Spout & Non-Spout Liquid Pouch Packaging Market to exceed $10 billion by 2024
Published Date: August 13, 2018 Authors: Kunal Ahuja, Amit Rawat
According to a new research report by Global Market Insights, Inc., the Spout & Non-Spout Liquid Pouch Packaging Market size is estimated to surpass USD 10 billion by 2024. Rapid urbanization along with busier lifestyles enhancing the processed food demand will support the product scope.
Necessity for light weight and easy to carry products particularly among travelers and tourists will drive the spout liquid pouch packaging market size. Improved consumer experience accompanied by ease in consumption and stain free properties will support the industry growth..
Inclination towards eco-friendly materials along with favorable government regulations on sustainable packing innovations will augment the industry demand. Shifting trend towards raw material cost reduction among manufacturers will fuel the product scope. However, raw material cost variations due to fluctuating petrochemical prices may hamper the spout & non-spout liquid pouch packaging market growth.
Browse key industry insights spread across 500 pages with 630 market data tables & 12 figures & charts from the report, “Spout & Non-Spout Liquid Pouch Packaging Market Size By Type (Spout, Non-Spout), By Application (Food & Beverages [Infant Food, Liquid, Viscous, Pasty Products], Industrial [Lubricants, Fluids, Paint & Coatings], Personal Care [Soap, Shampoo], Home Care [Detergent, Softeners], Pharmaceutical [Creams & Gels, Syrups]), By Size (100 ml, 200 ml, 350 ml, 500 ml, 750 ml, 1 litre), By Laminates (Two Layers, Three Layers, Four Layers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
Spout liquid pouch packaging market will witness CAGR at over 6.5% up to 2024. No spillage along with high protection layering are among major properties driving product scope in food & beverage, pharmaceutical, and industrial applications. Non-spout liquid pouch packaging market dominates the industry share. Design flexibility along with product innovations are among key factors fueling the spout & non-spout liquid pouch packaging market share.
Food & beverage applications in non-spout liquid pouch packaging market was valued over USD 3 billion in 2017. Shifting consumer preferences towards processed food and fluid diet due to increasing health awareness will proliferate the application scope. Extensive durability through flavor retention, nutritional value and freshness maintenance are substantial properties driving product penetration.
200ml size exhibited a dominating share in the spout & non-spout liquid pouch packaging market share. High application scope owing to light weight, compatible strength along with adoption of standardized sizes in food & beverage applications will propel the segment growth. Rising penetration in personal care and home care segments particularly for soaps & detergents will support the product demand.
Three-layer laminates accounted for over 45% in the spout & non-spout liquid pouch packaging market in 2017. Ease in high quality design printing on film surface will supplement the segment demand. High application scope in food & beverage applications owing to enhanced shelf life will support the product demand. However, four-layer laminates are expected to witness the fastest CAGR owing to increasing demand from industrial applications.
Asia pacific is anticipated to report more than 2 million tons by 2024. Rising penetration of supermarkets offering discounted prices coupled with increasing consumer spending on FMCG products will drive the industry demand. Potential food & beverage and home care market is among primary driver for regional spout & non-spout liquid pouch packaging market growth.
Global spout & non-spout liquid pouch packaging industry share is highly fragmented owing to presence of large number of unorganized small-scale players along with global players. Ampac, IMPAK Corporation, Uflex, Tetra Pak International, Sonoco, Swiss Pac, and Weyerhaeuser Company are among major players. Expanding distribution and sales network coupled with research & development investments are among vital strategies adopted among industry players. Other prominent players include Constantia Flexibles, Clondalkin Group, Südpack Verpackungen, Cellpack, Huhtamaki Oyj, DOW Chemical Company, and Smurfit Kappa.