Pouches Market worth $46.1 billion by 2024

The global Pouches Market is projected to grow from USD 36.4 billion in 2019 to USD 46.1 billion by 2024, recording a CAGR of 4.8% during the forecast period. The rising demand for packaged food & beverages is projected to drive the pouches market. The aesthetic appeal and cost-effectiveness of pouches are further projected to drive the growth of the market. Furthermore, the growing popularity of pouches for alcohol packaging is creating growth opportunities for the global pouches market.

The global pouches market is dominated by key players such as Amcor (Australia), Smurfit Kappa (Ireland), Mondi (Austria), Berry Global Inc. (US), and Sonoco (US). These players have adopted various growth strategies, such as expansions, investments, new product launches, acquisitions, mergers, partnerships, agreements, and joint ventures, to increase their market shares and enhance their product portfolios.

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The food industry is estimated to be a major consumer in the pouches market in 2019

Pouches are made of highly sterilized materials. These materials help in protecting the product from contamination, making them ideal for food, beverages, and healthcare packaging. These pouches are manufactured using multiple layered films that protect the contents from moisture, light, and odour, and preserve the freshness of food and beverages items. The key factors driving the growth of the pouches market include the increase in demand for compact & lightweight packaging solutions for baby food. In the food industry, pouches are widely used in the packaging of sauces, pet food, ready-to-eat/frozen meal, candies, chocolates, snacks, dried fruits & nuts, and confectionery products. Factors that are projected to drive the demand for these pouches in the beverage industry include protection from contamination, aesthetic appeal, and tailor-made packaging solutions, in terms of unique shapes, styles, and designs.

Asia Pacific is projected to account for the largest share in the pouches market during the forecast period

Asia Pacific is projected to dominate the pouches market during the forecast period. This is attributed to the increasing demand for compact packaging solutions from densely populated countries such as India and China. In addition, the growing population in these countries widens the customer base for FMCG products, food, and beverages, which in turn, is projected to drive the growth of the pouches market in the region. Moreover, factors such as industrialization, growing middle-class population, rising disposable income, changing lifestyles, and increasing consumption of packed food products are projected to drive the demand for pouches in the region.

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Amcor (Australia), Smurfit Kappa (Ireland), Mondi (Austria), Berry Global Inc. (US), Sonoco (US), Sealed Air (US), Huhtamaki (Finland), Constantia Flexibles (Austria), Coveris (Austria), Clondalkin Group (Netherlands), Goglio SpA (Italy), KOROZO (Turkey), ProAmpac (US), Gualapack S.p.A. (Italy), DaklaPack (Netherlands), Wipf Holding AG (Switzerland), A. Hatzopoulos S.A. (Greece), and Formika (Poland) are the key players operating in the pouches market.

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