Liquid Pouch Packaging Expected to Reach $10 Billion by 2024
The liquid pouch packaging market will exceed U.S. $10.5 billion by 2024, according to a new report by Global Market Insights Inc. (gminsights.com).
Shifting consumer preference for convenient packing solutions due to demographics and lifestyle dynamics are key trends driving liquid packaging demand. High flexibility, low weight and easy to carry will remain the top 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 U.S. $40 billion in 2016.
Pillow products accounted for more than 34 percent 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. Global dairy industry will generate revenue over $450 billion by 2024, with China being the major consumer.
Stand-up liquid pouch packaging market generated over U.S. $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 see over 7 percent gains through to 2024. Global baby food spending was over U.S. $50 billion in 2016. Day care centers have also witnessed strong consumption for spout products owing to serving with ease facility.
Food & beverages accounted for more than 50% of the overall industry share in 2016. Increasing consumer consciousness towards hygiene along with increased spending on ready to eat food & beverages will fuel the liquid pouch packaging market growth.
Aseptic liquid packaging technique sales were worth over U.S. $3 billion in 2016. Rising demand for sterile and hygienic product packing will drive the demand. Form fill seal technology will witness more than 5.5 percent CAGR up to 2024. High production efficiency, fast filling along with food safety have enhanced the industry growth.