Pouches Market worth 46m

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TrendingReports 5/29/2023 4:28:46 PM

Pouches
Market worth $46.1 billion by 2024


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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Browse in-depth TOC on "Pouches Market"

177 - Tables

49 - Figures

208 – Pages

 

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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