According to Allied Market Research, the North America Liquid Packaging Market is anticipated to register a significant CAGR from 2020 to 2027. According to the report, the global liquid packaging industry generated $331.8 billion in 2019, and is expected to generate $463.2 billion by 2027, witnessing a CAGR of 4.5% from 2020 to 2027.
The North America Liquid Packaging Market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
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Based on region, North America is projected to register the highest CAGR of 5.4% during the forecast period. This is due to surge in food & beverage consumption and increase in adoption of flexible packaging. However, Asia-Pacific contributed to the largest market share in 2019, accounting for nearly two-fifths of the total share of the global liquid packaging market, and will maintain its dominant share by 2027. This is attributed to presence of leading food & beverage market players and the pharmaceutical industry.
The NA liquid packaging market is segmented on the basis of resin type, packaging type, technology, and end user. Based on the resin type, the NA liquid packaging market is segmented into polyethylene, polypropylene, polyethylene terephthalate (PET), and others. Based on the packaging type, the NA liquid packaging market is divided into flexible and rigid packaging. The report also provides information about the packaging formats such as bag-in-box and stand-up pouches.
- Aseptic Liquid Packaging
- Blow Molding
- Form Fill Seal
Based on technology, the North America Liquid Packaging Market is segmented into aseptic liquid packaging, blow molding, and form fill seal technology. The end users of liquid packaging include food & beverages, personal care, pharmaceuticals, household care, industrial, and others. More than 61% of the North America liquid packaging market share by end user was held by the food & beverage segment in 2019. Country wise, the report covers the U.S., Canada, and Mexico.
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Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include Celanese Corporation. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the North America Liquid Packaging Market.
Based on material type, the plastic segment accounted for the highest market share in 2019, contributing to more than one-third of the global liquid packaging market, and is expected to maintain its lead position during the forecast period. This is attributed to its utilization in almost all end-user industries in bottles and cans. However, the paperboard segment is estimated to witness the highest CAGR of 5.6% from 2020 to 2027.
Market players grabbing the largest pie
- Amcor Limited
- Berry Global
- Constantia Flexibles
- Gerresheimer AG
- Goglio S.p.A.
- MONDI Plc
- Reynolds Group Holdings Ltd.
- Sealed Air Corporation
- SIG Combibloc Group Ltd.
- Smurfit Kappa
- Sonoco Products Company
- Tetra Laval
- The demand for liquid packaging has been decreased from hotels, restaurants, and supermarkets as footfall reduced drastically due to lockdown.
- Moreover, the number of tourists reduced due to ban on local and international travel. This also impacted demand.
- As the demand for hand sanitizers, liquid soaps, and disinfectants increased during the pandemic, the demand for plastic containers and bottles for storage increased, which in turn, raised the demand for liquid packaging.
- Manufacturing activities and supply chain have been impacted due to lockdown imposed by governments. So, it created a supply-demand gap in some regions.
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