Pouches refer to flexible containers that have similar features as bags and are one of the most popular packaging forms in the flexible packaging industry. They witness increasing preference due to their enhanced barrier properties and economical prices, in comparison to the other packaging solutions. These are multi-layered packaging materials that are manufactured using materials such as layers of aluminum foil, plastic film, and vapor-deposited film.
Download PDF Brochure At https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=88797932
Pouches increasingly find applications for packaging in various industries, such as healthcare, food, beverages, and cosmetics & personal care, due to their easy-to-use features, cost-effectiveness, and enhanced aesthetic appeal. According to MarketsandMarkets, the pouches market is projected to grow from USD 36.4 billion in 2019 to USD 46.1 billion by 2024, recording a CAGR of 4.8% during the forecast period.
Based on type, flat pouches are the most widely used pouches in the market. Whereas, the stand-up pouches segment is projected to grow at the highest CAGR from 2019 to 2024, due to its properties such as versatility, easy transportation, and low weight. In addition, the growth of this segment is attributed to the growing demand for products with a longer shelf life and their usage for ready-to-drink beverages and ready-to-cook food.
Based on application, the beverage segment in the Pouches Market is projected to grow at the highest CAGR from 2019 to 2024. The growth of this segment is attributed to key factors such as changing lifestyle of consumers, growing demand for compact & lightweight packaging, increase in disposable incomes, and a rise in the middle-class population.
The growth in the usage of pouches for alcohol packaging further drives the beverages segment in the pouches market. In addition, the increasing need for food packaging has led to an increase in demand for pouches. The preference for pouches also remains high, as it protects the products from contaminants.
Pouches remain an ideal packaging solution for food packaging products, due to their malleability and low weight. Due to these factors, the beverage segment is projected to account for a large market share during the forecast period. Further, the aesthetic value of pouches continues to drive the demand for applications in the personal care & home care, healthcare packaging industries.
The pouches market is segmented into five regions, namely, North America, Asia Pacific, Europe, the Middle East & Africa, and South America. The Asia Pacific region accounted for the largest share in 2018 and is projected to record the highest growth during the forecast period, in terms of both value and volume.
Increasing applications of pouches in the food, beverage, healthcare, and personal care & home care industries are projected to drive the growth of the pouches market in the region. Furthermore, the rising consumption of packaged products, rapid urbanization, and increasing disposable incomes in the developing countries such as China and India are factors that are projected to drive the growth of the Asia Pacific pouches market.
The rise in disposable income in developing economies and an increase in the global population are factors creating new opportunities for packaged food and beverages. The rise in demand for packaged food due to the changing lifestyles of consumers and an increasing number of dual-income families have led to a growing trend of purchasing packaged convenience food. These factors have also led to an increase in consumer preferences for ready-to-eat/frozen food. This, in turn, is projected to create growth opportunities for pouches in the coming years.