Brick Carton Packaging Market Revenues to Reach US$ 11 Bn by 2028, Equaling 4,000,000 Tonnes in Global Demand
Published : 15 Oct 2018 Industry: Consumer Goods
The brick carton packaging market continues to be a fragmented landscape, with Tier III companies accounting for over 60% revenue share of the global revenues. Fact.MR’s new study on the brick carton packaging market opines global demand to surpass 4,000,000 tonnes by 2028-end, equaling nearly US$ 11 Bn in revenues.
The brick carton packaging report covers all the trending innovations introduced in the brick carton packaging market that are marking the future progress of the packaging landscape. Fact.MR research shows that beverage segment in the brick carton packaging market is estimated to dominate the global demand and account for over 55% of the total sales volume by the end of the assessment period. Owing to the growing demand for beverages, in particular, dairy beverages, the report projects 1.5x growth of the beverage segment in the brick carton packaging market through 2028. Food segment is expected to follow suit while accounting for over 35% of the total sales volume by 2028 end.
Growing demand for longer shelf life and safety among consumers has encouraged packaging manufacturers to introduce packaging solutions with a range of materials, thickness and packaging structure. The report shows that the paperboard segment in the material type is expected to dominate the global sales volume with 3,000,000 tonnes and account for over 70% of the total brick carton sales through 2028.
While manufacturers thrive to deliver the premium packaging solutions, packaging thickness remains one of the crucial aspects of packaging, which is prominently influenced by the rate of adoption among consumers. As consumers seek less rigid and more flexible packaging, the report has identified that 240-260 μm thickness type segment is the most attractive segment presenting rapid expansion at a CAGR of 4.4% during the forecast period.
Packaging structure is another factor identified in the report, which is prominently influenced by the preferences of customer and end consumers. Growing popularity of six layered packaging solutions across multiple industries has been identified to propel the sales volume of 5-7 layers over 2,000,000 tonnes by capturing almost 50% of total market share through 2028. In addition, less than 5 layers segment is projected to report a 1.5x rapid expansion during the assessment period.
Evolving consumer lifestyle and increasing demand for single portions have been identified for the leading demand for less than 250 ml capacity segment capturing over two-fifths of the total sales volume by 2028 end. The 250-500 ml capacity is expected to follow the 250 ml segment while accounting for almost 25% of the total volume sales by 2028.
The demand for brick carton packaging solution is projected to remain concentrated in the emerging economies of the APEJ region which is estimated to register a 5.2% of CAGR in terms of volume by 2028. Owing to the improving economic scenario and rising demand for innovative food and beverage packaging solutions, sales volume of brick carton packaging are expected to surpass 1,700,000 tonnes with Greater China and India being the most attractive market capturing almost 60% of the total APEJ’s sales volume by the end of 2028.
The increasing popularity of flexible packaging and preference for single-serve pouches is likely to confine the adoption of rigid or semi-rigid packaging such as brick carton packaging in the coming years. However, stakeholders in the brick carton packaging market are engaged in adopting advanced packaging equipment and printing technology and introducing novel packaging solutions. Amcor has recently introduced the Sunshine print effect in its folding cartons to deliver a premium brand look. The unique print technology are used is cost effective and delivers design flexibility. SIG has recently initiated a partnership with Zapper, one of the world’s leading developers and providers of augmented reality (AR) to increase interaction and engagement with brand’s carton packs. Elopak has recently launched Arla Food’s Natural Brown Board cartons with effective printing and sustainable packaging.