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Stand-Up Pouches Market Analysis and Forecast Trends 2024
Stand-Up Pouches Market Analysis
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According to The Business Research Company's, The stand-up pouches market size has grown strongly in recent years. It will grow from $22.75 billion in 2023 to $24.95 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to consumer preference for resealable packaging, market entry for small and medium enterprises, ease of transportation and handling, reduced environmental impact, barrier protection and product freshness.
The stand-up pouches market size is expected to see rapid growth in the next few years. It will grow to $36.57 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to sustainability and eco-friendly packaging, convenience and on-the-go lifestyles, customization and brand differentiation, rise in single-serve packaging, expansion in food and beverage industry. Major trends in the forecast period include advancements in manufacturing technology, personal care and cosmetic industry adoption, retail preference for shelf-efficient packaging, innovations in design and functionality.
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Market Drivers and Trends:
The rising environmental concerns and regulations are expected to propel the growth of stand-up pouches market going forward. Stand-up pouches, known for their environmentally sustainable materials and recyclability, have gained popularity as businesses and consumers seek greener options. The push for innovation in sustainable packaging, coupled with increasing consumer awareness and global anti-plastic initiatives, positions stand-up pouches as a competitive and environmentally conscious choice in the packaging industry. For instance, in July 2021, the European Union, a Europe-based economic union, banned the use of single-use plastics like balloon sticks, straws, cotton buds, and cutlery including plastic caps and closures, to reduce plastic waste and pollution. Therefore, the rising environmental concerns and regulations are driving the growth of stand-up pouches market.
Technological advancement is the key trend that is gaining popularity in the stand-up pouches market. Major companies operating in the market are focused on research and development for product innovations. For instance, in February 2021, Toppan Printing, a Japan-based company operating in packaging, décor materials, introduced Sustainable-Valuetm Packaging, a paper-based stand-up pouches combining layers of paper, sealant, and plastic film, using Toppan's unique processing technology to ensure producing the stable quality of pouch consist of paper material and heat seal varnish, an adhesive coating agent. This paper-based pouch offers outstanding environmental performance and reduces plastic consumption for the outer package and reduction in carbon-dioxide emissions associated with manufacturing by 28% compared as compared to plastic film stand-up pouches.
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Major Key Players of the Market:
Amcor plc, Berry Global Inc., Mondi plc, Sealed Air Corporation, Smurfit Kappa Group plc, Coveris Advanced Coatings (Holdings) Limited, ProAmpac Intermediate Inc., Huhtamäki Oyj, Sonoco Products Company, Bemis Company Inc., Winpak Ltd., Clondalkin Group Holdings B.V., Uflex Limited, Bischof + Klein SE & Co. KG, Glenroy Inc., Constantia Flexibles International GmbH, InterFlex Group Inc., FLAIR Flexible Packaging Corporation, Hood Packaging Corporation, Swiss Pac USA, Goglio S.p.A., Schur Flexibles Holding GesmbH, Printpack Inc., Gualapack S.p.A., Bryce Corporation, American Packaging Corporation, Astrapak Limited, Duropack Limited, Transcontinental Inc., The Dow Chemical Company
Stand-up Pouches Market 2024 Key Insights:
• The stand-up pouches market size is expected to see rapid growth in the next few years. It will grow to $36.57 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.
• Elevated Demand For Packaged Food And Beverages Drives Growth In Stand-Up Pouches Market
• Technological Advancements Transforming The Stand-Up Pouches Market
• North America was the largest region in the stand-up pouches market in 2023
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