Juice Packaging Market Size, COVID-19 Impact Analysis, Business Opportunities, Worldwide Trend & Demand
Juice Packaging Market: Introduction
Packaging is a well-grounded technology used to secure the products, particularly consumables, like food and liquids from getting defaced and defiled. The packaging of liquid demands great seal durability, the strength of packaging materials, resistivity to cracking, prevention of spillage and degradation and delivering the products in complex transportation. Juice packaging is intended to provide support, protection from external environmental elements and tamper resistance. Juice packaging is the most competitive segment in the global beverage packing industry. As a result of the emerging consumption of vegetable and fruit juice, the worldwide market for juice packaging is probably going to witness strong growth in future.
Juice Packaging: Market Dynamics
The rising consumption of packaged food and beverages all over the world is contributing to the demand for juice packaging market. Increase in disposable income of the households and the growing number of nuclear families in the developing countries is fuelling the growth in the juice packaging market. Packaging intended for single use is a key driving force for the juice packaging market. The fluctuating cost of raw materials is rather an inhibiting factor for the juice packaging market. Moreover, the government norms associated with the use of plastics in packaging also restrains the growth of the market. The increment in the carbon footprint due to the production of packaging material using different types of resins suppresses the growth of the juice packaging market. Manufacturers still rely majorly on plastics as the source of raw material. Variable logistics cost involved in the transportation of raw materials and the final product acts as an inhibitor to the juice packaging market. The key trend prevailing in this market is the increased application of sustainable packaging. The upsurge in the juice packaging using biomaterials and environment friendly products is likely to create an opportunity for this market. Likewise, innovations concerning next generation packaging along with increased preference for pure juices other than preservative juices is assumed to fuel the demand for the juice packaging market.
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Juice Packaging: Market Segmentation
The market can be segmented on the basis of packaging type, technology type, opening type and geography. On the basis of packaging type, the juice packaging market can be segmented into flexible and rigid juice packaging. Flexible juice packaging can be further segmented into stand up pouch and Bag-In-Box (BIB) packaging. Rigid juice packaging can be sectioned into cartons, cans and bottles. Comparatively, flexible packaging has garnered more dominance over rigid packaging amongst consumers. On the basis of technology, the juice packaging industry can be segmented into the aseptic filling process, hot filling process and blow-fill-seal process. On the basis of opening type, the juice packaging market can be segmented into lid type, straw hole opening and clip opening. On the basis of geography, the market can be segmented into Middle-East and Africa (MEA), North America, Asia Pacific (APAC), Europe and Latin America.
Juice Packaging: Regional Outlook
Geographically, North America is the largest market for the juice packaging industry owing to its large consumption of FMCG products. The European market will continue to grow at a steady rate, the Asia Pacific market despite having nearly 45% share in the global packaging industry has not shown substantial growth rate, but the juice packaging market is likely to prosper over the forecast period due to the changing lifestyle pattern and increased awareness among consumers. The rising disposable income of individuals in India and China will further fuel the growth of the juice packaging market in the Asia Pacific region.
Juice Packaging: Key players
Key players in the juice packaging market include Amcor Limited (U.S.), Ball Corporation (U.S.), Bemis Company Inc. (U.S.), Smurfit Kappa Group (Ireland), Tetra Laval International S.A. (Switzerland), DS Smith Plc. (U.K.), Evergreen Packaging Inc. (U.S.), International Paper Company (U.S.) and MeadWestvaco Corporation (U.S.).
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