Global Pouches Market 2018-2022
The pouches market is fragmented owing to the presence of several international and domestic vendors. The level of competition among the players in this marketspace is intense especially in terms of price, quality, regulatory compliance, and innovation. To attain a competitive advantage over the other players, the vendors are focusing on R&D activities. Additionally, they are also adopting competitive strategies such as product portfolio expansions and cost reduction to establish their market presence.
Technavio’s analysts forecast the global pouches market to grow at a CAGR of 6.12% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global pouches market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of pouches.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pouches Market 2018-2022
Technavio recognizes the following companies as the key players in the global pouches market: Amcor, Bemis, Coveris, Mondi Group, Smurfit Kappa Group, and Winpak
Other Prominent Vendors in the market are: Sealed Air, Sonoco, DNP, and Polymer Packaging.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is rising demand for retort pouches. Retort pouches are becoming prevalent as consumers give priority to product freshness in comparison to other aspects while making a grocery purchase. These pouches have ability to withstand thermal processing during sterilization process.”
According to the report, one of the major drivers for this market is growing demand from food packaging industry. The food processing industry needs to focus on effective packaging of food to reduce wastage and provide safe and secure packaging solutions. The global food packaging market is expected to grow. Food packaging preserves food from external factors that include chemical influences such as exposure to gases, moisture, and light; and biological influences such as exposure to microorganisms, insects and rodents.
Amcor, Bemis, Coveris, Mondi Group, Smurfit Kappa Group, and Winpak, Sealed Air, Sonoco, DNP, and Polymer Packaging.
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