Published: 2019-10-01   Views: 9
Author: Research Industry Expert
Published in: Business
Recycling Of Multi-Layer Structure A Major Challenge For Pouches Market

The Pouches Market is projected to grow from USD 36.4 billion in 2019, to reach USD 46.1 billion by 2024, recording a CAGR of 4.8% from 2019 to 2024. 

 

Browse 177 market data Tables and 49 Figures spread through 208 Pages and in-depth TOC on "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".

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The rise in demand for packaged food and cost-effectiveness of pouches are projected to drive the growth of the pouches market, globally. In addition, factors such as the aesthetic appeal and the rise in demand from end-user industries are projected to contribute to the growth of the pouches market during the forecast period.

In terms of value, the stand-up pouches segment is projected to dominate the pouches market during the forecast period.

On the basis of type, the stand-up pouches segment is projected to dominate the pouches market, in terms of value, from 2019 to 2024. These pouches are commonly used in the food & beverages industry, as they are durable and render enhanced stability to the product. They are widely used in food and beverages packaging, due to the increasing demand for compact and lightweight packaging solutions. In addition, they are generally used for lightweight products such as coffee, tea, sauces, and candies.

In terms of value, the beverages segment in the pouches market is projected to grow at the highest CAGR during the forecast period.

Based on application, the beverages segment in the pouches market is projected to grow at the highest CAGR, in terms of value and volume, during the forecast period. The growing use of pouches for alcohol packaging further drives its market growth in the beverage segment. However, the food segment accounted for the largest market share in 2018 in terms of value. Pouches remain preferred and ideal packaging solutions for beverages, due to their malleability and low weight.

In addition, they protect the products from contaminants. Due to these factors, the beverage segment is projected to account for a large market share. Protection from risks of contamination and the attractive display of pouches have also led to an increase in the popularity of pouches in applications such as personal care & home care and healthcare packaging.

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The Asia Pacific pouches market is projected to witness significant growth during the forecast period.

The Asia Pacific pouches market is projected to grow at the highest CAGR from 2018 to 2023, in terms of value. The growth of the market in the Asia Pacific region is attributed to the increased demand for pouches from densely populated countries such as India and China, as this packaging ensures cost savings and offers an aesthetic appeal to the product. Moreover, the increasing application of pouches in the food, beverages, healthcare, personal care & home care, oil & lubricants, and agricultural products is projected to drive the growth of the pouches market in the Asia Pacific region.

Key Market Players

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), DaklaPack (Netherlands), Wipf Holding AG (Switzerland), A. Hatzopoulos S.A. (Greece), and Formika (Poland) are the key players operating in the pouches market.

Amcor is one of the key manufacturers of pouches. Its wide range of pouches caters to a variety of applications across the food, beverage, personal care, and healthcare industries. The company has a strong global presence and has adopted growth strategies such as acquisitions and product launches, to strengthen its leading position in the market. In recent years, the company launched metal-free packaging solutions and ultra-high barrier packaging solutions for spouted pouches, pouches, flow packs, sachets packaging, and bags. In addition, it has acquired Nampak Flexibles, Zhongshan Tiancai Packaging Company, Packaging India Private Limited, Deluxe Packages, and Hebei Qite Packing Co. Ltd), which has further strengthened its market presence and expanded the product portfolio.

 

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Author Bio

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth emerging opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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