LOS ANGELES, April 22, 2020 /PRNewswire/ -- Acumen Research and Consulting, a global provider of market research studies, in a latest published report titled "Pouches Market (By Type: Stand-up Pouches, Flat Pouches, Roll Stock; By Material: Plastic, Metal, Paper, Bioplastics; By Treatment: Aseptic, Standard, Retort, Hot-Filled; By Application: Food, Beverage, Medical & Pharmaceuticals, Cosmetic & Personal care, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027."
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North America market is expected to account for significant revenue share in the global pouches market due to presence of major players operating in the country. In addition, increasing demand from food & beverage manufactures for pouches is expected to support the growth of target market in this region. High competition among the manufactures in the region is resulting in growing demand for flexible packaging solution. Pouches tend to be a better solution for players as they are versatile packages and provides a brand differentiation for customers.
Major players operating in the region are investing high for R&D activities in order to attract new customers with innovative product launches and focused on increasing the production capacity are factors responsible to impact the market regional market growth positively.
- In 2020, ProAmpac invested for development of Collaboration & Innovation Center (CIC) at its manufacturing facility in New York. The company is leader in flexible packaging and the development would play an important role in accelerating ProAmpac's product development, application testing and analytical capabilities.
The market in Asia Pacific is expected to witness faster growth due to increasing player's inclination towards developing countries in order to track the untapped market. In addition, increasing partnership activities between regional and international players in order to increase the customer base is expected to further support the growth of target market in this region.
Packaging plays a major for manufacturers in order to attract customers with the availability of flexible packaging solution the players can cater to the exact customer need and increase the profit ratio. Pouches provide the producer the exact benefits in order to stay ahead of the competition as they are available in required size and shape and aid in product safety. High demand for pouches from various end use industries such as pharmaceutical, cosmetic, food & beverage, etc. is a major factor expected to drive the growth of the global market.
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In addition, flourishing cosmetic industry across the globe, rising demand for pocket friendly beauty products is expected to increase demand for pouches which is another important factor expected to support the market growth. Consumer demand related to beauty products is changing. Pouches provide manufacturers the advantage to produce product with different quantity allowing consumers to buy products according to their convenience that can be stored in cupboard or other necessary places.
Major players focus towards business expansion through strategic merger and acquisition in order to increase the company presence, customer base and enhance the product portfolio this is another factor expected to support the growth of target market.
- In 2019, Sealed Air Corporation acquired Automated Packaging Systems, Inc. a leading manufacturer of high-reliability, automated bagging systems. This acquisition will help to company to strengthen its position in flexible packaging system.
However, factor such as stringent government regulation related to product approval is expected to hamper the growth of global market. Government of developed and developing countries is imposing strict regulation related to use of plastic in food & beverage products. Recyclability of the plastic product is the major issue faced by the government of developed and developing countries. In addition, availability of other packaging alternatives is expected to challenge the growth of target market.
Technological advancement by the major players and high investment for R&D activities in order to produce innovative products are factors responsible to create new opportunities over the forecast period. In addition, inclination towards developing economies due to easy availability of raw material and low cost labor is expected to further revenue support the market traction.
The global pouches market is segmented in to type, material, treatment, application. The application segment is bifurcated into food, beverage, medical & pharmaceuticals, cosmetic & personal care, and others. Among the application the medical & pharmaceuticals segment is expected to account for significant revenue share.
Players operating in the global pouches market are Bemis Company, Mondi, Sonoco, Sealed Air, Berry Global Group, Coveris, ProAmpac, Smurfit Kappa, Amcor and Huhtamaki.
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