Liquid pouch packaging market growing at 7.5% CAGR until 2024

Growth stock artDemand for lightweight, easy-to-carry products, particularly among travelers and tourists, will drive an increase in the liquid pouch spout packaging market, according to a new report from Global Market Insights (GMI; Pune, India). An improved consumer experience accompanied by ease in consumption will support industry growth, while rapid urbanization and busier lifestyles will increase demand.

Simple economics and ease in handling are among the key properties fueling market growth for non-spout liquid pouch packaging. Effective storage of high- and low-viscosity fluids, including juices, lubricants and oils, shampoo and detergents, will drive the application scope. Zero leakage and puncture resistance are among the properties driving product adoption.

A move by brand owners to use eco-friendly materials along with favorable government regulations on sustainable packaging innovations will augment industry demand. A trend toward raw material cost reduction among manufacturers will fuel the product scope. However, raw material cost variations caused by fluctuating petrochemical prices may hamper growth.

GMI’s report noted that the market for liquid pouch packaging with spouts will achieve a rate of more than 6.5% compound annual growth up to 2024. Spillage-free designs and barrier protection are among the major properties driving product scope in food and beverage, pharmaceutical and industrial applications. The non-spout liquid pouch packaging market dominates the industry share. 

Food and beverage applications in the non-spout liquid pouch packaging market are valued at more than $3 billion in 2017. Shifting consumer preferences toward a processed food and fluid diet will proliferate the application scope. Extensive durability through flavor retention, nutritional value and freshness are substantial properties driving product penetration.

The 200-ml size has a dominant share in the spout liquid pouch packaging market. Its light weight and strength along with the adoption of standardized sizes in food and beverage applications will propel the segment's growth. Rising penetration in personal care and home care products, particularly for soaps and detergents, will support demand.

Three-layer laminates accounted for more than 45% of the spout liquid pouch packaging market in 2017; however, four-layer laminates are expected to see the fastest compound annual growth rate owing to increasing demand from industrial applications.

The Asia Pacific non-spout liquid pouch packaging market is expected to reach more than 2 million tons by 2024. Rising penetration of supermarkets offering discounted prices coupled with increased spending on fast-moving consumer goods will drive industry demand. The potential for increased use in food and beverage and home-care applications is among the primary drivers for regional industry growth, said GMI’s report.

Global industry share is highly fragmented owing to the presence of a large number of small businesses along with global players. Ampac, Uflex, Tetra Pak International, Sonoco, Swiss Pac and Weyerhaeuser are among the major players. Expanding distribution and sales networks coupled with research and development investments are among the vital strategies adopted by industry leaders. Other prominent companies in this space include Constantia Flexibles, Clondalkin Group, Südpack Verpackungen and Dow Chemical.

Image courtesy Stuart Miles/Shutterstock.

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