NEW DELHI, May 22, 2019 /PRNewswire/ -- According to a new report Global Liquid Packaging Cartons Market, published by KBV research, The Global Liquid Packaging Cartons Market size is expected to reach $19 billion by 2024, rising at a market growth of 6.1% CAGR during the forecast period. The carton is convenient to use and provides an optimally sustainable shelf life along with protecting the freshness, flavors and nutritional qualities of the product during transportation, on sale and in the home.
The Europe market would dominate the Global Liquid Packaging Cartons Long Shelf Life Market by Region by 2024, growing at a CAGR of 4.4 % during the forecast period. The North America market is expected to witness a CAGR of 4.9% during (2018 - 2024). Factors such as the rise in demand for packaged food & beverages, convenience in transport, innovation in packaging, and the recyclability of cartons are attributed to the liquid carton market growth. Furthermore, the food and beverage industry in Asia-Pacific has seen significant growth as a result of the rise in demand for healthy and packed water. Additionally, an increase in soft drink consumption is expected to increase the growth of the market for liquid carton packaging during the projected time period.
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The Brick Liquid Cartons market dominated the Global Liquid Packaging Cartons Market by Carton Type 2017. This is due to their cost-effectiveness in reducing the total cost of production by manufacturers who opt out of the low-cost brick carton packaging. This enables manufacturers to produce brick liquid carton at comparatively low cost, which is a key factor influencing its adoption rate. The Gable Top Cartons market is expected to witness a CAGR of 6.8% during (2018 - 2024). Additionally, The Shaped Liquid Cartons market is expected to witness highest CAGR of 7% during (2018 - 2024).
The Liquid Dairy Products market dominated the Global Liquid Packaging Cartons Market by End User 2017, growing at a CAGR of 5.4 % during the forecast period. The Non-carbonated Soft Drinks market is expected to witness a CAGR of 6.7% during (2018 - 2024). Additionally, The Liquid Foods market is expected to witness highest CAGR of 7.9% during (2018 - 2024).
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The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of BillerudKorsnäs AB, Nippon Paper Industries Co. Ltd, Smurfit Kappa, Reynolds Group Holdings Ltd (Packaging finance limited), Liqui-Box Corporation, Onex Corporation, Elopak AS (Ferd AS), Adam Pack SA (Diorama Investments SICAR), Tetra Laval International S.A., and Greatview Aseptic Packaging Co. Ltd.
In order to understand the competitive landscape, the KBV Cardinal Matrix has been provided with this report. It is a visual representation about the key players in the industry. The matrix is designed considering the major strategic developments including Mergers & Acquisitions, product launches, partnership among others and the financial strength of the company in the considered years. Based on the Analysis presented in the Cardinal matrix, BillerudKorsnäs AB and Elopak AS are some of the forerunners in the Liquid Packaging Cartons Market.
Global Liquid Packaging Cartons Market Segmentation
By Shelf Life
- Long Shelf Life
- Short Shelf Life
By Cartons Type
- Brick Liquid Cartons
- Gable Top Cartons
- Shaped Liquid Cartons
By End User
- Liquid Dairy Products
- Non-carbonated Soft Drinks
- Liquid Foods
- Alcoholic Drinks
- North America
o Rest of North America
o Rest of Europe
- Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
- BillerudKorsnäs AB
- Nippon Paper Industries Co. Ltd
- Smurfit Kappa
- Reynolds Group Holdings Ltd (Packaging finance limited)
- Liqui-Box Corporation
- Onex Corporation
- Elopak AS (Ferd AS)
- Adam Pack SA (Diorama Investments SICAR)
- Tetra Laval International S.A.
- Greatview Aseptic Packaging Co. Ltd.
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SOURCE KBV Research