Pouch Packaging Market Was Valued at USD 41,393.6 million in 2021 Owing to Increased Demand for Food and Beverages packaging
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Food & Beverages Segment Dominates the Pouch Packaging Market:
The food & beverages segment is expected to account for revenue share in the global pouch packaging market with a share of X% in the global market in 2021 and projected to grow at X% CAGR over 2022 - 2028.The growth of this segment is due to snacking trend is witnessing a rise, including the usage of single-serve and re-usable packaging solutions. Furthermore, there is increased demand for compact and lightweight packing materials, which is driving the growth of this segment.
North America Leads Pouch Packaging Market:
From 2022 to 2028, the Asia Pacific Pouch market is predicted to grow at the fastest rate in terms of value. The Asia Pacific region's rise is attributed to the increased demand for Pouch in densely populated countries like India and China since this packaging offers cost savings and provides an aesthetic appeal to the product. Furthermore, the growing use of Pouch in food, beverages, healthcare, personal care & home care, oil & lubricants, and agricultural products is likely to drive the Asia Pacific pouch market. North America is predicted to grow at a X% CAGR over the projection period, reaching USD X Mn.
Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Pouch packaging market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In Feb 2022, Tetra Pak, a world-leading packaging and processing solutions provider, has introduced its first ever locally manufactured holographic packaging material in India. The innovative packaging, called Tetra Pak® Reflect, has been launched in partnership with Warana, a leading co-operative dairy, for their 1 litre Ghee (clarified butter) packs. The artistic package is designed to help food and beverage brands add a new eye-catching dimension to their packs. In August 2021, Sonoco one of the largest sustainable global packaging companies, announced it has completed the acquisition of Ball Metalpack, a leading manufacturer of sustainable metal packaging for food and household products and the largest aerosol can producer in North America. Ball Metalpack was a joint venture owned by Platinum Equity and Ball Corporation.
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The Pouch packaging market is segmented based on material type, end user and geography.
Based on the Material Type, the market is segmented into the following:
Based on the End User, the market is segmented into the following:
• Food & Beverages
• Household Care
• Pet Food
• Cosmetics and Personal Care
Based on the geography, the market is segmented into the following:
• North America
• Asia Pacific
• Latin America
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