$28.9 Billion Opportunity Analysis on the Stand-up Pouches Market
March 5, 2019The stand-up pouches market is projected to grow from USD 20.1 billion in 2018 to USD 28.9 billion by 2023, at a CAGR of 7.5% during the forecast period.
The rising demand for packaged food & beverages and the need for cost-effective packaging solutions drives the demand for stand-up pouches. However, recycling of multi-layer structure and availability of substitutes are projected to inhibit the growth of the market.
In terms of value, the round bottom segment is projected to grow at the highest CAGR during the forecast period
The round bottom segment in the stand-up pouches market is projected to grow at the highest CAGR during the forecast period, in terms of value. The growth of this segment can be attributed to its high demand in the food & beverages industry, as they are durable and render high stability to the product.
Round bottom stand-up pouches are commonly used for lightweight products such as coffee, tea, sauces, and candies. They are considered ideal packaging solutions for products that weigh less than a pound. They are widely utilized in food & beverages packaging solutions due to the demand for compact and lightweight packaging solutions.
In terms of value, the aseptic segment is projected to lead the stand-up pouches market from 2018 to 2023
The aseptic segment is projected to lead in the stand-up pouches market from 2018 to 2023, in terms of value. The demand for longer shelf life, consumer appeal, and high seal integrity are some of the key factors contributing to the growth of the aseptic segment.
Aseptic stand-up pouches are manufactured using a special design filling machine, which sterilizes the inner film that protects the contents from bacteria. The increase in the adoption of aseptic stand-up pouches in ready-to-drink and dairy-based beverages is further projected to drive its demand.
In terms of both value and volume, the Asia Pacific stand-up pouches market is projected to grow at the highest CAGR during the forecast period
In terms of both value and volume, the Asia Pacific stand-up pouches market is projected to grow at the highest CAGR from 2018 to 2023.
The growth of the market in this region is attributed to the increase in disposable income of individuals, which has led to a rise in the demand for ready-to-eat products. Furthermore, the easy availability of raw materials and the increasing demand for compact packaging solutions from highly populated countries such as India and China are projected to drive the demand for stand-up pouches.
The stand-up pouches market is dominated by large players such as Amcor (Australia), Smurfit Kappa (Ireland), Bemis Company (US), Berry Global Group (US), Mondi (Austria), ProAmpac (US), Sealed Air (US), Huhtamaki (Finland), Coveris (US), and Sonoco Products Company (US).
