Liquid pouch packaging market to exceed $10.5 billion by 2024
The liquid pouch packaging market size will exceed USD $10.5 billion by 2024; according to a new research report by Global Market Insights Inc. (gminsights.com).
Shifting consumer preference for convenient packing solutions due to demographics and lifestyle dynamics are key trending factors driving liquid packaging demand. High flexibility, low weight and easy to carry will remain key properties enhancing product penetration. Increase in consumer spending on energy drinks and prevalent health awareness trends will drive growth. Global energy drink spending was over USD $40 billion in 2016.
Pillow products accounted for more than 34% of the liquid pouch packaging market share in 2016. Competitive pricing along with strong consumption of dairy products including milk, curd, yogurt and creams will drive this segment. The global dairy industry will generate revenue over USD $450 billion by 2024, with China being the major consumer.
Stand-up liquid pouch packaging market generated over USD $1.5 billion in revenue for 2016. Capability to stand upright and offer attractive aesthetic appearance for the retail shelf are key properties. Increase in product adoption among retailer’s due to easy handling and low shelf-space requirements will fuel demand.
Spout pouches are the fastest growing product owing to beneficial factors including transportation ease, handling, and ready to pour. Demand for infant spout pouches could witness over 7% gains through to 2024. Global baby food spending was over USD $50 billion in 2016. Day care centers or creche have also witnessed strong consumption for spout products owing to serving with ease facility.
Polyethylene is the widely used packing material and generated over USD $2 billion in revenue for 2016. Key properties offered by the material includes high insulation, durability and flexibility along with stain and moisture resistance. Upward polymer price trend along with environmental regulations pertaining to material residues will impact the industry growth.
To read more form this report, visit https://www.gminsights.com/industry-analysis/liquid-pouch-packaging-market.