Pune, Feb. 01, 2022 (GLOBE NEWSWIRE) -- The global stand-up pouches market size is expected to gain momentum exhibiting a CAGR of 7.73% between 2019 and 2026. Factors such as increasing demand for sustainable packaging and rising preference for packaged food products is likely to propel the market growth during the forecast period. The reports further mention that the market was worth USD 11.13 billion in 2018 and is projected to reach USD 20.12 billion by 2026.
Stand-up pouches have a long dating history as Louis Doyen, the CEO of Thimonnier, the French machine manufacturing company invented them in 1963. They are typically made of multiple layers of plastic, while the primary raw material used in their manufacturing is a polyethylene resin. Additionally, the resin involves granules of polyethylene that is considered the most common form of thermoplastic. Furthermore, they are new-age packaging options that are manufactured with several standard procedures and include tear notches, bottom gussets, hang holes, and re-closable zippers, among others.
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Drivers and Restraints:
Increasing Demand for Sustainable Packaging to Promote Growth
There is a huge demand for sustainable products that are recyclable, have lower operating costs, durable, and longer shelf life in the packaging industry. Stand-up pouches are flexible and light in weight that are manufactured from complete recyclable materials. Additionally, they being eco-friendly and extremely durable are gaining prominence in the packaging industry. Furthermore, increasing demand for sustainable products is likely to drive the global stand-up pouches market share during the forecast period. For instance, in May 2020, Accredo Packaging received the People’s Choice award at the Sustainability Innovation Awards program organized by Plastic Industry Association (PLASTICS). The company designed a complete polyethylene and fully recyclable stand-up pouch, AccredoFlex RP Gen2, which consists of over 25% of bio-based resin. Moreover, it is manufactured using wind and solar energy.
Segmentation and Scope:
| ATTRIBUTES | DETAILS |
| Study Period | 2015-2026 |
| Base Year | 2018 |
| Forecast Period | 2019-2026 |
| Historical Period | 2015-2017 |
| Unit | Value (USD billion) and Volume (Billion Units) |
| Segmentation | By Type
|
By Materials
| |
By Closure Type
| |
By Application
| |
By Geography
|
Top-Notch Segment to Witness Significant Growth
The Top-Notch segment based on (by closure type) is likely to gain momentum owing to its adoption in wide applications during the forecast period. The top-notch pouches are suitable to pack coffee beans, store dry fruits, and ensure long shelf life of nuts and cookies. Spout pouches segment, on the other hand, will witness significant growth owing to demand for water, juices, and daily liquid soaps across the globe.
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Regional Analysis:
North America to Remain Dominant; High Demand for Ready-to-Eat Products to Surge Demand
Among the regions, North America was worth USD 1,299.45 million in 2018 and is likely to register highest global stand-up pouches market revenue during the forecast period. This is ascribable to factors such as high-demand for ready-to-eat food products owing to hectic lifestyle among the population. Europe, on the other hand, is anticipated to witness exponential growth backed by increasing launch of novel products by the manufacturers in the region. The market in the Asia-Pacific is expected to witness significant growth owing to increasing demand from food processing industry and rising retail market between 2019 and 2026.
List of the Key Companies Operating in the Stand-up Pouches Market are:
- Amcor plc
- Mondi plc
- Sealed Air Corporation
- The Smurfit Kappa Group plc
- Bemis Company, Inc.
- Sonoco Products Company
- Coveris
- ProAmpac
- Huhtamäki Oyj
- Berry Global, Inc.
- Others
Competitive Landscape:
Product Expansion Strategies by the Companies to Aid Growth
Fortune Business Insights through its detailed analysis reports that the market is fiercely competitive and the companies operating are striving to gain major chunk of the global stand-up pouches market share during the forecast period. For instance, in May 2020, Parikh Flexibles, a part of the Constantia Flexibles Group consortium, announced its purchase of Expert K5 1350mm machine that will be installed at the Ecoflex facility in Ahmedabad, India. According to the company, the machine is capable of manufacturing fully recyclable and sustainable packaging solution as an efficient replacement for aluminum foil.
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Have a Look at Related Research Insight:
Plastic Container Market Size, Share & Industry Analysis, By Material (PET, PP, HDPE, LDPE, and Others), By Container Type (Bottle & Jars, Pails, Tubs, Cups & Bowls, and Others), By End-Use (Beverages, Food, Pharmaceuticals & Cosmetics, FMCG, and Others), and Regional Forecast, 2019-2026
Plastic Compounding Market Size, Share & Industry Analysis, By Type (Polyethylene, Polypropylene, Poly Vinyl Chloride, Polystyrene, Polyethylene, Polybutylene Terephthalate, Polyamide, Polycarbonate, Acrylonitrile Butadiene Styrene, and Others), By Application, and Regional Forecast, 2019-2026
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