Global Pouches Market 2020-2024 | Increasing Initiatives to Promote Sustainable Packaging to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 21, 2019--
The global pouches market size is expected to post a CAGR of over 6% during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global pouches market 2020-2024. (Graphic: Business Wire)
Several factors including the growing penetration of the Internet, increased online retailing, and the availability of quick shipping, and customization of products is leading to an increase in the growth of E-commerce companies. The e-commerce industry uses a wide range of packaging materials for the safe and secure delivery of products. This has further encouraged companies to use flexible packaging materials such as pouches to prevent any damage to the products. Thus, the increasing expansion of the e-commerce consumer base and high penetration of e-commerce companies is anticipated to drive the demand for pouches during the forecast period.
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As per Technavio, increasing vendor initiatives to promote sustainable packaging will have a positive impact on market growth over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Pouches Market: Increasing Vendor Initiatives to Promote Sustainable Packaging
Growing environmental concerns are encouraging government organizations to shift their focus toward mandating sustainable packaging. End-user industries including medical, food and beverages, and personal care sector are also deploying sustainable packaging solutions. Furthermore, there has been an increasing demand for biodegradable plastic products from the industrial and consumer goods applications. This is further leading polymer manufacturers to develop innovative products such as pouches to cater to the large target audience. Thus, rising initiatives from vendors to promote sustainable packaging will drive the global pouches market growth during the forecast period.
“Other factors such as increasing penetration of intelligent packaging technology, and rising focus on improving the shelf life of products will boost the pouches market growth during the forecast period, ” says a senior analyst at Technavio.
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Pouches Market: Segmentation Analysis
This market research report segments the pouches market by type (flat pouches, stand-up pouches, spout pouches, and others) and geography (APAC, Europe, MEA, North America, and South America).
APAC led the market in 2019, followed by North America, Europe, South America, and MEA respectively. This can be attributed to the rapid expansion of end-user industries such as e-commerce, FMCG, and personal care. In addition, various vendors are increasing their geographic presence by establishing new packaging productions sites in the emerging economies of APAC..
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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INDUSTRY KEYWORD: PACKAGING MANUFACTURING
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 11/21/2019 09:00 PM/DISC: 11/21/2019 09:00 PM