Polyethylene accounted for around 50% of the overall four side flat pouch market share in 2017. High flexibility, superior thermal & chemical resistivity along with enhanced insulation properties are among key factors driving the polyethylene demand.
Sellbyville, DE -- (SBWIRE) -- 02/26/2019 -- Advancement in packaging industry to retain product freshness, convenience to carry, efficient sealing strength, and flexibility will enhance the four side flat pouch market growth. Also, other potential factors such as light weightiness and cost effectiveness will propel the industry demand.
Increasing consumption for fast food and ready to cook packaged food will remain the key factors driving four side flat pouch demand. The innovation in packaging industry to improve product shelf life along with increase in consumer disposable income in developed regions will propel the business growth. Rising demand for frozen foods and take away products will have a positive impact on product penetration.
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According to a new research report by Global Market Insights, Inc. Global Four Side Flat Pouch Market size is estimated to exceed USD 8 billion by 2024.
Growing product popularity in pharmaceutical sector to defend medicine from moisture and contaminants will enhance the four side flat pouch demand. However, stringent government regulations towards polymer usage may hinder the industry growth. The changing raw material prices such as polyethylene and polypropylene will impact the four side flat pouch price trend.
Polyethylene material will witness around 5.4% CAGR up to 2024. High elongation, heat seal-ability, softness, clarity and low production cost will encourage material usage in packaging industry. Also, high flexibility, efficient chemical & thermal resistivity are the key factors fueling the product penetration.
Personal care sector will surpass USD 1.2 billion revenue by 2024. Growing personal care products demand owing to increasing consumer affordability will offer lucrative opportunity to the flexible packaging industry.
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Pharmaceutical sector is anticipated to observe growth at over 4.5% up to 2024. Increasing medicines demand along with trend of globalization in pharmaceutical industry required long lasting and durable packaging. Protection from degradation, counterfeiting, physical damage and biological contamination will favor the industry growth.
Aluminium accounted for around 15% of the overall business share in 2017. Owing to its non-toxicity and heat reflectivity properties, aluminium is considered to be an appropriate packaging material in pharmaceuticals industry.
U.S. four side flat pouch market will witness CAGR over 5% up to 2024. Increase in travelling frequency along with growth in tourism industry are creating preferences for small packages, which in turns instigating demand for flexible packaging.
Asia Pacific four side flat pouch market accounted for over 36% of the industry share in 2017. Increasing demand for packaged goods and preference for packaged food ingredients and product are enhancing regional demand. Rise in demand for plastic packaging over conventional boxes and metal cans in urban areas will enhance the four side flat pouch demand.
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SN Maschinenbau GmbH, Swiss Pac, Dow Chemical Company and Smart Pouches are among the major the four side flat pouch market players. Other notable players in terms of product offering and geographic coverage include Frain Group, Sonoco, Pakona, Ampac, Smurfit Kappa, Fresco and Coffeebags. Strategic investment in R&D, joint ventures, mergers and acquisitions, new product launches and supply agreements are widely observed among manufacturers. For instance, in 2018, Sonoco has acquired Highland Packaging Solutions to expand its business in dairy products and fresh produce packaging.