Selbyville, Delaware, Aug. 02, 2021 (GLOBE NEWSWIRE) -- According to the report published by Global Market Insights Inc., the liquid pouch packaging market is slated to hit USD 13.5 billion by 2027, registering a CAGR of 6.5% from 2021 to 2027. The report provides an in-depth analysis of the market size & estimations, wavering market trends, drivers & opportunities, competitive scenario, major investment pockets, and top winning strategies.
The market for liquid pouch packaging is driven by shifting consumer preferences and the rise in demand for packaged foods, pharmaceuticals, and personal care products. The market will certainly benefit from the global eCommerce boom. Liquid pouch packaging is convenient and easy to handle is widely preferred by consumers and will witness strong demand over the forecast period 2021-2027.
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Personal care applications would grow at a 7% CAGR through the analysis timeframe. This growth would be led by changing consumer lifestyles and increasing household income levels. Increasing consumer demand for premium-quality personal care products with convenient packaging will be a key determinant driving the liquid pouch packaging market segment growth.
Based on technique, aseptic packaging accounted for more than 50% market share in 2020 and should witness strong growth during the analysis timeframe. The growth can be attributed to the robust demand for aseptic packaging across the food and pharmaceutical sectors.
Key reasons for liquid pouch packaging market growth
- Strong demand in personal care applications.
- Growing preference for polypropylene packaging.
- Expanding personal care sector in Europe.
2027 forecasts show the ‘polypropylene’ segment retaining its dominance
Liquid pouch packaging market share from polypropylene could exceed a valuation of USD 4 billion by the end of 2027. Polypropylene resins offer high melting points and superior chemical resistance, making them suitable for the packaging of hot-fill liquids. Additional benefits include low vapor transmission and translucency.
Europe to continue its top status in terms of revenue
By geography, Europe could reach USD 4.5 billion in terms of valuation by 2027. The regional demand is mainly driven by consumer preference for convenient and easy-to-handle goods. Rising personal care and confectionery demand will also foster regional growth.
Impact of COVID-19 pandemic on the liquid pouch packaging market
The COVID-19 pandemic has created positive opportunities for liquid pouch packaging manufacturers due to the surge in the demand for liquid hand wash products. Since the outbreak of the pandemic, consumer focus on health and hygiene has increased significantly. Due to the burgeoning demand, numerous countries even witnessed a shortage of hand wash products. As a result, manufacturers were seen ramping up liquid hand soap production, driving the demand for a liquid pouch packaging.
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Leading market players
The key market players analyzed in the liquid pouch packaging industry report include DOW, Bemis, Tetra Pak International, Billerudkorsnas AB, Smurfit Kappa, and IMPAK Corporation. Industry players are focused on product development, merger & acquisition, strategic partnership & joint venture, and R&D investment strategies over the long run.
About Global Market Insights Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level, and cross-sectional statistics that make our offering a stand-out for decision-makers.