DUBLIN--(BUSINESS WIRE)--The "Pouch Packaging Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The pouch packaging market was valued at USD 17.23 billion in 2018 and is expected to reach a value of USD 21.64 billion by 2024 at a CAGR of 4.66%, over the forecast period 2019- 2024.
According to numbers generated by a Harris Poll chartered by the Flexible Packaging, 83 % of all brand owners are currently using flexible packaging of some type. This supports the growth of the pouch packaging market.
- The snacking trend is witnessing a rise including usage of single-serve, as well as re-usable packaging solutions. Here, the pouch packaging serves the demand of the consumer. Pouches are lighter in weight and resulted in reduced cost of transportation of goods. Thus, pouch packaging has turned out to be one of the most efficient and economical packaging solutions for brand owners operating in the packaged food industry.
- Moreover, FDA regulations for pet food products have improved over the years and are similar to human foods. Manufacturers are focusing on providing consumers want such as intelligent packaging for pet food. Thus, the plastics pouch demand will be bolstered by features that are inherently convenient for consumers, including zippered closure mechanisms and lightweight, as well as by reduced transportation costs due to their lightweight. Pouch packaging growth will be strong in both dry and wet pet food.
- However, mainly due to the lack of high-speed filling equipment, which has a certain impact on mass production is hindering the pouches packaging market.
Scope of the Report
The whole packaging industry revolves around the essential element i.e. consumer preference and due to which pouches have already replaced traditional glass and cans in the center of the stores. The features offered by pouches include an easy opening (e.g. tear notch, laser perforation), easy to use (e.g. zipper, shapes) and they are reclosable. Moreover, they are chemically inert because of which they are widely used in different industries such as pharmaceuticals, pet-food, and cosmetics.
Key Market Trends
Demand of Packaged Food Offers Potential Growth
- In a Flexible Packaging Association (FPA) survey of 2,120 consumers, consumers placed a high value on the packaging that is easy to store, easy to reseal, and easy to open. Consumers in the survey also said they are willing to pay more for benefits like ability to reseal, ability to extend product life, easy to store and easy to open.
- Therefore, pouches have seen increased demand due to its clean, premium look to ease of shipping and handling to innovations in pouch packaging for even messy items like creams, soups, and sauces.
- With the increasing urbanization and fast-paced lifestyle, consumers want a single serve meal (which will provide a required amount of nutritional benefits) and for this pouch packaging helps in fulfilling their demand. Nowadays, even mothers are feeding their babies food from squeezable pouches that eliminate the need for spoons, bowls and even bibs.
- Moreover, with the innovations like modified atmosphere packaging, vacuum packaging, active packaging and retort packaging help seal in freshness and lock out potentially damaging environmental elements, helping keep food fresher longer.
- With the growth of the packaged food industry in developing nations like India, it can be inferred that the overall packaged food industry will flourish. Additionally, Accenture predicted that by 2050, 66% of the world's population will be staying in the urban area and thus in return it will help in the growing packaged food industry.
- Therefore, above factors are expected to help in the flourishing of the pouch packaging market in the packaged food industry.
Asia-Pacific to Witness the Fastest Growth
- Asia-Pacific is expected to witness the fastest growth because of the presence of two highly populated countries i.e. China and India. In these two countries, the increase in disposable income will act as a supplement for the growth of industries such as food and beverages, pharmaceuticals, pet-food, and cosmetics which in return will help in flourishing the pouch packaging market.
- Moreover, with the vast rise in demand for packaged foods and beverages and the critical role played by pouch packaging in keeping packaged consumables fresh for extended periods are likely to boost the market in these regions.
- With the growing demand for takeaway and ready-to-eat (RTE) food, the amount of packaging waste is also increasing and most of the plastic packaging materials are non-biodegradable. Therefore, the government of China has formulated several laws and regulations to protect foods and beverages from the harmful effects of packaging materials. Thus, packaging companies are moving towards biodegradable pouches such as a paper pouch, etc.
The pouch packaging market is fragmented and competitive in nature. Some of the major players are AEP Industries Inc., Amcor Limited, Ampac Holdings, LLC, Bemis Company Inc., Berry Plastics Corporation, Tetra Laval International S.A., RPC Group PLC, Alcoa Inc., Reynolds Group Holdings, and Crown Holdings Incorporated, among others.
Factors such as the increasing demand for food and beverages will provide considerable growth opportunities pouch packaging market and therefore many companies are seeing this market as an emerging market. Some of the recent developments are:
- April 2019 - Amcor launched AmLite Ultra Recyclable pouch. It can package a range of food, home, and personal care, and pharmaceutical products, and be recycled in existing polyolefin recycling streams.
- January 2018 - Amcor Limited pledged to develop all its packaging to be recyclable or reusable by 2025. And, also planned to focus on significantly increasing its use of recycled materials and driving consistently more recycling of packaging around the world. This commitment was aimed at establishing the company as a leader in recyclable packaging.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Innovations in Food & Beverages Packaging
4.4 Market Restraints
4.4.1 Lack of High-Speed Filling Equipment
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Material Type
5.2 By End-user Vertical
5.2.3 Household Care
5.2.6 Cosmetics & Personal Care
5.2.7 Other End-user Verticals
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AEP Industries Inc.
6.1.2 Amcor Limited
6.1.3 Ampac Holdings, LLC
6.1.4 Berry Plastics Corporation
6.1.5 Tetra Laval International S.A.
6.1.6 Reynolds Group Holdings
6.1.7 Crown Holdings Incorporated
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/n4fym9