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Multi-purpose Sachets & Tear sticks Market - Industry Shares, Market Strategies And Key Players
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Multi-purpose sachets and tear sticks are not only convenient for customer but also to the manufacturer while meeting sustainable and cost efficient needs. These multi-purpose sachets and tear sticks saves up to 40% use of raw material in comparison with traditional sachet packing and significantly reduce the costs over the whole logistic chain. Multi-purpose sachets and tear sticks are ideally suited for liquid products, powder products, granulate products and chunky products. Increasing preference of customization of multi-purpose sachets and tear sticks from various industrial verticals in terms of space, capacity, and design is expected to boost the market globally by 2024 end.
Multi-purpose Sachets & Tear sticks Market- Market Segmentation:
The global multi-purpose sachets & tear sticks market is segmented on the basis of material type, by component and by end use. On the basis of material type, Multi-purpose Sachets & Tear sticks market can be segmented into paper, plastic and aluminum foil. Plastic is further segmented into Polyethylene (PE), Poly-vinyl chloride (PVC), Polypropylene (PP) and others. On the basis of filling component the global multi-purpose sachets and tear sticks market is segmented into liquid product, powder product, granulate products and chunky products. On the basis of end use, the market is segmented into food & beverages, nutritional supplements, medical & healthcare and cosmetic & beauty aid
Multi-purpose Sachets & Tear sticks Market - Market Dynamics:
One of the significant factor contributing to the growth of multi-purpose sachets and tear sticks market is the rampant growth in demand for ready to eat food and ready to drink beverages, as these products react when exposed to moisture, oxygen and sunlight. The growing preference of multi-purpose sachets and tear sticks from medical and healthcare sector in the form of single dose drug packaging is one of the key drivers for the growth of global multi-purpose sachets & tear sticks market. Furthermore, multipurpose sachets and tear stick is suitable for all types of packaging material owing to its properties such as improved moisture resistance, better conformability and easy tear.
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However, stringent packaging regulation laid down by U.S regulatory authority, as material used in multi-purpose sachets & tear sticks are considered hazardous material. Moreover, recyclability of material used for packaging are often restricted by these authorities. These factors are anticipated to restrain the demand of Multi-purpose Sachets & Tear sticks over the forecast period. Additionally, growing competition from flexible packaging is also anticipated to hamper the growth of Multi-purpose Sachets & Tear sticks over the forecast period.
Multi-purpose Sachets & Tear sticks Market - Regional Outlook
Geographically, the global multi-purpose sachets & tear sticks market is segmented into North America, Latin America, Europe, Asia Pacific (APAC) and Middle East & Africa (MEA). The global multi-purpose sachets & tear sticks market is expected to witness a significant CAGR over the forecast period of 2016-2024. Moreover, APAC is expected to dominate the multi-purpose sachets & tear sticks market, due to growing retail and pharmaceutical sector. Moreover, growing preference for ready to eat and drink food and beverages product in China and India is further expected to augment the demand for multi-purpose sachets and tear stick in APAC region. In terms of revenue generation, North America is expected to follow APAC in multi-purpose sachets & tear sticks market over the forecast period.
Multi-purpose Sachets & Tear sticks Market - Key Players:
Some of the major players identified across the globe in the Multi-purpose Sachets & Tear sticks market are Amcor Limited, Huhtamaki Inc., Constantia Flexible Ltd., Glenroy, Inc., Blue Line Labels, Turpack Makine Sanayi Ve Ticaret Ltd., Prolamina Inc.
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