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Pouches Market to grow at a CAGR of 4.86% over the forecast period 2020-2026 driven by increasing demand for packaged foods, demand for compact &lightweight packaging, and availability of cost-effective pouches for flexible packaging, finds OG Analysis.
Growing demand for alcohol packaging in pouches and growing consumption of pouches across food and beverage sector to preserve food & reduced waste as well as for ready-to-eat packaging boost the pouches market growth and size.
Amidst treatment types for pouches, standard segment to occupy larger market share during the forecast period till 2026 owing to its cost-effectiveness and colorful display of pouches in retail stores as well as its consumption across key end-user industries.
Whereas, the growth of the hot-filled and aseptic pouches segments is set to emerge with increase in demand for longer shelf life products and their usage for ready-to-drink beverages.
In addition, increasing demand for resealable, recyclable, refill pouches is forcing key companies to focus on biodegradable pouches.
Although there are many prospects in this market, the availability of substitutes for pouches and strict government regulations pose challenge for the pouches market growth during the forecast period.
Among key types, stand-up pouches show promising market share and growth during the estimated period
Stand-Up pouches segment to emerge in terms of value in upcoming years driven by high consumption from the food and beverage industry and the growing need for compact and lightweight packaging solutions.
Additionally, increasing adoption of flexible packaging by various end-user industries, in particular, stand-up pouches for sweet and savory snacks, pet food packaging, fertilizers, and chemical packaging boost the market growth opportunities.
Food industry drives the market application segment for pouches during the estimated period
Based on trends of compact & lightweight packaging pouches across food industry for wide range of food products from baby food, raw, and to ready-to-eat food drives pouches market growth prospects.
Accordingly, rising demand for contamination protection, tailor-made packaging solutions and aesthetic appeal in terms of unique designs, styles and shapes to contributed the overall market growth.
In addition, the emergence of online food delivering services driven by growth of internet, economic necessities with expanding choices and convenience boost the pouches market growth over the medium to long term period.
Asia Pacific is set to be the major revenue contributor for pouches market growth
Based on the recent analysis on pouches market, OG Analysis recognizes demand for compact packaging solutions as a key factor driving the market growth across Asian countries. Furthermore, rapid population growth, rise in disposable income, industrialization, and increasing demand for packaged food are the factors driving the demand for pouches across Asia Pacific.
In addition, the large consumption factor in these countries widens the customer base for FMCG products, food, and beverages which drives the pouches market growth opportunities.
With the growing demand for takeaway and ready-to-eat (RTE) food the amount of packaging waste is increasing. Therefore, the governments of these emerging countries are deploying regulations. Accordingly, key companies are moving towards biodegradable pouches such as a paper pouch and recyclable pouches.
Key vendors are observed to focus on innovative product portfolio during the forecast period
Key companies vegetable-based are investing in launch of innovative products such as resealable and refill pouches to expand market share amidst competitive landscape of prominent players. For instance, in 2019, Dunnet Bay Distillers launched recyclable gin pouch which can refill pouches for its Rock Rose Gin. Further, in 2019, paper-based packaging firm Smurfit Kappa expanded its pouch-up portfolio with the launch of a stand-up pouch for olive oil.
In addition, in 2017, Clondalkin Flexible Packaging (CFP) Grootegast produced the stand-up pouches for a new range of bean and vegetable-based ready meals developed by Dutch company Boon Food Concepts.
Moreover, key market players are investing in launching eco-friendly and recyclable pouches in compliance with stringent regulations, accordingly in 2019, Amcor launched AmLite Ultra Recyclable pouch for packaging a range of food, personal care, and pharmaceutical products.
Key players contributing to the pouches market share include Sonoco, Smurfit Kappa, Mondi, Amcor, Berry Global Inc., Huhtamaki, Sealed Air, Constantia Flexibles, Clondalkin Group, and Coveris.
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