USA – The global pouch market is projected to grow at a CAGR of 5.3% during the forecast period (2022-2032), as per a recent study by Future Market Insights.
According to the report, sales are expected to increase from US$50.5 billion in 2022 and reach US$84.6 billion by 2032 with an anticipated Y-o -Y growth rate of around six percent each year.
Applications in food & beverages, healthcare, personal care & cosmetics, and home care are fuelling the sales in the market.
Increasing demand for low-cost, convenient, shelf-appealing and lightweight packaging will also propel the growth in the market.
Pouches use less material in their production, making them less costly than rigid packaging formats.
In addition, due to their lightweight and flexibility, CPG companies are gradually choosing pouches over rigid packaging products like composite cans, containers, and boxes to reduce shipping costs.
Flat pouches take up less room in retail stores and can be readily stacked on top of one another, allowing for more product display than other packaging styles.
Consumers find stand-up pouches on retail shelves more appealing, and the packaging format offers a larger surface area on which high-quality graphics may be printed, resulting in the product type grabbing customer attention in retail outlets more easily than bottles and boxes.
In terms of material, the metal/foil segment is expected to dominate the global market over the forecast period.
Based on product type, the stand-up pouches will account for 85% of the demand share in the forecast period, growing at a CAGR of 6.1%
The report says that Asia Pacific pouch market is to hold about 24% of the global market share during the forecast period.
In the South Asia region, the pouch market is anticipated to be the most attractive during the forecast period owing to the growing food and beverages industry in India and China.
“To enhance the convenience and streamlined e-Commerce operations, an increasing number of food and beverage firms are resorting to flexible packaging. This is driving the demand for pouch packaging solutions,” said Future Market Insights Analyst.
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