During the forecast period 2016-2024, global liquid packaging carton market is projected to expand at a CAGR of 5.5%. Growing consumer preference toward packaged food and beverages will continue to drive market by 2024 end.
Coupled with increasing adoption of packaged foods and beverages among consumers worldwide, recyclability of uncoated paperboard materials is estimated to remain the key drivers to the market growth over the forecast period. Moreover, several governments across the globe are supporting beverage cartons, owing to their eco-friendly properties and lower carbon footprint. Facilitated storage, transportation, minimal wastage will play a key role in pushing usage of cartons among beverage manufacturers. Convenient use and extended shelf life of beverages are the key factors expected to continue fueling the adoption of beverage cartons by consumers.
Based on product type, liquid packaging carton market is expected to witness the highest growth in gable top containers segment, attributed to the growing consumption of milk and other dairy products. Demand for shaped cartons is also anticipated to increase. On the basis of opening type, twist opening segment will thrive significantly, owing to the rising need for the re-closable feature. The straw-hole segment will create the most lucrative market for beverage cartons over the forecast period. Global liquid packaging cartons market is projected to witness a CAGR of 5.5% during the forecast period 2016-2024. Asia Pacific will remain a prominent market, gaining 170 BPS and registering a CAGR of 6.4% by 2024 end.
According to the region, Europe will remain the dominant market over the forecast period, followed by Asia Pacific - majorly China and India. Europe will witness a decline of 220 BPS, whereas APAC is expected to grow by 170 BPS, at a healthy CAGR of 6.4% by 2024 end. Market growth in APAC is attributed to the growing consumption of carton milk and packaged beverages – 1.6x over the forecast period. Asia Pacific will continue to represent the leading manufacturer, exporter, and consumer. APAC’s annual growth is slated to remain impressive over 6% during the forecast period. Prominent importers of beverage cartons include Australia, ASEAN countries, and Europe – led by France.