The global stand up pouch market is expected to observe a healthy growth in the near future. It is expected to surge at a CAGR of 5.4% during the forecast years 2018 to 2026, elucidates an upcoming Transparency Market Research (TMR) report. It is also foretold that the stand-up pouch market is anticipated to reach staggering revenue in the future.
The demand for attractive packaging to attract customers from various end users industries is anticipated to drive the growth in the global stand up pouch market.
Further, the report also shares some insights about the major players operating in the global stand- up pouch market. Some of them include Mondi Group, Glenroy, Inc., Sonoco Products Company, Amcor Ltd., and Coveris Holdings S.A.
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Among the product type, the global stand- up pouch market aseptic stand up pouches is likely to register a higher growth over the forecast period. The growth in this segment is due to rising demand for hygienic packaging.
Rising Demand for Packaged Food to Promote Global Stand- Up Pouch Market
Due to fast paced life in urban areas, the demand for convenience and packaged food are increasing. This is one of the many factors that expand the global stand up pouch market in the succeeding years.
The companies opt for marketing strategies to attract the consumers and packaging tops the list in such practices. They look for attractive, hygienic, and durable pouches, pushing the expansion of the global stand up pouches.
Additionally, the rising demand for sustainable and environmental friendly solutions for packaging are expected to boost the global stand up pouch market in the upcoming years.
Further, these pouches are easy to handle, mess free, and easy to carry during the transit, thus, making them a desirable product for packaging. Lately, beverages such as juices, buttermilk, etc. also have started using stand up pouches due to the convenience that it offers.
The accessibility to alternative packaging such as metals, tins, and corrugated boxes are projected to dampen the global stand up pouches market during the forecast period. However, the rising demand for various consumer goods industries are projected to provide the growth opportunities to the global stand up pouches in the upcoming years.
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Round Bottom Segment to Strengthen Global Stand- Up Pouch Market
The large amount of demand for stand up pouches comes from food and beverages industry. Round bottom segment from a design perspective is likely to dominate the global stand up pouch market. The reason for increased demand for this kind of design is due to its features such as light weight, durability, and free from chances of contamination are projected to lead the market towards expansion in the next few years. It is also known as doyen stand up pouch, largely used in packing sauces, tea leaves, coffees, and chocolates.
On the basis of geography, the Asia Pacific is foreseen to hold the larger share in the global stand –up pouch market. The growth here can be attributed to increasing population and rising demand for consumer goods and food and beverages. Rising disposable income, changing lifestyle, rapid industrialization, and swift urbanization are some of the factors that are expected to push this region towards a healthy growth in the global stand up pouch market. Developing economies such as India and China are projected to be the major contributor in the expansion of the stand-up pouch market in the next few years.