CHICAGO, Sept. 11, 2019 /PRNewswire/ -- According to the
new market research report "Pouches Market by
Type (Stand-Up, Flat, Rollstock), Material (Plastic Films, Aluminum
Foil, Paper, Bioplastics), Treatment Type (Standard, Aseptic,
Retort, Hot-Filled), Pouch Weight, Sealer, Application, and Region
- Global Forecast to 2024", published by
MarketsandMarkets™, the Pouches Market is estimated to account
for USD 36.4 billion in 2019 and is
projected to reach USD 46.1 billion
by 2024, recording a CAGR of 4.8%. The rising demand for packaged
food and the cost-effectiveness of flexible packaging solutions is
projected to drive the demand for pouches. Furthermore, the
increase in demand from end-user industries due to the aesthetic
appeal of pouches is projected to drive its market growth during
the forecast period.
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The stand-up pouches segment is projected to grow at the highest
CAGR in the global pouches market from 2019 to 2024
The stand-up pouches segment is projected to grow at the highest
CAGR during the forecast period, in terms of value. This is mainly
attributed to the high demand in the food and beverage industry and
the growing need for compact and lightweight packaging solutions.
Stand-up pouches are durable and render high stability to the
products, which further contributes to its high growth rate. This
form of packaging is commonly used for lightweight products such as
coffee, tea, sauces, and candies. Furthermore, they are also
considered an ideal form of packaging for products that weigh less
than a pound.
The standard segment is estimated to dominate the pouches
market in 2019
The standard segment dominated the market, on the basis of
treatment type, in terms of both value and volume. The
cost-effectiveness and aesthetic display of these pouches in stores
contribute to its leading share in the pouches market. However, the
hot-filled pouches segment is projected to be the fastest-growing
segment, in terms of both value and volume, from 2019 to 2024. The
growth of the hot-filled and aseptic pouches segments is attributed
to the increase in demand for products with a longer shelf life and
their usage for ready-to-drink beverages.
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The food industry is estimated to be a major consumer in the
pouches market in 2019
Pouches are made of highly sterilized materials. These materials
help in protecting the product from contamination, making them
ideal for food, beverages, and healthcare packaging. These pouches
are manufactured using multiple layered films that protect the
contents from moisture, light, and odor, and preserve the freshness
of food and beverages items. The key factors driving the growth of
the pouches market include the increase in demand for compact &
lightweight packaging solutions for baby food. In the food
industry, pouches are widely used in the packaging of sauces, pet
food, ready-to-eat/frozen meal, candies, chocolates, snacks, dried
fruits & nuts, and confectionery products. Factors that are
projected to drive the demand for these pouches in the beverage
industry include protection from contamination, aesthetic appeal,
and tailor-made packaging solutions, in terms of unique shapes,
styles, and designs.
Asia Pacific is projected to
account for the largest share in the pouches market during the
forecast period
Asia Pacific is projected to
dominate the pouches market during the forecast period. This is
attributed to the increasing demand for compact packaging solutions
from densely populated countries such as India and China. In addition, the growing population in
these countries widens the customer base for FMCG products, food,
and beverages, which in turn, is projected to drive the growth of
the pouches market in the region. Moreover, factors such as
industrialization, growing middle-class population, rising
disposable income, changing lifestyles, and increasing consumption
of packed food products are projected to drive the demand for
pouches in the region.
Key players operating in the Pouches Market include Amcor
(Australia), Smurfit Kappa
(Ireland), Mondi (Austria), Berry Global Inc. (US), Sonoco
(US), Sealed Air (US), Huhtamaki (Finland), Constantia Flexibles (Austria),
Coveris (Austria), Clondalkin Group (Netherlands), Goglio SpA (Italy), KOROZO (Turkey), ProAmpac (US), Gualapack S.p.A.
(Italy), and DaklaPack
(Netherlands). These players have
adopted various growth strategies to expand their global presence
and increase their market share. Mergers & acquisitions,
expansions, investments, divestitures, new product launches,
partnerships, agreements, and joint venture are some of the major
strategies adopted by key players operating in the market.
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Browse Adjacent Markets: Packaging Market
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