Convenience, portability support liquid pouch packaging gains.
New report forecasts 7.5% CAGR through 2024 for spouted and non-spouted liquid pouches.
Walk through the aisles of your favorite grocery store and you're likely to spot ever-more varieties of flexible pouches containing everything from baby foods to household cleaners to automotive products.
According to Global Market Insights' new report, Spout & Non-Spout Liquid Pouch Packaging Market, this market will rise at an impressive 7.5% CAGR and surpass $10 billion by 2024.
Behind the growth in the non-spouted category are the following consumer convenience factors:
* The necessity for lightweight and easy-to-carry products, particularly among travelers and tourists
* Ease of consumption
* Rapid urbanization and busier lifestyles enhancing the processed food demand
* Effective storage of high-viscous as well as low-viscous fluids including juices, lubricants and oils, shampoo, and detergents
* Zero leakage and puncture-resistance
* Inclination towards eco-friendly materials along with favorable government regulations on sustainable packaging innovations
* Shifting trend towards raw material cost reduction
The report cites raw material cost variations due to fluctuating petrochemical prices as a growth deterrent.
Meanwhile, GMI predicts the spouted liquid pouch packaging market will witness CAGR above 6.5% through 2024. No spillage along with high-protection layering are among major drivers in food and beverage, pharmaceutical, and industrial applications for these pouches.
Among the more notable overall report findings were the following:
* Non-spout liquid pouch packaging market dominates the industry share
* Extensive durability through flavor retention, nutritional value, and freshness maintenance are substantial positive pouch properties
* The 200-mL size dominates spout liquid pouch packaging market share.
* Rising penetration in personal care and home care segments particularly for soaps and detergents
* Three-layer laminates accounted for over 45% in the spout liquid pouch packaging market in 2017
Jim ButschliFeatures Editor Byline: Jim Butschli Features Editor
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|Date:||Dec 18, 2018|
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