Hyderabad, March 13, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Global Pouch Packaging Market-2023-2028", it is expected to grow at a CAGR of 5.62%. The growth of the frozen packaged industry across European and American countries is expected to impact the market 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 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.
Packaged Foods - What is driving the growth of the Pouch Packaging Market?
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.
- They are meeting consumer demands for convenience, which 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.
- The changing lifestyle of the consumer in the American and European regions 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.
How is the growth being addressed?
The market's expansion products are being constrained by a rise in the use of alternative packaging options for a pouch packaging. Due to the rapidly increasing demand for packaged food goods, an increase in disposable income, and the increased number of working women in the country, India is predicted to hold a significant share of the Asia-Pacific packing industry.
In August 2022, the 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, the IYFS set up a recycling operation at the dump. The IYFS office is convenient for disposing of unwanted milk pouches and plastic.
Who are the key players in the Pouch Packaging Market?
The pouch packaging market is fragmented due to the presence of several market players globally. Some major players are:
- Amcor PLC
- Bischof + Klein SE & Co. KG
- Aluflexpack Group
- ProAmpac Intermediate Inc.
- Constantia Flexibles Group GmbH
- Coveris Management GmbH
- FLAIR Flexible Packaging Corporation
- Gualapack SpA
- Hood Packaging Corporation
- Mondi PLC
- Scholle IPN
- Sealed Air Corporation
- Sonoco Products Company
- Toppan Inc.
- Huhtamaki Flexible Packaging
Recent Developments in the Pouch Packaging Market:
- In September 2022 - Amcor announced a strategic investment of USD 45 million in the digitally based ePacFlexible Packaging (manufacturers of stand-up pouches, lay flat pouches, and roll stock, with a self-claimed advantage in print technology) to increase its minority shareholding in ePacHoldings LLC.
- In February 2022 - ProAmpac announced the acquisition of Belle-Pak Packaging ("Belle-Pak"), an award-winning flexible packaging product maker.
- In January 2022 - Sonoco completed the acquisition of Ball Metalpack, a producer of eco-friendly tinplate food packaging. The partnership will increase the range of eco-friendly packaging to include tinplate packaging.
Briefly, the Mordor Intelligence Pouch Packaging Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand the pouch packaging industry.
Get a glance at the: https://www.mordorintelligence.com/industry-reports/pouch-packaging-market
About Mordor Intelligence
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
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