Pouches Market Opportunities, Business Forecast To 2028
The global pouches market size was valued at USD 40,686.3 million in 2021 and is poised to grow at a significant CAGR of 5.0% during the forecast period 2022–2028. Stand-up Pouch segment is expected to account for a larger revenue share in the global pouches market, with a value share worldwide. The stand-up pouches segment is expected to expand due to expanding food, beverage, and healthcare sectors around the world. Manufacturers and consumers are switching from traditional rigid packaging solutions to flexible packaging solutions like stand-up pouches due to advantages. Stand-up pouches are very popular right now since they complement the modern, easy lifestyle. The market is expanding as a result of rising concerns & awareness about adopting sustainable stand-up pouches packaging solutions as well as rising ready-to-eat and packaged food consumption. Additionally, a lot of consumers now view stand-up pouches as a sign of quality, thus providers must use them to convey premiumization through this type of packaging. Furthermore, Stand-Up pouches safeguard food by shielding it from contaminants including moisture, light, air, and bacteria.
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The global pouches market segmentation:
1) By Type: Flat Pouches, Spout Pouches, Stand-Up Pouches, Others.
2) By Material: Plastic Film, Paper, Bioplastic, Aluminium Foil.
3) By Application: Beverages, Healthcare, Personal care & Homecare, Food, Others.
Asia Pacific Pouches Market
The Asia Pacific market is expected to increase in the global pouches market over the forecast period. It is projected to grow at a CAGR of 6.7% in the coming years. The demand for ready-to-eat food is anticipated to increase due to the growing number of foreigners and tourist visits. This growth-promoting factor is predicted to secure the significant growth of ready-to-eat food and, as a result, to catalyze the enormous growth of the Asia Pacific ready-to-eat food in the foreseeable future. India and China are the major contributors to the growth of the market in the region. North America held a considerable market share during the estimated period. North America held a considerable market share during the estimated period.
The global pouches market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Sept 2020, the first recyclable flexible retort pouch in the world was released by Amcor and Nestlé. employing Amcor's AmLite HeatFlex Recyclable solution, the new high barrier pouch. This high-barrier, high-heat resistant packaging is simple to recycle using the plastic recycling systems that are already in place in a number of European nations.
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Key players’ profiles in the pouches market report are Amcor Plc, Constantia, Coveris, Goglio SpA, Gualapack SpA, Huhtamaki Group, Mondi, ProAmpac, Sealed Air and Smurfit Kappa. The primary driver of the expansion of the global pouches market.
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