Growing consumption of packed and retort food as a result of shifting trends toward nuclear families will drive growth in the high-barrier pouch market within a global packaged food industry valued at $2.6 trillion in 2016. A shift in manufacturer focus toward packaging as a promotional tool rather than just protective packaging has enhanced the high-barrier pouch market size, according to a report from Global Market Insights (GMI; Ocean View, DE).
Also, innovations in packaging design to attract customers without compromising the basic purpose of packaging are key divers of growth.
Changing lifestyles and increasing disposable income, particularly in developing countries, contributed to growth. Technological advances in product design to prevent loss of moisture and retain product freshness are major factors fueling product demand. Reduced packaging material usage and lower storage and handling costs will drive the high-barrier pouches market, according to GMI.
Regulatory compliance along with the emergence of food-grade materials has enhanced the high-barrier pouches demand. However, stringent regulations on emissions along with increasing concerns about plastic waste may constrain growth.
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The standup pouches market, valued by GMI at more than $650 million in 2016, is forecast to have a value of $1+ billion by 2024. Convenience in storage and transportation, enhanced shelf appearance, and improved protection of packaged contents are all contributing factors. Excellent resistance against gases and water vapor has stimulated product scope in several applications including pet food, industrial, food and beverages.
Pouches sporting spouts
Spouted pouch packaging is the fastest growing segment with a CAGR above 6% through 2024. Advantages include ease in handling, mess-free consumption and ready-to-pour convenience.
Polyethylene high-barrier pouches market accounted for more than 25% of overall industry share in 2016. Contributing aspects include excellent water- and chemical-resistance along with tensile strength. Rising demand from homecare, personal care and industrial applications will boost demand.
Industrial applications will see gains 5%+ to 2024 due to increasing penetration of standup and spouted packaging for paints, coatings, lubricants and oils.
Five-layer barrier packaging accounts for more than 55% of total industry share in 2016. Growing adoption of protective barriers against stains, solvents and UV ray-damage including ethylene vinyl alcohol (EVOH), silicon oxide (SiOx) and aluminum oxide (AlOx) will fuel progress.
Europe’s high-barrier packaging market will be worth more than $1 billion by 2024 due to changing income trends along with an improving standard of living. A strong outlook in the pharmaceutical sector has enhanced product penetration owing to its heat resistance, acid resistance and greater shelf-life properties.
In North America revenue in the high-barrier pouches market will see gains 6.5%+ to 2024 resulting from a shift in consumer preference toward a liquid diet due to increasing health consciousness.
For more information visit www.gminsights.com/industry-analysis/high-barrier-pouches-market