Pouch Packaging Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

The pouch packaging market is estimated to be valued at USD 41,393.6 million in 2021, and it is expanded to grow at a significant CAGR of 4.6% over 2022-2028. The dairy industry is expected to create reasonable demand for the plastic pouch packaging market. India and China majorly contributed to the dairy sector. The development of bio-degradable and reusable Pouch due to stringent regulations on single-use plastics is a crucial opportunity for the market players. Sustainable packaging includes recyclable, post-consumer recycled content, compostable, bio-based materials, and reusable materials such as Polyethylene derived from bioethanol, Polylactic Acid, Micro-fibrillated cellulose, Chill Buddy, etc. An increase in the adoption of alternative packaging solutions for pouch packaging is restraining the market’s growth products. China and India are projected to lead the Asia Pacific Packing market due to rapid growth in population demand for packaged food products, a rise in disposable income, and a surge in the number of working women in the region. In addition, the rise in demand for pet food in the USA and developed economies in Europe also create opportunity for the players in the pouch packaging market. Polyethylene has a segmental share of the pouch packaging market with 33.5% (2021) share in the global market and is projected to grow at 4.5% CAGR over 2022 – 2028 owing to increased demand for polyethylene and the cost efficiency of Polyethylene.

Recent Market Developments:

In April 2021, US-based packaging, and material science company ProAmpac has launched retort Pouch with improved sustainability for human and pet food packaging. The ProActive PCR Retort Pouch were launched in response to growing demand for post-consumer recycled (PCR) packaging solutions. Each pouch features 30% or more PCR content, reducing the use of virgin resin.

In June 2021, Constantia Flexibles has closed the acquisition of Propak and is proud to welcome Constantia Propak to its global network. Being one of the leading players in the European snacks market operating out of one plant from Dücze, Constantia Propak will perfectly complement Constantia Flexibles’ packaging solutions portfolio. This acquisition elevates Constantia Flexibles to one of the main players in the European snacks market.