DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The global pouches market is projected to grow from US$ 36.4 billion in 2019, to reach US$ 46.1 billion by 2024, recording a CAGR of 4.8%.
The pouches market is dominated by several large players, such as 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 companies have a strong product portfolio and focus on expanding their market presence and product portfolio by adopting strategic initiatives such as new product launches; mergers & acquisitions; expansions, investments, & divestitures; and partnerships, agreements, & joint ventures.
The rise in demand for packaged food and beverages is projected to drive the overall growth of the pouches market across the globe from 2019 to 2024
The rising demand for packaged food and the need for cost-effective packaging solutions is projected to drive the demand for pouches. However, the recycling of multi-layer structures and the availability of substitutes are projected to inhibit the growth of the market.
In terms of value, the stand-up pouches segment is projected to grow at the highest CAGR during the forecast period
The stand-up pouches segment in the pouches market is projected to grow at the highest CAGR during the forecast period, in terms of value. The growth of this segment is attributed to the high demand for stand-up pouches in the food & beverage industry, as they are durable and render high stability to the product. Stand-up pouches are commonly used for food packaging products such as coffee, tea, sauces, and candies. They are considered an ideal packaging solution for products that weigh less than a pound.
In terms of value, the standard segment is projected to dominate the pouches market from 2019 to 2024
The standard segment is projected to dominate the pouches market from 2019 to 2024, in terms of value. The demand for longer shelf life, aesthetic appeal, and high seal integrity are some of the key factors contributing to the growth of the standard segment. In addition, this segment is projected to account for the largest share in the market due to its cost-effectiveness and aesthetic display in stores. However, the hot-filled segment is projected to witness significant growth due to the high demand for products with longer shelf life and their usage in ready-to-drink beverages.
In terms of both value and volume, the Asia Pacific pouches market is projected to grow at the highest CAGR during the forecast period
In terms of both value and volume, the Asia Pacific pouches market is projected to grow at the highest CAGR from 2019 to 2024. The growth of the market in this region is attributed to the increase in the disposable income of individuals, which has led to a rise in the demand for ready-to-eat products. Furthermore, the easy availability of raw materials and the increasing demand for compact packaging solutions from densely populated countries such as India and China are projected to drive the demand for pouches.
Market Dynamics
Drivers
- Rising Demand for Packaged Food & Beverages
- Cost-Effectiveness
- Rise in Demand From End-Use Industries
- Aesthetic Appeal
Restraints
- Stringent Government Regulations
Opportunities
- Rise in Demand From Emerging Economies
- Growing Popularity of Pouches in Alcohol Packaging
Challenges
- Availability of Substitutes
- Recycling of Multi-Layer Structure
Company Profiles
- Smurfit Kappa
- Amcor
- Mondi
- Berry Global Inc.
- Sonoco
- Sealed Air
- Huhtamaki
- Constantia Flexibles
- Coveris
- Clondalkin Group
- Goglio Spa
- KOROZO
- Wipf Holding AG
- A. Hatzopoulos S.A.
- Proampac
- Gualapack S.p.A.
- Formika
- Daklapack Group
Other Players
- American Packaging Corporation
- Bryce Corporation
- Glenroy, Inc.
- C-P Flexible Packaging
- St. Johns Packaging
- Scholle IPN
- Interflex Group
For more information about this report visit https://www.researchandmarkets.com/r/6ey9mv
