Stand-Up Pouches Market Worth 51.69 Billion USD by 2022
Stand-up Pouches Market by Type (Aseptic, Standard, Retort, Hot-filled), Form (Round Bottom, Rollstock, K-Style, Plow/Folded Bottom, Flat Bottom), Closure Type (Top Notch, Zipper, Spout), Application, and Region - Global Forecast to 2022
Northbrook, IL, United States -- (SBWire) -- 04/10/2018 --Rising demand for packaged food coupled with the cost-effectiveness of this flexible packaging solutions drives the demand for stand-up pouches. Furthermore, increase in demand from end-use industries, and aesthetic appeal of stand-up pouches further boosts its market growth.
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The round bottom segment is projected to grow at the highest CAGR during the forecast period
Based on form, the round bottom segment is projected to grow at the highest CAGR during the forecast period. This is attributed to the increasing use of round-bottom stand-up pouches for packaging lightweight products.
The spout segment is projected to be the fastest-growing closure type in the stand-up pouches market
Based on closure type, the spout segment is expected to grow at the highest CAGR between 2017 and 2022. This is attributed to its ease of opening & closing, convenience in dispensing, and increasing demand for packaging liquid products. Furthermore, the rising need for efficient packaging designs and increasing demand for stand-up pouches drive the demand for spout closures.
The Asia Pacific stand-up pouches market is projected to grow at the highest CAGR during the forecast period
Asia Pacific accounted for the largest share of the stand-up pouches market in 2016. Among all countries in the Asia Pacific region, the stand-up pouches market in China is projected to grow at the highest CAGR during the forecast period. The North American market is expected to grow at the second-highest CAGR between 2017 and 2022, with the US registering the highest growth rate in the region.
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Key players operating in the stand-up pouches market include Amcor (Australia), Bemis Company (US), Berry Global Group (US), Mondi (Austria), Sonoco (US), Sealed Air (US), Coveris (UK), ProAmpac (US), Smurfit Kappa (Ireland), and Huhtamaki (Finland). These players have adopted various growth strategies to expand their global presence and increase their market share. Mergers & acquisitions, expansions, and new product launches are some of the major strategies adopted by key players operating in the stand-up pouches market.
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