The 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″ The global 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
Throughout the forecast period, the stand-up pouches sector is anticipated to grow at the greatest CAGR in terms of value. This is mostly attributable to the increasing demand in the food and beverage sector and the expanding desire for small-footprint packaging options. The significant growth rate of stand-up pouches is also attributed to their durability and high level of product stability. For lightweight products like coffee, tea, sauces, and candies, this type of packaging is frequently employed. Moreover, they are thought to be the best kind of packing for goods weighing less than a pound.
The standard segment is estimated to dominate the pouches market in 2019
According to the type of treatment, the standard sector dominated the market in terms of both value and volume. These pouches have a dominant position in the pouch market thanks to their affordability and attractive retail display. Nonetheless, it is anticipated that between 2019 and 2024, the hot-filled pouches category would experience the highest growth in terms of both value and volume. The desire for products with a longer shelf life and their use for ready-to-drink beverages are both factors in the rise of the hot-filled and aseptic pouch segments.
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The food industry is estimated to be a major consumer in the pouches market in 2019
Materials that are highly sterile are used to make pouches. These materials are perfect for food, beverage, and healthcare packaging since they aid in preventing product contamination. These pouches are made with numerous layers of film that shield the food and beverage products within from moisture, light, and odour while also maintaining their freshness. The rise in demand for small, lightweight packaging options for baby food is one of the main drivers propelling the pouches market’s expansion. Pouches are frequently used in the food sector to package products including sauces, pet food, ready-to-eat/frozen meals, sweets, chocolates, snacks, dried fruits & nuts, and confectionery. 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
Over the forecast period, Asia Pacific is expected to dominate the pouch market. This is explained by the rising demand for small-footprint packaging options coming from populous nations like China and India. Also, the expanding consumer base for FMCG goods, food, and beverages in these nations expands as a result of the growing population, which is anticipated to fuel the expansion of the regional pouches market. Additionally, it is anticipated that the region’s demand for pouches will be fueled by factors like industrialization, a growing middle-class population, increased disposable income, changing lifestyles, and expanding consumption of packaged food items.
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.
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