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Global Pouch Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Global Pouch Packaging Market was valued at USD 37. 99 billion in 2021 and is expected to register a CAGR of 5. 62% over the forecast period 2022-2027. Key Highlights
New York, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Pouch Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06360539/?utm_source=GNW
The growth of the frozen packaged industry across European and American countries is expected to impact the market studied positively. For instance, according to Frozen Food Europe, Germany, France, and the United Kingdom account for more than 50% of the frozen food market in Europe. The government-mandated lockdown due to the COVID-19 pandemic has aided the sales of frozen foods in many regions and has impacted the study positively.
The key market expansion drivers include increased demand for packaged foods and beverages, expanding interest in Ready-to-Eat (RTE) food, ease of use, and affordability of pouches.
In addition, the rise in the demand for on-the-go snacks has led to the need for re-closable stand-up pouches as they offer convenience to consumers. In addition, the changing lifestyle and food preferences among the consumers, coupled with changing food technology, boost the market demand studied.
The growing consumer awareness about environmental concerns, dynamic regulatory standards, the ongoing drive for sustainability that includes replacing plastic-based packaging products with biodegradable materials, and poor recycling rate due to the lack of advanced recycling facilities are some factors challenging the market growth.
The COVID-19 pandemic has had a mixed influence on pouch packaging sales. Due to the outbreak of COVID-19, pouch packaging manufacturers are facing supply chain disruption, along with decreasing manufacturing at the site in many parts of the world. ?However, the increasing demand for medical and healthcare supplies is expected to affect the pouch packaging market positively.
Key Market Trends
Increasing Demand for Convenience and Ready-to-eat Food?
Meeting consumer demands for convenience is a significant driver for existing and new packaging technologies. The packaging industry has been experiencing fundamental shifts focused on brand experience. Demand for comfort is also a key driver of change. There is a considerable push for flexible packaging, especially pouches, owing to the convenience it provides for consumers and manufacturers; therefore, flexible packaging formats are recognized as an asset in building brand loyalty. Consumers like the ability to squish or squeeze out products from a flexible package to save space and prefer resealing products to regulate product consumption at their own pace.
The increasing rate of urbanization worldwide has resulted in a higher focus on convenience and sustainability in packaging. The healthy growth of end-users, such as fresh food, ready-to-eat food, pet food, and coffee, that require convenient packaging is projected to drive the need for producing pouch packaging. The general trend of shifting from rigid to flexible packaging to avail the benefits of convenience packaging and fit the changing lifestyles, along with the growing number of smaller households, is increasing the need for single-serve options.
In line with the growth in the number of single-person households, most consumers (especially the youth) are inclined to frequent shopping for groceries in smaller quantities as they can carry their favorite products with them wherever they move to convenience. Party-size bags of food items have become an old norm as smaller or individual-sized pouches allow consumers to feel more likely in control of portion sizes.
Moreover, the changing lifestyle of the consumer in the American and European regions has also resulted in increased demand for ready-to-eat foods. The need for ready-to-eat food is at an all-time high. With the new age working population working round the clock, and the gen-z looking for everything handy, ready-to-eat foods have emerged as the best solution.
Asia Pacific to Witness the Fastest Growth
The market is being driven by Chinese customers’ growing preference for mostly retort-packed goods to maintain their shelf stability, including fish, meat, and vegetables. Additionally, the nation’s customers are becoming increasingly accustomed to ready-made meals.
China will likely experience a considerable demand for flexible packaging goods during the forecast period due to the rapid development in demand from end-user sectors like food, pharmaceutical and medical, personal care, and domestic care. Despite the country having a sizable basis for packaging, flexible packaging nonetheless had the quickest and most significant growth among all forms of packaging due to its low cost and numerous product benefits.
Moreover, India made a significant contribution to the dairy industry. Due to strict limits on single-use plastics, market players have considerable potential to develop biodegradable and reusable pouches. Reusable materials such as Polyethylene made from bioethanol, Polylactic Acid, Micro-fibrillated cellulose, and biodegradable materials are also included in sustainable packaging.
The market’s expansion products are being constrained by a rise in the use of alternative packaging options for pouch packaging. Due to the rapidly increasing demand for packaged food goods, an increase in disposable income, and the number of working women in the country, India is predicted to have a significant part of the Asia Pacific packing industry.
Further, in August 2022, India Youth For Society (IYFS), a committed group raising awareness about plastic waste’s dangers, launched a new initiative to collect milk pouches. At Dr. V.S. Krishna Degree College, a particular push to collect these pouches got underway. According to the organization, the group gathers pouch bags for recycling. In collaboration with the Greater Visakhapatnam Municipal Corporation, IYFS set up a recycling operation at the dump. The IYFS office is convenient for disposing of unwanted milk pouches and plastic.
Competitive Landscape
The Global Pouch Packaging Market is fragmented due to the presence of several market players globally. Some major players are Bischof + Klein SE & Co. KG., Amcor Limited, Aluflexpack Group?, ProAmpac Intermediate, and Constantia Flexibles Group GmbH?, among others. The market players are expected to leverage the opportunity posed by the growth of several end-user verticals and are innovating to expand their market presence.
July 2022 - Mondi announced an investment to expand sustainable pet food packaging solutions. Mondi has announced plans to invest nearly EUR 65 million in three consumer flexible packaging plants in Europe to increase production capacity and meet customer demand for sustainable pet food packaging solutions.
May 2022 - ProAmpac acquired Specialty Packaging Inc., a family-owned manufacturer of specialty paper, film, and foil packaging products for the fast food and food services industries. With this addition, the company enhances its reach with food service customers and expands its footprint to the southern United States.
February 2022 - Coveris Management GmbH expanded its capacity at the Kufstein site of a new 5-layer-stretch-film-for-silage extrusion line. The new extrusion facility, which was recently put into full operation, continues the modernization efforts at the plant and significantly increases the production speed of stretch film for silage bales.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06360539/?utm_source=GNW
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