Pouches Market by Type and Geography - Forecast and Analysis 2020-2024
Global Pouches Market: About this market
Technavio’s pouches market analysis considers sales from flat pouches, stand-up pouches, spout pouches, and other types. Our study also finds the sales of pouches in APAC, Europe, MEA, North America, and South America. In 2019, the flat pouches segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as economical packaging solutions will play a significant role in the flat pouches segment to maintain its market position. Also, our global pouches market report looks at factors such as the rising focus on improving shelf life of products, growth in e-commerce industry, and increasing demand for logistics and warehousing. However, volatility in raw material prices, increasing focus on reducing the use of plastics packaging, and stringent regulations on manufacturing plastic pouches may hamper the growth of the pouches industry over the forecast period.
Global Pouches Market: Overview
Growth in the e-commerce industry
Several factors including the growing penetration of the Internet increased online retailing, and the availability of quick shipping and customization of products is leading to an increase in the growth of E-commerce companies. The e-commerce industry uses a wide range of packaging materials for the safe and secure delivery of products. This has further encouraged companies to use flexible packaging materials such as pouches to prevent any damage to the products. Thus, the increasing expansion of the e-commerce consumer base and high penetration of e-commerce companies will lead to the expansion of the global pouches market at a CAGR of over 6% during the forecast period.
Increasing vendor initiatives to promote sustainable packaging
Growing environmental concerns are encouraging government organizations to shift their focus toward mandating sustainable packaging. End-user industries including medical, food and beverages, and the personal care sector are also deploying sustainable packaging solutions. Furthermore, there has been an increasing demand for biodegradable plastic products from industrial and consumer goods applications. This is further leading polymer manufacturers to develop innovative products such as pouches to cater to the large target audience. Thus, rising initiatives from vendors to promote sustainable packaging will drive the global pouches market growth during the forecast period.
For the detailed list of factors that will drive the global pouches market during the forecast period 2020-2024, click here.
With the presence of several major players, the global pouches market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading pouches manufacturers, that include 3M Co., Amcor Plc, Berry Global Group Inc., Coveris Management GmbH, Huhtamäki Oyj, Mondi Group, Sealed Air Corp., Smurfit Kappa Group Plc, Sonoco Products Co., and Winpak Ltd.
Also, the pouches market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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