Fruit juice packaging: Key market research findings
- Innovations in packaging technology to drive market growth
- EMEA to dominate the market geographically
- Key vendors – Amcor, Ball, Crown Holdings, Smurfit Kappa, and Tetra Laval
Technavio’s market research analysts predict the global fruit juice packaging market to grow at a CAGR of more than 3% between 2016 and 2020. Innovation in packaging technology is the primary driving force behind the growth of this market. Vendors are increasingly adopting new technologies to innovate their product offerings to meet the growing demand highly competitive, cost-efficient, and visually appealing packaging solutions from packaged fruit juice companies. During 2015, EMEA dominated the global fruit juice packaging market by accounting for a market share of around 39%. In this region, the UK, France, and Germany are the prime revenue contributors.
The new market research report from Technavio presents a breakdown and analysis of the fruit juice packaging segments based on the packaging type.
“Recently, there has been a rise in the adoption of pouch packaging among packaged fruit juice manufacturers. These packaging solutions help to maintain safety and product freshness and are convenient to use owing to their compact and lightweight nature. Vendors in the market are also focusing on the development of non-toxic, biodegradable stand-up pouches to meet the increasing demand eco-friendly pouch packages,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
At present, the carton packaging segment accounts for almost 55% of overall market share and will be the major revenue contributor in the global fruit juice packaging market during the forecast period. Different layers of materials are used to impart unique properties to carton packaging. Plastic-coated carton board fabricated from three-layer technique provides a light barrier and firmness. For example, plastics like ethylene vinyl alcohol (EVOH) along with low-density polyethylene (LDPE) are used to block oxygen. LDPE plastic coating is also used as a moisture barrier. Furthermore, as carton packaging helps in minimize the overall shipping cost, its demand among the end users will increase significantly in the next few years.
The key vendors in the market include Amcor, Ball, Crown Holdings, Smurfit Kappa, and Tetra Laval. The global market for fruit juice packaging is highly competitive due to the presence of several well-diversified international and local suppliers. In this market, the prominent international players are increasing their global footprint, which in turn is posing a threat for the domestic suppliers. The competitive environment is projected to intensify with the expected increase in product extensions, innovations in technology, and M&A activities.
A more detailed analysis is available in the Technavio report, Global Fruit Juice Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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