Driven by a growing focus on sustainability, the liquid packaging board market is poised for steady growth. Consumers are demanding eco-friendly packaging, and regulations are promoting its use. To learn more about key challenges, opportunities, and a manufacturer analysis, explore Future Market Insights' exclusive liquid packaging board market report.
NEWARK, Del., March 12, 2024 /PRNewswire/ -- The liquid packaging board market is estimated to record a valuation of US$ 10.4 billion in 2024. The sales of liquid packaging boards are anticipated to expand at a moderate CAGR of 2.7% through 2034. The market is expected to cross US$ 13.5 billion by 2034.
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The liquid packaging board industry is primarily driven by the increasing global emphasis on sustainability and environmental conservation. As consumers become more conscious of their ecological footprint, there is a growing demand for packaging materials that are renewable, recyclable, and biodegradable. Additionally, regulatory initiatives to reduce plastic waste and promote sustainable packaging solutions further accelerate the adoption of liquid packaging boards in various industries.
Despite the growing demand for liquid packaging boards, the industry faces certain restraints that hinder its widespread adoption. One significant challenge is the higher cost associated with producing liquid packaging boards compared to traditional packaging materials. Limitations in barrier properties and moisture resistance may restrict the use of liquid packaging board in certain applications, particularly those requiring extended shelf life or exposure to harsh environmental conditions. Furthermore, market fragmentation and lack of standardized manufacturing processes pose challenges for scalability and cost efficiency in the liquid packaging board industry.
The liquid packaging board industry presents promising opportunities for growth and innovation, particularly with the rising consumer preference for sustainable packaging solutions. Furthermore, strategic partnerships with recyclers and waste management facilities can facilitate the development of closed-loop recycling systems, thereby addressing sustainability concerns and creating a competitive advantage in the market. Moreover, the increasing adoption of eCommerce and home delivery services offers new avenues for the application of liquid packaging board in packaging solutions tailored for online retail channels.
One of the notable trends in the liquid packaging board industry is the integration of advanced technologies to improve product performance and functionality. Manufacturers are investing in innovative coating technologies and barrier solutions to enhance the moisture resistance, printability, and shelf-life extension of liquid packaging boards. There is a growing emphasis on customization and personalization in packaging design, driven by the need to differentiate products and enhance brand visibility on retail shelves. Moreover, the adoption of digital printing techniques enables cost-effective short runs and on-demand printing, catering to the evolving needs of brand owners and consumers for flexible packaging solutions.
"Companies operating in this space can capitalize on the growing demand by investing in research and development to enhance the performance and versatility of liquid packaging board." Says Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights Inc.).
Key Takeaways from the Market Study
- The liquid packaging board industry in the United States is anticipated to rise at a CAGR of 1.6% through 2034.
- The liquid packaging board industry in the United Kingdom is projected to rise at a CAGR of 1.1% through 2034.
- China's liquid packaging board industry is likely to witness expansion at a CAGR of 4.5% through 2034.
- India's liquid packaging board market is anticipated to expand at a CAGR of 5.5% through 2034.
- Japan's industry is anticipated to rise at a CAGR of 1.9% through 2034.
Competitive Landscape
The industry may witness further consolidation through mergers and acquisitions. This allows companies to expand their geographic reach, product portfolios, and production capacity. Additionally, strategic partnerships between manufacturers, raw material suppliers, or recycling companies can create a competitive edge by optimizing resource management and cost efficiency.
Sustainability is a crucial driver of competition. Companies that prioritize eco-friendly practices, such as using recycled content, implementing sustainable forestry practices, and developing biodegradable board options, can attract environmentally conscious consumers and businesses. Moreover, continuous innovation in areas like barrier technology, printability, and functionality of liquid packaging boards can create differentiation and cater to evolving customer needs.
Cost competitiveness remains a significant factor, especially in price-sensitive markets. Manufacturers must optimize their production processes, strategically source materials, and explore alternative materials to maintain affordability. Additionally, regional players in emerging markets with lower production costs can challenge established players, particularly in their local markets.
Purchase now and gain full access to the Liquid Packaging Board Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
Recent Developments:
- BillerudKorsnäs presented a new paperboard barrier technology with enhanced oxygen and grease resistance, making it ideal for packaging a broader range of liquid products, including sensitive oils and dairy alternatives.
- Clearwater Paper has announced a strategic acquisition to enter the European market to expand its worldwide reach and market dominance in the liquid packaging board area.
- Elopak remains a key player in the aseptic packaging area, having recently introduced new, lightweight aseptic carton designs that improve sustainability while retaining product integrity.
About the Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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