The US liquid packaging cartons market is estimated to grow at a moderate CAGR of 4.3% during the forecast period. Rising demand for highly sustainable packaging is attributing to the positive growth of the market. The US consumers are highly aware of sustainable packaging, which, in turn, has encouraged beverage companies to use 100% recycled products. As per the US Environmental Protection Agency (EPA), in 2017, paper and paperboard (cardboard) materials were the major components of municipal solid waste (MSW). In MSW, the total generation of paper and paperboard was 67 million tons in 2017, which was 25% of total MSW generation that year. In 2017, nearly 44.2 million tons of paper and paperboard were recycled, for a recycling rate of 65.9%. This rate was higher among the highest than other materials in MSW. This shows the increasing popularity of paperboard packaging products in the country.
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Major beverage companies in the US that are using carton packaging for their beverages include Coca Cola Co., Kraft Heinz Co., PepsiCo, and Cargill, Inc. These companies are implementing 100% sustainable packaging plans to reduce greenhouse gas emissions. For instance, in February 2019, Kraft Heinz Co. declared that it has surpassed the target reduction of its global packaging weight by 50,000 metric tonnes. The company declared plans to make 100% of its packaging “globally reusable, recyclable, or compostable” by 2025. This initiative is expected to offer an opportunity for cartons packaging for application in company’s liquid foods and beverage products.
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Scope of the US Liquid Packaging Cartons Market
• Market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Carton Type and Application
• Competitive Landscape- WestRock Group, International Paper Co., Tetra Laval International S.A., Georgia Pacific, LLC, and Graphic Packaging International, LLC
Recent Developments in the US Liquid Packaging Cartons Market
• In February 2020, Graphic Packaging International, LLC., entered into a definitive agreement to acquire the Grief, Inc.’s Consumer Packaging Group business, for nearly $85 million. This acquisition will further diversify the company’s end-markets and expands its service capabilities to emerging mid-sized foodservice and consumer goods customers.
• In June 2019, LBP Manufacturing LLC (LBP) declared that it acquired Union Packaging, a manufacturer of chicken nugget boxes, fry cartons, and other paper-based packaging products to national quick-service restaurants (QSRs). LBP is a producer of innovative and sustainable food and beverage packaging. This acquisition will further increase product offerings of LBP to offer customers a complete range of corrugated packaging and folding carton solutions.
Key questions addressed by the report
• What is the market growth rate?
• Which segment dominates the market in base year?
• Which segment will project fastest growth in the market?
• How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region/segment
• Who is the leader in the market?
• What are the key strategies adopted by the market players?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
• What are the trends in sustainable packaging?
US Liquid Packaging Cartons Market-Segmentation
• Personal Care and Cosmetics
• Household Goods
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