Pouches Industry Overview
The global pouches market size is expected to reach USD 55.88 billion by 2028, expanding at a CAGR of 5.5%, according to a new report by Grand View Research, Inc. Rising demand for low-cost, convenient, shelf appealing, and lightweight packaging by end-use industries, including food and beverages, healthcare, personal care and cosmetics, and home care, is likely to fuel market growth.
Pouches demand lesser material, energy, and water during their manufacturing and thus prove to be significantly less expensive than rigid packaging solutions. In addition, lightweight and flexibility attribute for their lower transportation cost, due to which Consumer Products (CPG) companies are increasingly opting for pouches over rigid tubes, containers, and boxes.
Pouches Market Segmentation
Grand View Research has segmented the global pouches market on the basis of material, treatment type, product, end-use, closure type, and region:
Based on the Treatment Type Insights, the market is segmented into Standard, Aseptic, Retort, and Hot-fill
- The standard treatment type segment dominated the market with a revenue share of more than 59% in 2020.
- The growth is credited to the widespread use of standard treatment pouches across the food & beverage, personal care, and cosmetics end-use sectors owing to their lower cost as well as higher durability.
- The aseptic treatment type is expected to witness the fastest CAGR from 2020 to 2028.
Based on the Material Insights, the market is segmented into Plastic, Metal, Paper, and Bioplastics
- The plastics material segment dominated the market with a revenue share of more than 64% in 2020.
- Plastic pouches keep packaged products fresh for a longer duration as they offer strong resistance to moisture, dust, oxygen, and UV light; this factor is mainly attributed to the highest share of the segment.
- The bioplastic material segment is anticipated to witness the fastest CAGR from 2020 to 2028.
- The growing stringent regulations on the use of plastic packaging and rising awareness about sustainable packaging solutions among consumers are expected to augment the growth of the bioplastics material segment in the coming years.
Based on the Closure Type Insights, the market is segmented into Tear Notch, Zipper, and Spout
- Increasing demand for sustainable alternatives, the spout closure type is expected to witness the fastest CAGR of 5.7% during the forecast period.
- The tear notch closure type segment accounted for the second-highest revenue share in 2020.
- Zipper pouches are becoming a popular choice in emerging economies where consumers are shifting toward packaged foods for daily consumption.
Based on the Product Insights, the market is segmented into Flat and Stand-up
- The flat product segment dominated the industry accounting for a 65.8% revenue share in 2020.
- Various CPG products, such as snacks, confectionery, dry fruits, detergents, fabric care, and medical equipment, are predominantly packed in flat pouches due to their low cost and convenience of storage.
- The stand-up pouch type segment is expected to witness the fastest CAGR over the forecast years.
Based on the End-use Insights, the market is segmented into Food & Beverages, Healthcare, Personal Care & Cosmetics, Homecare, and Others
- The food & beverage end-use segment dominated the market accounting for a revenue share of more than 55.1% in 2020.
- Increasing product usage for the packaging of alcoholic beverages, due to its low weight, high sustainability, and non-fragile nature, is contributing to the growth of the segment.
- The convenience offered by the pouches, especially during traveling coupled with the growing personal care and cosmetics industry is a key factor driving the growth of the personal care and cosmetic segment.
Pouches Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies Profile & Market Share Insights
The industry is highly fragmented due to the presence of domestic as well as global players. Key companies in the industry mainly offer customized packaging products and are adopting strategies, such as mergers & acquisitions and new product developments, to gain a competitive advantage over others.
Some prominent players in the global Pouches market include:
- Amcor plc
- Mondi
- Sealed Air
- CONSTANTIA
- Coveris
- Goglio SpA
- ProAmpac
- GUALAPACK S.P.A
- Huhtamaki Group
- Smurfit Kappa
Order a free sample PDF of the Pouches Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment