Pouches Market worth $46.1 billion by 2024 | Key players Amcor, Smurfit Kappa, Mondi, Berry Global Inc., Sonoco

According to recent market research "Pouches Market by Type (Stand-Up, Flat, Rollstock), Material (Plastic Films, Aluminum Foil, Paper, Bioplastics), Treatment Type (Standard, Aseptic, Retort, Hot-Filled), Pouch Weight, Sealer, Application, and Region - Global Forecast to 2024", The global pouches market is estimated to account for USD 36.4 billion in 2019 and is projected to reach USD 46.1 billion by 2024, recording a CAGR of 4.8%. 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.

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The stand-up pouches segment is projected to grow at the highest CAGR in the global pouches market from 2019 to 2024

The stand-up pouches segment is projected to grow at the highest CAGR during the forecast period, in terms of value. This is mainly attributed to the high demand in the food and beverage industry and the growing need for compact and lightweight packaging solutions. Stand-up pouches are durable and render high stability to the products, which further contributes to its high growth rate. This form of packaging is commonly used for lightweight products such as coffee, tea, sauces, and candies. Furthermore, they are also considered an ideal form of packaging for products that weigh less than a pound.

The standard segment is estimated to dominate the pouches market in 2019

The standard segment dominated the market, on the basis of treatment type, in terms of both value and volume. The cost-effectiveness and aesthetic display of these pouches in stores contribute to its leading share in the pouches market. However, the hot-filled pouches segment is projected to be the fastest-growing segment, in terms of both value and volume, from 2019 to 2024. The growth of the hot-filled and aseptic pouches segments is attributed to the increase in demand for products with a longer shelf life and their usage for ready-to-drink beverages.

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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.

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.

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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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