-2 Market Trends

Growth Drivers

• Rising Production of Milk to Boost the Market Growth - As of 2018, approximately 800 million tonnes of milk were produced across the globe which was an increase from 500 million tonnes in 1988. Milk is consumed every day in almost every house holding and in urban areas, milk is distributed in packets and cartons. As of 2021, the consumption of milk in India was estimated to be around 80,000, in the United Kingdom (6000), and in Australia (2000) thousand metric tons. Hence, such a higher consumption of milk is estimated to hike the market growth over the forecast period.

• Increasing Consumption Ready-to-Drink Beverages - In 2020, approximately 40 million proof gallons of vodka were imported to the United States.

• Growing Disposable Income Across the Globe - Based on the statistics provided by the World Bank, it was stated that in 2020, adjusted net national income reached USD 8,784 per capita.

• Increasing Demand for Liquid Packaging Cartons in Food Packaging - According to the United States Environmental Protection Agency (EPA), it was shown that 14.5 million tons of plastic containers and packaging were produced in 2018.

Challenges

• Decline in the Utilization of Packaging Cartons due to Global Warming
• Disrupted Supply Chain due to COVID-19
• Requirement of High Initial Investment

The global liquid packaging cartons market is segmented and analyzed for demand and supply by end-user into dairy products, liquid food, alcoholic beverages, non-carbonated soft drinks, and others, out of which, the non-carbonated soft drinks segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the higher utilization in the soft drinks industry. For instance, in 2022, the revenue generated by the soft drink segment was estimated to be around USD 3 billion.