The global stand-up pouches market size is expected to reach USD 20.12 billion by 2026, due to the increasing demand for packaged food and beverage products worldwide. Also known as doypack, stand-up pouches are flexible packaging, which has a base below for standing capability. They often used for ready-to-drink beverages and are considered as an alternative to traditional industrial canning methods. A recently published report by Fortune Business Insights™ provides a 360-degree overview of the market. It is titled, “Stand-up Pouches Market Size, Share & Industry Analysis, By Type (Aseptic Pouches, Standard Pouches, Retort Pouches, and Others), By Materials (Plastics, Foils, Paper), By Closure Type (Top-notch, Spout, and Zipper) By Application (Food, Beverages, Beauty & personal care, Dogs & Cats food, Homecare Products and Others), and Regional Forecast, 2019-2026.” According to this report, the market was USD 11.13 billion in 2018 and will exhibit a CAGR of 7.73 % during the forecast period set between 2019 and 2026.
Report Highlights
Market Drivers
Rising Popularity of on-the-go Snacking is Augmenting Growth
Increasing demand for snack food items is a significant factor in promoting the stand-up pouches market growth. This, coupled with the increasing demand for on-the-go snacking that can be re-sealed, is also aiding to the expansion of the market.
On the contrary, stand-up pouches do not provide grip, and thus in case the quantity of the product inside the pouch decreases, the pouch loses its ability to stand straight and may often spill the entire content. This may act as a significant market restraint and cause hindrance to the market in the long run. Nevertheless, the rising trend of replacing metal cans containing beverages with stand-up pouches containing beverages is expected to augment the growth of the market.
Regional Segmentation:
North America Dominated Market with High Demand from Food Industry
North America earned USD 1,299.45 million in 2018 and emerged as the region with the largest stand-up pouches market share. This is attributed to the rising popularity of packaged food and beverage sectors and the ever-increasing demand from the food sector especially from the U.S. Europe market, on the other hand, will witness progressive growth owing to the continuous launch of new products, coupled with the rise in consumer expectations and easy product handling. Moreover, Asia Pacific market is expected to witness the fastest growth rate in the forecast duration on account of the rise in demand from the food processing industry and the expansion of the retail market. Additionally, the increasing population, increase in per capita income, and the rising popularity of ready-to-eat food is also boosting the Asia Pacific market.
Competitive Landscape:
Amcor Plc., and Mondi Plc. Dominating Market with Diverse Portfolio
Currently, players such as Mondi plc., and Amcor plc., are holding the dominating shares on account of the continuous innovations and the presence of diversified product portfolio. Also, these companies introduce new designs for pouch packaging, and this attracts high stand-up pouches market revenue and further expected to continue doing so in the forthcoming years. Other companies are engaging in collaborative efforts such as merger and acquisitions, product launches, investment in the development of innovative products, and others to gain a competitive edge in the market.
Source:
https://www.fortunebusinessinsights.com/stand-up-pouches-market-102585