Liquid pouch packaging market to hit $10.5B by 2024
Shifting consumer preference for convenient packing solutions is driving liquid packaging demand.
Liquid Pouch Packaging Market size will exceed USD 10.5 billion by 2024; according to a new research report by Global Market Insights, Inc.
Shifting consumer preference for convenient packing solutions due to demographics and lifestyle dynamics are key trending factors driving liquid packaging demand. High flexibility, low weight and easy to carry will remain key properties enhancing product penetration. Increase in consumer spending on energy drinks and prevalent health awareness trends will drive growth. Global energy drink spending was over USD 40 billion in 2016.
Pillow products accounted for more than 34% of the liquid pouch packaging market share in 2016. Competitive pricing along with strong consumption of dairy products including milk, curd, yogurt, and creams will drive this segment. Global dairy industry will generate revenue over USD 450 billion by 2024, with China being the major consumer.
Stand-up liquid pouch packaging market generated over USD 1.5 billion in revenue for 2016. Capability to stand upright and offer attractive aesthetic appearance for the retail shelf are key properties. Increase in product adoption among retailer’s due to easy handling and low shelf-space requirements will fuel demand.
Spout pouches are the fastest growing product owing to beneficial factors including transportation ease, handling, and ready to pour. Demand for infant spout pouches could witness over 7% gains through to 2024. Global baby food spending was over USD 50 billion in 2016. Day care centers or creche have also witnessed strong consumption for spout products owing to serving with ease facility.
Polyethylene is the widely used packing material and generated over USD 2 billion in revenue for 2016. Key properties offered by the material includes high insulation, durability, and flexibility along with stain and moisture resistance. Upward polymer price trend along with environmental regulations pertaining to material residues will impact the industry growth.
Flexible liquid pouch packaging generated over USD 5 billion revenue in 2016. Shifting preference for easy to carry products have enhanced the product demand. Moreover, the product enables ease in labeling & printing of colorful designs.
Food & beverages accounted for more than 50% of the overall industry share in 2016. Increasing consumer consciousness towards hygiene along with increased spending on ready to eat food & beverages will fuel the liquid pouch packaging market growth.
The industry has witnessed increased demand from lubricants and paint & coatings. Safe and easy transportability has positively influenced product demand in this segment.
Aseptic liquid packaging technique sales were worth over USD 3 billion in 2016. Rising demand for sterile and hygienic product packing will drive the demand. Form fill seal technology will witness more than 5.5% CAGR up to 2024. High production efficiency, fast filling along with food safety have enhanced the industry growth.
Asia Pacific liquid pouch packaging market share accounted for more than 35% in 2016. Changing income and demographic trends are leading to increased consumer spending on packaged food products will propel the industry growth.
Europe will witness over 5.6% CAGR up to 2024. Necessity for the small and convenient packing solutions due to changing lifestyles are the factors fueling the product scope. Increasing food safety awareness among consumers along with regulatory compliance will drive the regional demand.
Global industry share is fragmented due to the presence of regional manufacturers. Tetra Pak International, DOW Chemical Company, Weyerhaeuser Company, Smurfit Kappa, Mondi PLC, IMPAK Corporation, Bemis, Bischof + Klein International and Ampac are the major industry players.
Browse key industry insights spread across 800 pages with 944 market data tables & 23 figures & charts from the report, “Liquid Pouch Packaging Market Size By Product By Packaging (Rigid, Flexible), By Material (Polyester, Polyethylene, Polystyrene, Polypropylene, Aluminum, Fitments, tubes & spouts), By Product (Pillow Pouches, Stand-up Pouches, Four side seal pouches, Spout pouches), By Application (Food & beverages, Industrial application, Personal care, Home care, Pharmaceutical), By Technique (Blow molding, Form fill seal technology, Aseptic liquid packaging), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Spain, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents: