The Sachet Packaging Market Is Estimated To Witness High Growth Owing To Rising Demand For Convenient Packaging
The Sachet Packaging market is estimated to be valued at US$ 10475.75 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sachet packaging is used for packaging small consumer goods such as spices, sauces, medicines, shampoos, conditioners and other personal care products. They are preferred owing to their affordability and convenience of carrying small amounts. Moreover, sachets are extensively used in emerging economies where many consumers have low purchasing power and prefer buying products in small quantities.
Market Dynamics:
The sachet packaging market is projected to grow at a significant rate over the forecast period owing to increasing demand for convenient packaging from various end use industries such as food, beverages, personal care and pharmaceutical. Additionally, growing urbanization in developing economies has led to changing lifestyle of people who prefer ready-to-eat products available in small sachet sizes due to ease of use. Furthermore, rise in nuclear families has augmented demand for packaged food and beverages available in single serve packs. Sachets provide accessibility to consumers from low socio-economic backgrounds for personal care and pharmaceutical products at affordable prices.
SWOT Analysis
Strength:
Sachet packaging offers affordability and accessibility to consumers with low incomes. It helps expand the target consumer base for brands.
Sachet packaging uses limited resources and generates less waste, making it environment friendly. It promotes sustainable consumption.
Sachet packaging allows for smaller and single-use servings of products, making it convenient for on-the-go consumption.
Weakness:
Frequent disposal of small sachets results in high amounts of non-recyclable waste generation.
Sachet packaging materials are thin and flimsy, making the packaged products prone to damage during transportation and logistics.
Opportunity:
Growth of travel retail and impulse buying customers increases the demand for conveniently packaged single-use product options. Sachet packaging caters well to this trend.
Rising health and hygiene awareness in developing nations boosts the demand for sachet packaged personal care and food products.
Threats:
Stringent government regulations regarding plastic and packaging waste disposal may restrict the use of non-recyclable materials in sachet packaging.
Substitution threat from flexible and recloseable stand-up pouches which provide resealability andportion control.
Key Takeaways
The global Sachet Packaging Market Size is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing demand for affordable and portion sized food and personal care packaging from low income customers.
Regional analysis
Asia Pacific accounts for the largest share in the global sachet packaging market. The region is expected to witness highest growth during the forecast period owing to rising disposable income and increasing demand for on-the-go consumption products in developing economies such as India and Indonesia. North America and Europe hold significant shares in the market and exhibit steady growth.
Key players
Key players operating in the sachet packaging market are Amcor Limited, Bemis Company, Inc., Constantia, Sonoco Products Company, Huhtamaki Group, Mondi, Sealed Air Corporation, RCP Ranstadt GmbH, and Clondalkin Group.
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