Press release
How High-Barrier Pouches Market Growing Rapidly…? Top Players: Hood Packaging Corporation, Sonoco, Amcor, Sealed Air Corporation, Krehalon b.v.
High-Barrier Pouches Market
Europe High-Barrier Pouches Market will witness gains over 5% up to 2024. Fast paced lifestyle along with rise in demand from consumers for small & convenient packages will support product penetration. Increasing product application in pharmaceutical sector is projected to boost regional market. Heat & acid resistance and superior shelf life are key properties propelling product demand.
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Potential outlook in food & beverage applications is expected to drive high barrier pouches market. Longer shelf life, superior preservation, lightness, extended durability and recyclable properties will support product penetration.
Global high barrier pouches market share is highly fragmented owing to presence of many industry players both at regional & international level. Some of the major players are:
• Essentra
• Elliot Packaging
• Amcor
• Hood Packaging
• Sonoco
• Bemis
• American Pouch
• Vacuum Pouch Company
Companies are considering packaging as a branding tool rather than a protective package. Especially in FMCG environment where consumers are less concerned abound brand loyalty. Thus, manufactures are expected to invest in packaging design to gain competitive advantage and boost their product sales.
Industrial application segment will exceed USD 150 million by 2024. Rising product application for packaging fluids, paint & coatings and lubricants will drive high barrier pouches market growth in this segment. Increasing construction spending coupled with infrastructure development mainly in developing countries will boost the product demand.
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Spouted high barrier pouches will grow over 6% up to 2024. Easy product consumption without utensils usage owing to attached spout in the pouch has supported industry growth. Easy to handle & carry, ready to pour and mess free food consumption are the driving factors for high barrier pouches market growth.
Polyethylene will observe gains over 5.5% up to 2024. Excellent resistance and tensile strength as compared to other materials will drive industry growth. Increasing demand from household and industrial chemical segments owing to superior chemical resistance property is expected to propel product demand.
Liberalization of trade policies is likely to propel the international trade, which will positively influence the high barrier pouches market growth. Changing demographic and income trends led to an increase in consumer spending on disposable products. Increased adoption of new packaging technology, mainly by pharmaceutical and dairy sectors, are the key driving factors for the industry growth.
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