Global Packaging Market for Liquid Products
Delivered April 7, 2020. Contributor: Agnidip M.
Goals
To find insights that help to have a comprehensive understanding of the packaging market globally for liquid products, both rigid and flexible packaging. The insights should be focused on market size numbers, trends, unmet needs, and major players in the global packaging market, with specific focus on packaging used for liquid products.
Early Findings
- According to market research estimates, the global liquid packaging market is expected to reach US$ 370.75 billion by 2021, witnessing a CAGR of 5.4% between 2016 and 2021.
- Rigid liquid packaging products, such as cartons, paperboard, glass, cans, and plastics & PET bottles, are considered to be the most widely used packaging type for liquid products.
- Among rigid liquid packaging products, plastics & PET bottles occupy the largest market share.
- The growth in demand for liquid packaging products worldwide is estimated to be driven by the high demand from the food & beverage industry in Asia-Pacific, South America, and Middle East & Africa.
- According to the latest market research estimates available, the global size of the rigid packaging market is expected to reach a value of US$ 755 billion by the end of 2024.
- As is estimated, the food and beverage industries are expected to hold the maximum share during the forecast period of 2019-2024 in the rigid packaging market.
- This dominance in market share is owing to the fact that most of the end users prefer rigid packaging over flexible packaging, as rigid packaging simplifies the storage and shipping of products, offers easy stacking and has a low tendency of deformation.
- According to another market research estimate, the global market size of flexible plastic packaging, overall, was worth US$ 97.97 billion in 2016, and is projected to reach US$ 131.65 billion by 2022, registering a CAGR of 5.2%.
- Some notable trends in the liquid paperboard packaging market are as follows: sustainable barrier coatings, smaller pack sizes, increased competition from glass packaging, recyclability and sustainability.
- Among the top fifteen global packaging companies, nine are U.S. based corporations.
- The top five companies in this list are: WestRock (revenue: US$ 14.8 billion), International Paper Company (revenue: US$ 14.49 billion), Reynolds Group Holdings Limited (revenue: US$ 10.5 billion), Ball Corporation (revenue: US$ 10.01 billion), and Smurfit Kappa (revenue: US$ 9.93 billion).
- The latest available numbers for top 15 global packaging companies, ranked by their revenue, can be found here.
In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
Research proposal:
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