Liquid Pouch Packaging Market to Surpass $10.5 Billion by 2024
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The industry growth report Liquid Pouch Packaging Market Size 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 [Infant food, Liquid, Viscous, Pasty], Industrial [Lubricants, Fluids, Paints & Coatings], Personal Care [Liquid Soap, Shampoo], Homecare [Liquid Detergent, Softener], Pharmaceuticals [Creams & Gels, Syrups]), By Technique (Blow Molding, Form Fill Seal, Aseptic), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Spain, China, India, Japan, Australia, South Korea, Malaysia, Indonesia, Thailand, Mexico, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Price Trend, Competitive Market Share & Forecast, 2017 - 2024, by Global Market Insights Inc., Ocean View, Del., USA, says that the Liquid Pouch Packaging Market will exceed $10.5 billion by 2024
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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.
An increase in consumer spending on energy drinks and prevalent health awareness trends will drive growth. Global energy drink spending was more than $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, yoghurt, and creams will drive this segment. Global dairy industry will generate revenue of more than $450 billion by 2024, with China being the major consumer.
The stand-up liquid pouch packaging market generated more than $1.5 billion in revenue for 2016. Capability to stand upright and offer attractive aesthetic appearance for the retail shelf are key properties. An 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 due to beneficial factors including transportation ease, handling, and ready to pour. Demand for infant spout pouches could witness more than 7% gains through to 2024. Global baby food spending was more than $50 billion in 2016. Day care centers or crèche have also witnessed strong consumption for spout products owing to serving with ease facility.
Polyethylene is the widely used packing material and generated more than $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.
Browse key industry insights spread across 800 pages with 944 market data tables and 23 figures and charts from the report, in detail, along with the table of contents.
Flexible liquid pouch packaging generated more than $5 billion revenue in 2016. Shifting preference for easy to carry products has enhanced the product demand. Food and 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 and beverages will fuel the liquid pouch packaging market growth.
The industry has witnessed increased demand from lubricants and paint and coatings. Safe and easy transportability has positively influenced product demand in this segment.
Aseptic liquid packaging technique sales were worth more than 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.
The 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 more than 5.6% CAGR up to 2024. Necessities for the small and convenient packing solutions due to changing lifestyles are 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 Co., Weyerhaeuser Co., Smurfit Kappa, Mondi PLC, IMPAK Corp., Bemis, Bischof + Klein International, and Ampac are the major industry players.
