Food & beverages accounted for more than 55% of the global Stand-Up Pouch Valves Market share. Shifting trend towards ready to eat food products due to changing lifestyles and food habits have enhanced the product demand.
Sellbyville, DE -- (SBWIRE) -- 10/30/2018 -- GMI presents a most up-to-date research on "Stand-Up Pouch Valves Market – Global Industry Analysis, Size, Share, By Resin (Epoxy, Polyester, Vinyl Ester), By Application (Oil & Gas, Chemicals, Wastewater Treatment, Irrigation, Water Supply) Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC) and Forecast 2017 – 2024".
Enhanced packaging features suiting all age groups, including safety and chokes resistance for children along with easy handling will propel stand-up pouch valve market. Rising consumer expenditure for convenient food packaged products owing to fast paced lifestyles will stimulate product demand.
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Widespread R&D initiatives, coupled with product innovation to improve product appeal will drive stand-up pouch valves market. Consumers are more attracted towards aesthetic packaging along with convenience for consumption. Additionally, reduced packaging material usage and better storage capacity will fuel product penetration.
Rapid urbanization and rising income levels are expected to boost global food & beverage industry and thereby, positively impacting the flexible packaging sector. As per the IMF, GDP based on PPP of Asia Pacific in 43.7% of the global share in 2016 and is anticipated to account over 48.3% in 2024. Flexible packaging has witnessed increased usage in recent years owing to its non-reactive and safer production material properties. High adoption of new packaging technologies, particularly in pharmaceutical and homecare sectors are key driving factors for stand-up pouch valves market growth.
Corner valves catered more than 75% of the overall stand-up pouch valves market in 2016. Superior features including lid closure, strong shelf life and aesthetic graphics & label are major driver factors propelling industry growth. Rising product demand from liquid products owing to their mess and spill free pouring position will also augment industry expansion.
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Form fill seal technology is expected to be worth over USD 440 million by 2024 due to its superior packaging features of filling and lidding up a package on a single machine. Modern form fill seal systems are extremely advanced consisting computer interfaces and control system networks. High speed and versatility are some of the key benefits propelling technology demand.
Stand-up pouch valves market with aluminum seal accounted for over 35% of the industry share in 2016. Introduction of high performance barrier capabilities enabling efficient protection of product from air and moisture will support product penetration. Increasing demand for hygienic sealing as regulated by various governing bodies will further propel industry.
Food & beverages are expected to register growth rate over 6.5% up to 2024 due to increasing consumer spending and expanding food & beverage industry. Efficient packaging features comprising attractiveness and freshness will also drive product demand. Increasing demand for packaging of liquid products, baby food, viscous & pasty products will foster stand-up pouch valves market.
Asia Pacific was valued more than USD 150 million in 2016 owing to the rapid increase in population and consumption of ready-to-eat (RTE) products. Shifting consumer buying preference towards convenient, small sized packaging, and cost-efficient products will further stimulate stand-up pouch valves market expansion.
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Global stand-up pouch valves market is extremely fragmented owing to the large presence of multinational and regional organizations. Some of the key industry players include Smurfit Kappa, Amcor, Gualapack Group, Swisspack, Pacificbag and Scholle IPN. Other prominent stand-up pouch valves market players are Edelpa, Falakpack, Menshen, Liqui-Box and Wilk Group.