruptly, which upsurged the demand for effective liquid packaging. The COVID-19 epidemic triggered the demand for liquid detergents, sanitizers, and hand washes. As a result, it had a positive impact on the global liquid packaging market.
Regional Analysis
North America is forecast to dominate the liquid packaging market, owing to the presence of established fast-food culture in the region. In addition, the growing demand for over-the-counter (OTC) medications will contribute to the growth of the market. The region is witnessing rising demand for sports drinks and non-alcoholic energy drinks, which is expected to escalate the growth of the market. Furthermore, the presence of prominent brands, such as PepsiCo, Nestle, Unilever Group, L'Oréal, and Procter & Gamble Co. will be a significant contributor to the growth of the global liquid packaging market.
Competitors in the Market
Market Segmentation
The global liquid packaging market segmentation focuses on Materials, Packaging Format, Technology, End-Users, and Region.
By Materials Outlook
By Packaging Format Outlook
By Technology Outlook
By End-Users Outlook
By Regional Outlook
