Liquid Packaging Carton Market - Size, Share, Industry Trends, and Forecasts (2023 - 2031)

By Material Type :

The material type segment is categorized into uncoated paperboard, LDPE coated, aluminum, and others. In 2022, the uncoated paperboard segment accounted for the highest market share and is expected to grow at the fastest CAGR over the forecast period in the liquid packaging carton market. The uncoated paperboard cartons are widely popular and in trend due to the sustainable and recyclable attributes of the product. As per the analysis, the uncoated paperboard material is largely incorporated for packaging in the food and beverage industry. Furthermore, the product is ideal for custom packaging. The material is thick and sturdy and provides strength in packaging and thus is required for various applications. Also, increasing pollution levels globally have led to the need for eco-friendly and sustainable products, driving the requirement for uncoated paperboard cartons.

By Carton Type :

The carton type segment is categorized into brick liquid cartons, shaped liquid cartons, and gable top cartons. In 2022, the brick liquid cartons segment accounted for the highest market share and is expected to grow at the fastest CAGR over the forecast period in the liquid packaging carton market. The brick liquid cartons are known for being easy to handle and hassle free transportation. They are largely preferred by retailers for a reduction in logistical costs. Also, the rectangular shape of the cartons allows for optimal usage of storage space, efficient stacking, and others. Hence, owing to the advantages of the brick liquid cartons, the product is being utilized largely for the packaging of milk, juices, and other liquid meals. Due to other benefits of the product such as the increase in the product's shell life and protection against the outside environment, brick liquid cartons are widely utilized for liquid packaging purposes. Also, the cost-effectiveness of the product is acting as a catalyst for the expansion of the brick liquid cartons. Thus, due to the aforementioned factors, the brick liquid cartons segment is witnessing significant in liquid packaging carton market demand.

By Application :

The application segment is categorized into dairy products, non-carbonated soft drinks, alcoholic drinks, and others. In 2022, the dairy products segment accounted for the highest liquid packaging carton market share of 41.90%. Dairy products have wide utilization by consumers due to the health benefits of the product such as prevention of diabetes, enhancement of bone health, and others. The packaging cartons are ideal for preserving milk as they ensure a low risk of contamination and longer shell life. Also, the increasing dairy beverage industry is leading to the growing requirement for these cartons. For instance, according to the report by the Ministry of Fisheries, Animal Husbandry & Dairying, in 2022 milk production is growing at a rate of two percent in the whole world, whereas in India, its growth rate is more than six percent every year. Hence, the increasing dairy industry is leading to growing requirement for the cartons. Thus, due to the aforementioned factors, dairy products are witnessing significant growth in the liquid packaging carton market.

Moreover, the non-carbonated soft drinks segment is expected to grow at the fastest CAGR over the forecast period in the liquid packaging carton market. Increasing demand for nutritious beverages such as fruit juices, protein shakes, and others owing to growing health awareness and changing consumer behavior for healthy beverages are driving the segment growth. These packaging cartons are widely utilized in the packaging of non-carbonated soft drinks as they maintain the freshness of the liquid items and prevent any sort of contamination.

By Region :

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

In 2022, Asia Pacific accounted for the highest market share at 36.55%, valued at USD 7,350.21 million in 2022 and USD 7,688.44 million in 2023, it is expected to reach USD 11,484.76 million in 2031. In Asia Pacific, China accounted for the highest market share of 24.15% during the base year 2022. This is due to the leading beverage business in the region coupled with the high usage of packaged beverages such as soft drinks, dairy products, juices, and others in Asia Pacific. Also, favorable government initiatives for the reduction of carbon footprints and the development of sustainable packaging have been boosting the requirement in the region. For instance, according to a report by Invest India in 2022, different initiatives by the Indian Government such as Sanatan Bharat (Sustainable India), Swacch Bharat Mission (Clean India), Ayushmaan Bharat (Universal Health Coverage) and others have been showcasing execution of the broader sustainability agenda. Hence increasing awareness of sustainable goals and increasing government initiatives promoting a clean environment have been driving this market in the region.

Moreover, North America is expected to witness significant growth over the forecast period, growing at a CAGR of 5.6% during 2023-2031. Based on the liquid packaging carton market analysis, increasing requirements for ready-to-transport and convenient goods and growing healthy lifestyle preferences have been driving major demand for liquid packaging cartons in the region. Also, different technological advancements in the packaging sector by the key players of the market in the region have been acting as catalysts for the growth of the product in the region. Hence, due to the aforementioned factors, the liquid packaging carton market is growing significantly in North America.