Four side flat pouch market from personal care application is anticipated to observe growth at over 7% up to 2024. Consumers tend to spend more on personal care products owing to the growing disposable income has fuelled the industry size. I
Sellbyville, DE -- (SBWIRE) -- 11/26/2018 -- With convenience being the watchword in the 21st century, it would not seem incorrect to quote that four side flat pouch market is literally ruling the business landscape of the packaging industry. Given the lightweight, low cost, and convenience these pouches offer, consumers tend to choose the same over the traditional paper, metal, glass, and even rigid packaging. The present trend of using attractive pouches, with strong vacuum finish & sealing strength, are fast taking precedence in the market.
In fact, the demand for pouches is expected to surge by a significant CAGR annually with a projected valuation exceeding USD 35 billion in 2018. Technological advancements have further left a strong impact on the growth of four side flat pouch market which has consolidated its stance across many different sectors, from dairy, snacks, pet food, to cosmetics & personal care, to medical & pharmaceutical.
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Personal care & cosmetics are the next biggest markets where four side flat pouches are gaining exceptional traction. Rising per capita income of consumers and robust demand for skin care, makeup, oral care, and hair care products have significantly enhanced the product penetration into this sector, in return drawing lucrative returns. Speaking of which, it is important to mention that four side flat pouch market size from personal care applications is expected to garner USD 1.2 billion by 2024 with an estimated growth rate of 7% over 2018-2024.
The rapid expansion of the cosmetics and personal care, pharmaceutical & F&B sectors in the Asia Pacific has further sketched a profitable growth path for the industry to expand across the emerging geographies. In the backdrop of this scenario, Japan has long been ahead of the pouch packaging trend, given the fast-paced and urban lifestyle in the local cities. In fact, the Japanese pouch-meal and pre-cut single serving vegetables and meats are world famous with regards to pioneering innovation in the consumer retail industry.
Besides the affluent countries in the region, other developing nations such as Thailand, China, and India are expected to witness strongest growth, owing to greater emphasis on convenience and eye-catchy packaging. Increased versatility and emergence of numerous companies offering competitive pricing with product innovation are also expected to leave a proportional impact on the growth prospects of Asia Pacific four side flat pouch industry. Forecast to be one of the most profitable growth grounds, estimates claim Asia Pacific four side flat pouch market to register a y-o-y growth of 7% over 2018-2024.
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Considering these above-mentioned trends, it wouldn't be wrong to quote that owing to the portability of this product particularly with respect to ease of use at home and on-the-go lifestyle, these pouches have become a requisite for retailers to stimulate the purchase of consumer foods. The environmental quotient associated with these flat pouches is also one of the significant factors propelling four side flat pouch market share.
It is important to note that pouches are comparatively thinner & smaller than glass, metal, and paper packaging and thus use 60% less plastic on an average. All the flexible & flat variety of pouches in fact have a higher product-to-package ratio than conventional rigid packaging - a factor shedding light on lower energy usage leading to lower CO2 emissions, lower fuel consumption, and reduced landfill waste. To cite an instance, the ConservaCube - four-paneled, flat-bottom pouch has won a won a Gold Award for sustainability and also for expanding the use of flexible packaging. It has also won a Sliver Award for technical innovation that offers exceptional package share retention, toughness & stiffness balance, and seal performance.
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With time being of essence, in addition to a fast-paced lifestyle, what consumers need is a plethora of options to choose from, that has been constantly addressed by the product innovation offered by industry giants. Thus, it is no more a supposition that the market is on its way to become one of the most lucrative businesses in the ensuing years. A report by Global Market Insights, Inc., claims the global four side flat pouch market to surpass USD 8 billion by 2024.