(Entertainment-NewsWire.com, October 28, 2021 ) The liquid packaging market size is projected to reach USD 370.75 billion by 2021, registering a CAGR of 5.4% between 2016 and 2021. Growing demand for liquid packaging from the major end-use industries such as food & beverages, non-food, and industrial segment in emerging economies is driving the market.
New product development is the key strategy adopted by industry players to boost their growth in the liquid packaging market. This strategy accounted for a share of 30.0%, between 2011 and 2016, of all the growth strategies adopted by the market players. Rising demand for liquid packaging across various industries and new product developments by market players to expand their product portfolio is paving the way to fulfilling the ever changing demand from consumers. Besides new product developments, companies are investing in expanding their liquid packaging equipment manufacturing facilities in emerging regions across globe. Both merger & acquisitions and partnership/agreements/collaborations accounted for a share of 26.0% of all the developments witnessed between 2011 and 2016. Companies are also focusing on expansions since the last three years. This strategy accounted for 18.0% of all the strategic developments in the market.
North America was the most active region from 2011 to 2016, in terms of strategic initiatives. Companies such as The Dow Chemical Company (U.S.), International Paper (U.S.), Tetra Pak International S.A. (Switzerland), Smurfit Kappa (Ireland), Mondi Plc. (Austria), and Sidel (Switzerland) made several mergers & acquisitions and new product launches in the region to expand their production capacity and portfolio for liquid packaging.
Major manufacturers such as The Dow Chemical Company (U.S.), International Paper (U.S.), Tetra Pak International S.A. (Switzerland), Smurfit Kappa (Ireland), and Mondi Plc. (Austria), Sidel (Switzerland), BillerudKorsnäs (Stockholm), Evergreen Packaging (U.S.), Elopak (Norway) and Weyerhaeuser Company (U.S.) are profiled in this report. These companies have adopted both organic and inorganic growth strategies.
The Dow Chemical Company, International Paper, Tetra Pak International S.A., Smurfit Kappa, Sidel, and Mondi Plc. are the most active players in the global liquid packaging market.
Sidel is the most active player in the liquid packaging market. It accounted for the largest share of all the developmental activities undertaken in the liquid packaging market. As part of its strategy, the company focuses on expanding its liquid packaging business by investing in expansion activities and partnership/collaborations, specifically in emerging countries. The company invested to expand in India, Myanmar, Mexico, Argentina, Ethiopia, and others for liquid packaging market.
Another company that has established a strong foothold in the liquid packaging market is The Dow Chemical Company (U.S.). The company is focused on both organic and inorganic growth strategies. It also focuses on investing in R&D to develop innovative products and new technologies. In addition to this, the company collaborated with Takigawa Corporation (Japan), Darplus (Colombia), and Ampac (U.S.) to permit them to utilize its patented packaging technology called PacXpert.
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