Liquid Pouch Packaging Market to Grow at 7.5% CAGR to 2024
According to a new research report by Global Market Insights Inc., the spout & non-spout liquid pouch packaging market is estimated to surpass U.S. $10 billion by 2024. Necessity for lightweight and easy to carry products will drive the spout liquid pouch packaging market size. Improved consumer experience accompanied by ease in consumption and stain-free properties will support growth.
Superior economic viability along with ease in handling are top characteristics propelling the non-spout liquid pouch packaging market growth. Effective storage of high viscous and low viscous fluids including juices, lubricants & oils, shampoo and detergents will drive the application scope. Zero leakage and puncture resistance are a couple of characteristics driving product adoption.
Inclination toward eco-friendly materials along with favorable government regulations on sustainable packing innovations will push demand as well.
Spout liquid pouch packaging market will witness CAGR at over 6.5% up to 2024. No spill along with high protection layering are among key points in food & beverage, pharmaceutical and industrial applications. Non-spout liquid pouch packaging market dominates the industry share. Design flexibility along with product innovations are among a couple factors fueling the growth.
Food & beverage applications in non-spout liquid pouch packaging market was valued over U.S. $3 billion in 2017. Shifting consumer preferences towards processed food and fluid diet due to increasing health awareness will proliferate the application scope. Extensive durability through flavor retention, nutritional value and freshness maintenance are substantial properties driving product penetration.
200 ml size exhibited a dominating share in the spout liquid pouch packaging market share. High application scope owing to light weight, compatible strength along with adoption of standardized sizes in food & beverage applications will propel the segment growth. Rising penetration in personal care and home care segments particularly for soaps & detergents will support the product demand.
Three-layer laminates accounted for over 45% in the spout liquid pouch packaging market in 2017. Ease in high-quality design printing on film surface will supplement the segment demand. High application scope in food & beverage applications due to enhanced shelf life will support the product demand. However, four-layer laminates are expected to witness the fastest CAGR owing to increasing demand from industrial applications.
In Asia Pacific, non-spout liquid pouch packaging market is anticipated to see more than 2 million tons by 2024. Rising penetration of supermarkets offering discounted prices coupled with increasing consumer spending on FMCG products will drive demand.