Global Stand-Up Pouches Market To Expand At A Notable CAGR Of 7% During The Forecast Period 2023
Overview
The expansion of packaging industry is leading to the development of innovative packaging solutions in the global market. The report published by Market Research Future (MRFR) states that the global stand-up pouches market is marked to exhibit notable expansion at a CAGR of 7% during the forecast period of 2016-2022.
Increasing popularity of packaged food and beverages in the urban areas of developed and developing region as a result of changing lifestyles and dietary habits of the population in these regions and growing preference for ready to consume food products are majorly propelling the growth of the global stand up pouches market.
Increased demand for flexible packaging in various industries such as food and beverages, pharmaceuticals, cosmetics, personal care,
consumer electronics and others is also aiding the expansion of the global stand-up pouches market. Proliferation in government campaigns to promote awareness regarding the utilization of recyclable packaging materials and recent innovations in packaging industry are resulting in the expansion of the global stand-up pouches market. The benefits of stand-up pouches such as they require less raw materials for their manufacturing, they provide high flexibility to the packaging and light weight are promoting the utilization of stand-up pouches for various packaging purposes, leading to the expansion of the global stand-up pouches market. However, concerns regarding the durability of stand-up pouches and leakage issues are restraining the growth of the global stand-up pouches market during the assessment period.
Segmental Analysis
The global stand-up pouches market has been segmented on the basis of material, type, and application. Based on material, the global stand-up pouches market has been segmented into plastic, metal, paper, and others. Based on type, the global stand-up pouches market has been segmented into aseptic, standard, and retort. Based on application, the global stand-up pouches market has been segmented into food & beverages, healthcare, personal care, and others.
Regional Analysis
Geographically, the global stand-up pouches market has been segmented into four major regions such as Asia Pacific, Europe, North America and the rest of the world. The Asia Pacific region commands for the major share of more than 60% in the global stand-up pouches market owing to the increased production of innovative packaging in the rapidly expanding packaging industry, increased demand for ready to consume food products and increased disposable income of the population of the emerging economies in this region. Increased consumption of packaged food, changing lifestyle and dietary habits, and rapid incorporation of advanced technology in manufacturing and packaging industries are propelling the growth of the stand-up pouches market in the North America region. Increased research for the development innovative packaging options and focus towards introducing recyclable packaging are fueling the growth of the stand-up pouches market in the Europe region.
Key Players
Some of the prime players profiled by Market Research Future (MRFR) that are operating in the global stand-up pouches are Amcor Ltd. (Australia), The Dow Chemical Company (the U.S.), Berry Plastics Corporation(the U.S.), Smurfit Kappa Group (Dublin), Ampac Holdings LLC (the U.S.), Clondalkin Group (Netherlands), Sealed Air Corporation (the U.S.), Astrapak Limited (South Korea), Bemis Company, Inc. (the U.S.), Coveris Holdings S.A. (the U.S.), Mondi Plc. (Austria), Sonoco Products (the U.S.) and others.
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