Press release
Pouches Market worth $46.1 billion by 2024 | Key Players include Amcor, Smurfit Kappa, Mondi, Berry Global Inc., Sonoco, Sealed Air, Huhtamaki, Constantia Flexibles, Coveris, Clondalkin Group, Goglio SpA, KOROZO, ProAmpac, Gualapack S.p.A., and DaklaPack
Pouches Market, Pouches, Pouche, Pouch
The rising demand for packaged food and the cost-effectiveness of flexible packaging solutions is projected to drive the demand for pouches. Furthermore, the increase in demand from end-user industries due to the aesthetic appeal of pouches is projected to drive its market growth during the forecast period.
Browse 177 market data Tables and 49 Figures spread through 208 Pages and in-depth TOC on "Pouches Market - Global Forecast to 2024"
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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. 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.
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The global 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. The rising demand for packaged food & beverages is projected to drive the pouches market. The aesthetic appeal and cost-effectiveness of pouches are further projected to drive the growth of the market. Furthermore, the growing popularity of pouches for alcohol packaging is creating growth opportunities for the global pouches market.
The global pouches market is dominated by key players such as Amcor (Australia), Smurfit Kappa (Ireland), Mondi (Austria), Berry Global Inc. (US), and Sonoco (US). These players have adopted various growth strategies, such as expansions, investments, new product launches, acquisitions, mergers, partnerships, agreements, and joint ventures, to increase their market shares and enhance their product portfolios.
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The strategies of acquisitions & mergers accounted for the largest share of all the strategic developments that took place in the global pouches market between 2015 and 2019. Key players such as Amcor (Australia), Smurfit Kappa (Ireland), Mondi (Austria), Berry Global Inc. (US), Sonoco (US), Sealed Air (US), Huhtamaki (Finland), Constantia Flexibles (Austria), Coveris (Austria), Clondalkin Group (Netherlands), Goglio SpA (Italy), KOROZO (Turkey), ProAmpac (US), Gualapack S.p.A. (Italy), and DaklaPack (Netherlands) adopted these strategies to expand their business portfolios and enhance their market presence in the pouches market.
Smurfit Kappa (Ireland) is a leading manufacturer and supplier of paper-based packaging solutions and offers various pouches under its brand name, Pouch-Up. Through its pouches product portfolio, it offers packaging solutions for applications in dairy, beverages, fruit & vegetable, and wine packaging. Manufacturing facilities of the company and its diverse product portfolio have strengthened its position in the packaging market. Moreover, the company’s subsidiaries are mainly engaged in the R&D activities for providing innovative and improved products, which are projected to leverage the product leadership position of the company and expand its brand presence. The company is focusing on expanding its manufacturing footprints across regions, which gives it a competitive advantage.
Amcor (Australia) is one of the key manufacturers in the market, and designs highly versatile pouches that are innovative, available with a one-way integrated valve, and offer ease of disposal. The company mainly focuses on developing innovative products, which has helped it to establish a leadership position. Its focus on the acquisition of value-creating companies is projected to contribute to the market growth in the developing countries. The company increased its productivity by investing in new facilities and acquiring companies such as Nampak Flexibles (South Africa), Hebei Qite Packing Co. Ltd. (China), Alusa S.A. (Chile), and Packaging India Private Limited (India). With its recent acquisition initiative of Bemis Company Inc. (US), the company is projected to lead in the consumer packaging market.
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