Sachet Packaging Market Poised to Garner Maximum Revenues During 2017 – 2027

Affordable price point aids penetration in emerging markets

Over the years, sachets have been used by large brands for sampling, to facilitate the penetration of their products in different markets and especially for targeting economically underprivileged societies in emerging economies. Sachet packaging is a marketing strategy designed to cater to the economic underclass in emerging economies as they represent a significant fraction of the population. The fact that sachets are affordable for all sections help in rapid market penetration. According to different studies, sachet packaging has witnessed the peak of success in countries such as India and other Southeast Asian countries, where they account for more than 95% of industry sales in terms of volume and 60% in terms of value. In countries such as India, sachets are cheaper than bottles, leading to more people indulging in product trials using single use sachets.

Request to Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-4469

In western countries however, the situation is the opposite. Sachets cost more than bottles, per ml, a phenomenon that is referred to as negative price-pack curve. Sachets are used as small quantity sampling packages, usually containing 3-5 ml of the product. The idea is for the consumer to try the product and move on to bottles or bigger pack sizes if the product is found satisfactory. However, in countries such as India, the prices are kept low by brands to increase penetration and to appeal to all classes of consumers. Low cost helps sachets account for a major share of the market and also ensure high penetration in countries such as India, with a primarily price-sensitive population. In addition, sachets present an airtight environment, which enables manufacturers to offer more natural and high quality fresh products and reduce the use of preservatives. Stick packs as an alternative to sachets hampering market growth

The global sachet packaging market might potentially be challenged by the growth of alternative flexible packaging solutions that come in small pack sizes. Growth in the global flexible packaging industry has paved way for growth in demand for small pack sizes to suit consumer preferences for convenience packaging. In western countries, the growth outlook of the sachet packaging market is slower as sachets are used for a different purpose in developed nations. Barring India and a few other South East Asian countries, most other countries have higher per ml cost of sachets as compared to larger pack sizes. This results in lower CAGR. Apart from this, growth in demand for alternative packaging solutions such as stick packs is also high. There is high competition between stick packs and sachets. The competitive edge that stick packs have over sachets is lower material cost. It costs more to pack a sachet than a stick pack. Stick packs have also emerged as one of the ideal unit-dose packaging solutions that mainly target the millennial population.

Similar to sachets, stick packs have also found applications in a variety of industries such as the food and pharmaceutical industries. Another advantage that stick packs have over sachets is the relatively low material requirement, which according to some studies, has been estimated to be around 40% less than the amount of material required to pack sachets for the same fill capacity. As the demand for flexible packaging continues to increase, the competition between sachets and stick packs is expected to become more intense, further hampering optimum growth of the sachet packaging market. However, this also presents an opportunity for sachet manufacturers to identify consumer needs and innovate accordingly to stay ahead of the competition. Global Sachet Packaging Market Forecast

The global sachet packaging market is estimated to be valued at over US$ 7,000 Mn in 2017, and is forecasted to be valued at more than US$ 12,000 Mn by the end of 2027. This represents a CAGR of 5.8% during the forecast period of 2017-2027.

Asia Pacific region to demonstrate a strong showing in the sachet packaging market by the first half of the next decade

North America leads the sachet packaging market in terms of value and volume, owing to a highly saturated market and a large retail sector. However, APEJ region is anticipated to overtake North America and emerge as the market leader by the first half of the next decade. The global sachet packaging market is expected to witness sizeable demand mainly from emerging economies over the forecast period.

Request Report TOC @ https://www.futuremarketinsights.com/askus/rep-gb-4469

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

CONTACT:
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Website :www.futuremarketinsights.com

This release was published on openPR.